...The Impact Of InformatiOn Technology On The Accountancy prOfessiOn In Nigeria THE IMPACT OF INFORMATION TECHNOLOGY ON THE ACCOUNTING PROFESSION IN NIGERIA By: Idongesit Efiong Utah ABSTRACT This research focuses on assessing the impact of information technology on the Nigerian Accounting profession by examining four areas: Impact on the public and private sector, the challenges and reaction to the challenges posed by information technological innovation and information technologies enhancing effect on the Accounting profession. INTRODUCTION It is evident that we are in information driven age where information technology is a driving tool in the public and private sectors. The replacement of mainframe computers with personal computers which were affordable to most users has ushered us into an era of proliferation of information, speed of assess to and ability to disseminate information. The information technology revolution has brought about a drastic change in the business environment, its structure and the business process. Information technology has become a strategic tool that drives the strategic initiatives of organizations and businesses. Manual processes have been replaced with automated processes, routine bookkeeping and recording of financial information is being done electronically, and the ease and speed of transacting business has greatly increases. The accountant as a major player in the public and private sectors cannot afford to be left out...
Words: 309 - Pages: 2
...industries. It has also directly impacted the city in a decline of sales tax revenues. In addition to these income losses the state government has legislated that 20 per cent of gross property tax revenues will be transferred to the state in an effort to close a large budget deficit in the state budget. As a result of these financial reverses a wholesale effort to cut costs over all of the areas of city management is being pursued. One of the ways to significantly reduce the costs of the Information Technology Department is to virtualize the server hardware that the city currently utilizes. This will have a secondary benefit of reducing the city’s costs associated with owning server equipment such as cooling and power. The IT Department should also move to leasing the end-user computers to allow the city to amortize the costs over a replacement lifecycle instead of purchasing the equipment outright and having the costs of upgrading and keeping spare systems on hand to accommodate replacements. Proposed Plan The city of Seabreeze would benefit by converting to a completely hosted virtual solution to eliminate the cost of ownership of physical servers and storage area networks. This will also allow Seabreeze to utilize the hosting company’s services to manage backups and disaster recovery planning. Seabreeze will also be able to eliminate a large amount of software costs by utilizing Google Apps for Work. This will also allow the city to utilize software as a service reducing...
Words: 2607 - Pages: 11
...my paper... Lotus Technologies Company Profile Preamble: Greetings! May us thank you for allowing us to introduce our distinguished Organization Lotus Technologies, through this concise Profile to your esteemed self. We are glad to provide you a terse view of Lotus Technologies Offerings, Motto, Team, and Infrastructure herein. Motto: To help our Clients’ Business’ to achieve Speed and Efficiency through our Technology and HR Management Services. Service Offerings: Lotus Technologies offers the following services HR Management Services: 1. Need Assessment and Requirement Finalization 2. Policy Design and Implementation 3. Fulfillment of Legal Obligations a. Registrations with Government Entities b. Monthly / Annual Filing of ESI / PF etc. 4. Recruitment Services a. Preliminary Screening and Profiling b. Technical Screening c. Contract Staffing d. One-Time Recruitment Technology We could assist you in your recruitment needs in any or all the following areas • ERP, CRM & HRMS - SAP, Oracle Apps, BAAN, etc. • Internet and web based application skills (Java / Microsoft Technologies) • Telecom Software and VLSI Design • Systems, Network and Database Management • System software and internals, Client - Server applications. • Consulting...
Words: 723 - Pages: 3
...globalisation. Since the early 90’s it has increased rapidly. Information communication technologies (ICT’s) have given new opportunities in businesses, governments& personal use. Most industries nowadays these day rely on ICT’s and even governments use them in warfare and surveillances. There has been a revolution in computers and communications over the last few decades. All indications of this has pointed to it continuing at a very fast pace. They present many opportunities but also challenges. These are having large effects on many aspects of society, with policy makers tackling issues which involve economic productivity, intellectual property rights, protection of privacy and the costs of access to information. The policies which are implemented now must be considered carefully as the social and economic impacts of these choices will be long-lasting.(Konsbruck,R) Technology cannot solve social problems, but the use of information technology and communication technologies are vital for the economic and social development of the modern world. They can be considered as the functional equivalent of what electricity was in the industrial age. The 1990’s saw the world become organised around computer networks which is at the heart of information and communication processes.(Castells, M, 1999) Since the PTT days (Push to talk), ICT (Information and communication technologies has become the foundation of all sectors of every economy...
Words: 1709 - Pages: 7
...among enterprises is not price competition, but the product quality, technology and innovation, and customer services competition. Through reading the book Information Technology for Managers, I learnt that Information Technology includes all tools that capture, store, process, exchange, and use information. To increase revenue and profits, many enterprises were using IT to gain competitive advantages. In the context of information technology development, enterprises in different levels of IT stages are carrying out various IT related strategies according to their needs and specific conditions. Therefore, there is no necessary link between the cost of IT investment and the achievement of business benefit. First of all, with the population of smart phone devices, people have enjoyed the benefit of IT in the daily life. The trend of personal IT consumption encourages the development of enterprise IT. For most companies, more than 85 percent of IT related budget is just maintaining the daily operation. For our company, taking advantage of the rest 15 percent part is pivotal to win in the marketplace. As the IT division controller, I plan to integrate IT operation with business management, setting up a communication platform both for employees and customers. The inside enterprise networking system will short the time to prepare conference, reduce travel expenses and save the average time of workers to find information through our search engine. At the same time, we also commit to maintain...
Words: 431 - Pages: 2
... put them three years behind schedule and allowed Airbus to succeed. Seeing their mistakes, Boeing turned it around by creating an aircraft that would add value to the consumer and generate profits for the company. Boeing took the opportunity to research composite materials to improve passenger cabin comforts and an overall flying experience compared to the aluminium they had been using previously. Then Boeing wanted to add value to the consumer. Using the new composite materials and upgrading the electrical system to lithium-ion batteries fuel surcharges were reduced and Boeing was able to pass along the savings to the consumers. The increased durability of the aircraft also led to reduced maintenance costs therefore reducing the replacements necessary and in turn having cost saving effects for Boeing and the consumer. Consumers were happy and stock prices increased. Although things appeared to be going wonderfully, there was a huge concern with overheating batteries and it needed to be rectified as soon as possible. Because the batteries were outsourced, there should hae been support integrated ito the design plan for maintenance and technical support. This was an oversight and was not included in the budget. Boeing ultimately had to redesign part of the plane and added additional costs to the project. Other risks emerged such as the use of the new composite for overseas flights and ow exactly would they extinguish the batteries in a safe manner while in flight? The...
Words: 953 - Pages: 4
...Accurate Knowledge r0305e Kathleen M. Sutcliffe and Klaus Weber Hedging Customers r0305f Ravi Dhar and Rashi Glazer The Nonprofit Sector’s $100 Billion Opportunity r0305g Bill Bradley, Paul Jansen, and Les Silverman Best Practice Diamonds in the Data Mine r0305h Gary Loveman Frontiers Don’t Trust Your Gut Eric Bonabeau r0305j H B R AT L A R G E IT Doesn’t Matter by Nicholas G. Carr As information technology’s power and ubiquity have grown, its strategic importance has diminished. The way you approach IT investment and management will need to change dramatically. I n 1968, a young Intel engineer named Ted Hoff found a way to put the circuits necessary for computer processing onto a tiny piece of silicon. His invention of the microprocessor spurred a series of technological breakthroughs – desktop computers, local and wide area networks, enterprise software, and the Internet – that have transformed the business world. Today, no one would dispute that information technology has become the backbone of commerce. It underpins the operations of individual companies, ties together far-flung supply chains, and, increasingly, links businesses to the customers they serve. Hardly a dollar or a euro changes hands anymore without the aid of computer systems. As IT’s power and presence have expanded, companies have come to view it as a resource ever more critical to their...
Words: 6022 - Pages: 25
...Riordan Amended Budget Riordan Amended Budget Introduction The official board for Riordan has tasked Information Technology with diminishing their general plan by two percent, while giving an increment of four percent to fitting line things, programming line things and outside Information Technology help administrations. There are numerous lines inside the monetary allowance that can be sliced instantly to give the essential plan cuts, yet Information Technology is critical to verify that none of the administrations being given to staff will endure with the acclimation to the financial backing. This paper will talk about the current plan, the expanded made to the asked for line things and the general plan diminish. The paper will likewise legitimize the progressions made to the financial backing. Strategic Planning and Management To accomplish any objective, all organizations need a set of choices and activities that will bring about the building and execution of arrangements. As indicated by Pearce and Robinson, these arrangements incorporate nine discriminating undertakings. Inside these errands are the organization's statement of purpose, examination, long haul destinations, fleeting techniques, and the execution of the key decisions by methods for planned asset allotments in which the matching of assignments, individuals, structures, advances, and prize frameworks is stressed? The correction of the Riordan plan will think seriously...
Words: 1389 - Pages: 6
...THE IMPACT OF INFORMATION TECHNOLOGY ON THE ACCOUNTING PROFESSION IN NIGERIA By: Idongesit Efiong Utah ABSTRACT This research focuses on assessing the impact of information technology on the Nigerian Accounting profession by examining four areas: Impact on the public and private sector, the challenges and reaction to the challenges posed by information technological innovation and information technologies enhancing effect on the Accounting profession. INTRODUCTION It is evident that we are in information driven age where information technology is a driving tool in the public and private sectors. The replacement of mainframe computers with personal computers which were affordable to most users has ushered us into an era of proliferation of information, speed of assess to and ability to disseminate information. The information technology revolution has brought about a drastic change in the business environment, its structure and the business process. Information technology has become a strategic tool that drives the strategic initiatives of organizations and businesses. Manual processes have been replaced with automated processes, routine bookkeeping and recording of financial information is being done electronically, and the ease and speed of transacting business has greatly increases. The accountant as a major player in the public and private sectors cannot afford to be left out. To function properly and competently the accountant must take the changes brought about by information...
Words: 2891 - Pages: 12
...Management information Systems | United Business Institutes BA2 | Essay Question 1 | Word Count 2845 | Erdem Emanuel 11378 | 3/20/2015 | Question 1: Write an essay outlining the strategic business objectives of an Information System (IS). Include a description of its management, organization and its technology components. Make use of diagrams where appropriate. | Contents Abstract 1 Introduction 1 Strategic Business Objectives of Information Systems (IS) 1 The Three Dimensions 1 Conclusions 1 References 1 Abstract In this time constrained-essay the reader will be introduced to the topic through an exploration of how the business world has changed since the digital revolution has occurred. This event, sometimes also referred to as the third industrial revolution, has dramatically increased the flow of information due to rapidly evolving internet access for more and more people worldwide. In parallel, the development and use of information technology has also strongly increased worldwide for people as well as for companies. In the next step, I will define the difference and connection between two important terms: information technology and information systems. Following I will explain the meaning of gathering data and its transformation into meaningful information for companies. The following part will then deal with the interdependence of organizations and information systems and go into more depth on explaining the six strategic business objectives...
Words: 2908 - Pages: 12
...FOR CIOS Emerging Business Technology Priorities Landscape: The Business Technology Agenda Playbook by Marc Cecere and Charlotte Wang March 22, 2016 Why Read This Report Key Takeaways In the age of the customer, the focus of technology management must shift toward winning, serving, and retaining customers. Understanding how and where to prioritize this shift is a critical aspect of technology leadership. This report describes the landscape of options CIOs must navigate to lead in the age of the customer — options that both simplify existing information technology (IT) services and accelerate new business technology (BT) capabilities. Focus Scarce Resources On Business Technology Initiatives Strategic business capabilities create perceived differential value in the mind of the customer. By focusing scarce BT resources on strategic capabilities, CIOs can dramatically shift the role of technology management in creating superior customer experience and delivering customer value. This is an update of a previously published report; Forrester reviews and revises it periodically for continued relevance and accuracy. Reduce Complexity By Simplifying IT Legacy In the age of the customer, business must become agile and operate at the speed of the market. To achieve agility, CIOs must remove the complexity of the underlying technology surrounding generic capabilities by engaging the executive team to compromise on generic technologies. Prepare The Technology Organization With New Skills...
Words: 4365 - Pages: 18
...Chapter 1 | Foundations of Information Systems in Business The Fundamental Roles of IS in Business Support of Business Processes and Operations . As a consumer, you regularly encounter information systems that support the business processes and operations at the many retail stores where you shop. For example, most retail stores now use computer-based information systems to help their employees record customer purchases, keep track of inventory, pay employees, buy new merchandise, and evaluate sales trends. Store operations would grind to a halt without the support of such information systems. Support of Business Decision Making . Information systems also help store managers and other business professionals make better decisions. For example, decisions about what lines of merchandise need to be added or discontinued and what kind of investments they require are typically made after an analysis provided by computer-based information systems. This function not only supports the decision making of store managers, buyers, and others, but also helps them look for ways to gain an advantage over other retailers in the competition for customers. Support of Strategies for Competitive Advantage . Gaining a strategic advantage over competitors requires the innovative application of information technologies. For example, store management might make a decision to install touch-screen kiosks in all stores, with links to the e-commerce Web site for online shopping. This offering might attract...
Words: 19641 - Pages: 79
...such a contemporary issue? [25] The alignment of business and IT has been a major management concern for decades. Two recent surveys revealed that it continues to be a top priority for CIOs. A contributing issue is the lack of functional relationships between business and IT, complicated by the complexity of the service delivery mechanism. There is also the attitude that a quick application fix, if implemented, will be the magic bullet that solves the problem and increases confidence and collaboration within the business units receiving the IT service. We can look at the IS organisation aligning within the Enterprise in the context of the Strategic Information Systems Planning (SISP) which entails establishing a program for implementation and use of information systems in ways that will optimize effectiveness of information resources and use them to support the objectives of the organization. In order to fulfill alignment the plan should:- ❖ Be deeply embedded in business issues ❖ Continue to meet Data Processing and MIS Needs ❖ Have objectives and priorities derived from business imperatives ❖ Provide long term benefits and advance business strategy First, let’s look at why alignment problems occur. In some organizations, alignment difficulties can begin as communication problems when business and technical staff speak different languages and develop differing expectations. In other organizations, politics and control issues cause animosity and misalignment...
Words: 4424 - Pages: 18
...Introduction of the Study: The present world is the world of information technology. Mobile phone is the revolutionary invention of science. This mobile has enriched our communication network. It has been possible to communicate from one corner to another by its contribution. Mobile phone is one of the important wonders of modern science. The standard of living of men has been changed by the contribution of this technology. At the beginning Telegraph was only one medium of communication. Alecgunder invented telephone in 1876. As a result, it has been possible to send the human voice to the remote. Electric sign is flown through the wire of both the telegraph and telephone. At the beginning of last century wireless was invented by Marcony which occurred revolutionary change in the communication. Consequently the necessary of adding wire by receiving & transferring not needed. In case of telephone it is set up one place which is not transferable, so problem occurs. In this situation mobile phone takes the place of telephone to overcome the problem. “Mobile Phone Service” is another name of silent revolution in Bangladesh. Mobile phone service is keeping important role in removing the digital divide. Mobile phone is contributing active role in receiving and sending information in the villages. Bangladesh enters the mobile world through the City Cell Company in 1993. In that time the cost of a connected mobile phone required more than one lack Tk for a mobile holder. Mobile...
Words: 9939 - Pages: 40
...NBER WORKING PAPER SERIES THE DISTINCT EFFECTS OF INFORMATION TECHNOLOGY AND COMMUNICATION TECHNOLOGY ON FIRM ORGANIZATION Nicholas Bloom Luis Garicano Raffaella Sadun John Van Reenen Working Paper 14975 http://www.nber.org/papers/w14975 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2009 We would like to thank the ESRC for help with financing this research at the Centre for Economic Performance. We thank participants at the LSE Labor workshop, at the NBER Summer Institute in Labor and Personnel Economics, at the Harvard/MIT workshop in Organizational Economics and at the Microsoft Economics workshop for their useful comments. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peerreviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications. © 2009 by Nicholas Bloom, Luis Garicano, Raffaella Sadun, and John Van Reenen. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. The distinct effects of Information Technology and Communication Technology on firm organization Nicholas Bloom, Luis Garicano, Raffaella Sadun, and John Van Reenen NBER Working Paper No. 14975 May...
Words: 15564 - Pages: 63
