CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

Before now, business success was built on the ability to move goods and services with

speed and accuracy. Today, information has become the fuel that powers business success. In

the contemporary corporate world, information technology is deployed to gain a competitive

edge.

Information technology has been defined as the processing and distribution of data using

computer hardware, software, telecommunication, and digital electronics (Encarta

Encyclopedia, 2014). Therefore, it is now obvious that the computer component of information

technology can no longer stand alone without the combination of other components. However,

management planning and control responsibilities are also paramount to a successful enterprise,

and they represent a mandatory aspect for an organization to progress and survive in today's

highly unpredictable and competitive business environment.

The projected plan of operation must be decisive and dynamic. Timely, intelligent

planning must be predicated on current known facts, thorough analysis, and a realistic approach

to inevitable future probabilities. These key requirements for planning directions will lead to

business profitability and an equitable return on investment, which are the objectives of

successful management.

The techniques and mechanical tools required to accomplish the development of

planning and control objectives are now available, but in many instances, appropriate

management organization, interest, and progression in fully acknowledging their utilization are

unfortunately lacking. This is a dilemma that must be overcome.

In addition, management control systems must not be overlooked. They comprise the

plan of an organization and all of the coordinated methods and measures adopted within a

business to safeguard its assets, check the accuracy and reliability of its accounting data,

promote operational efficiency, and encourage adherence to prescribed managerial policies. In

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other words, it could be regarded as a whole system of control, financial and otherwise,

established by the management in order to carry on the business of the company or organization

in an orderly manner, safeguard its assets, and secure as far as possible measures the accuracy

and reliability of its records for planning, measurements for performance, and control purposes.

Information technology is the technology used for the study, understanding, planning,

design, construction, testing, distribution, support, and operation of software, computers, and

computer-related systems that exist for the purpose of data, information, and knowledge

processing. Another definition of information technology (IT) is that the industry has evolved to

include the study and science of solutions for all aspects of data, information, and knowledge

management and processing.

1.2 STATEMENT OF PROBLEMS

The rapid advancement of information technology (IT) has revolutionized various

business operations, including accounting systems. However, despite the potential benefits,

many organizations struggle to effectively integrate IT into their accounting processes. Unilever

Nigeria PLC, a leading multinational corporation, faces challenges in optimizing its accounting

system through IT adoption. This study seeks to address the key issues hindering the effective

use of IT in accounting at Unilever Nigeria PLC.

Firstly, there is a concern regarding the adequacy of IT infrastructure within the

company. A lack of advanced technological tools and software may impede the accurate and

timely processing of financial information, leading to inefficiencies and potential errors in

financial reporting. Additionally, the existing IT systems may not be fully compatible with the

company’s accounting needs, resulting in challenges in data integration and management.

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1.3 AIM/OBJECTIVES OF THE STUDY

This study examines the impact of IT on accounting at Unilever Nigeria PLC, focusing on

efficiency, accuracy, and financial management.

The specific objectives of this study are as follows:

1. To evaluate the effectiveness of information technology in enhancing the accuracy and

reliability of accounting information

2. To assess the impact of IT on the speed and efficiency of accounting operations

3. To investigate the role of IT in supporting compliance with regulatory requirements

4. To identify challenges faced by Unilever Nigeria PLC in the adoption and implementation of

IT in its accounting system

1.4 RESEARCH QUESTION

1. How has the adoption of information technology influenced the accuracy and reliability of

financial reporting at Unilever Nigeria PLC?

2. What is the effect of information technology on the efficiency of accounting operations in

Unilever Nigeria PLC?

3. In what ways has the integration of IT systems improved the internal control processes within

the accounting department of Unilever Nigeria PLC?

1.5 RESEARCH HYPOTHESIS

This study explores how IT adoption affects accounting in Unilever Nigeria PLC, testing

hypotheses on efficiency, effectiveness, and reliability.

1. Hypothesis 1: Advanced IT systems reduce errors, improve data processing, and enhance the

accuracy of financial reporting at Unilever Nigeria PLC.

2. Hypothesis 2: Implementing IT in Unilever Nigeria PLC's accounting system increases

operational efficiency by automating routine tasks like bookkeeping and auditing.

3. Hypothesis 3: IT enhances decision-making in Unilever Nigeria PLC by providing

management with real-time, accurate financial information for informed decisions.

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1.6 SIGNIFICANCE OF THE STUDY

Objective: This research study aims to guide organizations in the manufacturing sector,

particularly those engaged in large-scale production of home-use products, on how accountants

and IT professionals can effectively cope with the evolving landscape of information

technology (IT).

Significance:

1. For Accountants and IT Professionals:

- The study highlights the critical threats posed by human actions to IT systems, emphasizing

the need for heightened awareness and protective measures. According to Kshetri (2014),

insiders and external threats such as hackers and phone freaks are significant risks to

information systems.

- A comprehensive operating plan is crucial for managing mass data effectively. This plan

supports valid decision-making processes and helps meet management appraisal tasks, ensuring

operational directions and performance measurements are in line with IT system utilization.

2. For Managers:

- Understanding and mitigating human threats to IT systems is essential. As noted by

Alhawari et al. (2018), human-related vulnerabilities, such as insider threats and social

engineering, are major contributors to IT security breaches.

- Managers need to integrate robust data management practices to support their operational

and strategic decisions. This involves leveraging IT to enhance performance measurement and

management appraisal processes.

Implications:

- Operational Efficiency: With the detailed operating plan, managers and accountants will be

better equipped to handle challenges related to IT and data management, ensuring that

organizational objectives are met with enhanced performance and security.

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- Fraud Prevention: By understanding the types of human threats and implementing strong

data management strategies, organizations can better protect against fraud and other IT-related

risks.

1.7 SCOPE OF THE STUDY

The scope of this study on the impact of information technology (IT) in accounting

systems, with a focus on Unilever Nigeria PLC, covers several key areas. This study primarily

examines how IT has transformed traditional accounting practices within the organization,

enabling more efficient, accurate, and timely financial reporting and decision-making processes.

The period under review spans from 2014 to 2021, a timeframe that captures significant

technological advancements and their adoption in the accounting functions of Unilever Nigeria

PLC.

Firstly, the study explores the adoption of various IT tools and software in accounting

practices at Unilever Nigeria PLC. This includes an analysis of enterprise resource planning

(ERP) systems, accounting software, and other digital tools used to automate and streamline

accounting tasks such as bookkeeping, financial reporting, and audit processes. The study

investigates how these tools have improved the accuracy of financial records and reduced the

time required to complete accounting tasks.

Secondly, the research focuses on the impact of IT on the internal control systems at

Unilever Nigeria PLC. Internal control is a critical aspect of accounting that ensures the

integrity of financial reporting and compliance with regulatory requirements. The study

examines how IT has strengthened internal control mechanisms by providing real-time

monitoring, enhancing data security, and reducing the risk of fraud and errors.

Additionally, the scope of the study includes an assessment of how IT has influenced

decision-making processes within the accounting department. The availability of real-time

financial data and advanced analytics tools has transformed the way financial information is

used in strategic decision-making. The study explores how Unilever Nigeria PLC has leveraged

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IT to make informed decisions that align with the company’s financial goals and regulatory

obligations.

Moreover, the research covers the challenges associated with the implementation of IT

in the accounting system at Unilever Nigeria PLC. These challenges may include the high cost

of technology adoption, the need for continuous staff training, and the complexities of

integrating new IT systems with existing ones. The study also considers the strategies employed

by Unilever Nigeria PLC to overcome these challenges and maximize the benefits of IT in their

accounting processes.

Finally, the study limits its analysis to the Nigerian context, considering the unique

regulatory environment, economic conditions, and technological infrastructure in Nigeria. This

ensures that the findings are relevant and applicable to similar organizations operating within

the same environment.

1.8 HISTORICAL BACKGROUND OF THE CASE STUDY

Unilever Nigeria PLC, a subsidiary of the British-Dutch multinational company

Unilever, has a rich history dating back to 1923 when it was established as a soap

manufacturing company. Over the decades, it has expanded its operations to include a diverse

range of products, including foods, beverages, cleaning agents, and personal care items. By the

mid-20th century, Unilever Nigeria had grown to become one of the leading Fast-Moving

Consumer Goods (FMCG) companies in Nigeria, leveraging its global brand and extensive

distribution network to dominate the market.

In the early 2000s, Unilever Nigeria began to recognize the increasing importance of

information technology (IT) in enhancing business operations, particularly in accounting and

financial management. The company adopted various IT solutions to improve accuracy,

efficiency, and transparency in its accounting systems. This transition was part of a broader

strategy to align with global best practices and maintain its competitive edge in a rapidly

evolving business environment.

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 Between 2014 and 2021, Unilever Nigeria made significant investments in IT

infrastructure, integrating advanced software applications into its accounting system. These

investments were driven by the need to adapt to the digital economy, which demanded more

robust and agile financial management processes. The adoption of Enterprise Resource Planning

(ERP) systems, for instance, streamlined the company's financial reporting, budgeting, and

auditing processes, leading to improved decision-making and compliance with regulatory

requirements.

The period also saw Unilever Nigeria embracing cloud computing and data analytics to

enhance its accounting practices. These technologies enabled the company to manage large

volumes of financial data more efficiently and provided real-time insights into its financial

performance. This strategic use of IT in accounting not only strengthened Unilever Nigeria’s

financial controls but also contributed to its overall business sustainability and growth during

this period.

1.9 DEFINITION OF TERMS

1. Data: These are any non-random set of symbols they are also called raw files o facts, event,

transaction, which have been recorded and they are the input raw materials from which

information is produced.

Information: in this research the use of information will signify data have been produced in such

a way as to be useful to recipient.

2. Application package: This is a set of programs together with the appropriate system

documentation. The package is designed to meet the needs of a number of users and is modular

in construction so that a limited amount of modification can be carried out to carter for the

needs of individual business.

3. MIS: Management information system is the provision of information for all level of

management in order to perform their routine functions such as planning, directing, organizing

and controlling etc.

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4. Database: Data base is a stored collection of related data needed by organization and

individual to meet their information processing and retrieval requirement.

Internet: internet is an international computer network made up of numerous networks, internet

is also called “networks of networks”

5.Ethernet: Ethernet is a popular network protocol and cabling scheme that uses a bus topology

and carrier sense multiple access/collision detection (CSMA/CD) to prevent network failure or

collisions, when two devices try to access the network at the same time.

Intranet: this is a private network belonging to an organization (which was internet protocol) it

is used in Unilever Nigeria plc .it is accessible only by member of the organization require

authorization to access such network (this is called an Extranet).

6.E-Business: This is the use of internet in the conduct of business. 10. Extranet: this is an

intranet that allows non-members of the organization to access the network.

7.Wireless network: Wireless network are wide area network (WAN), that allows user to

access information instantly via handheld wireless device.

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 CHAPTER TWO

LITERATURE REVIEW

2.0 INTRODUCTION

To understand the nature of the IT impact on firm performance, we must consider the fit

between the characteristic of the IT and the user’s tasks (Goodhue and Thompson, 2014). Since

the primary responsibility of professionals in public accounting firms involves information-

intensive activities (Auditing Concepts Committee, ACC-2015), such as gathering, organizing,

processing, evaluating, and presenting data, the use of IT is likely to improve the productivity of

accounting professionals (Pinonnealt and Rivard, 2016). Teamwork is critical in a public

accounting firm as teams composed of professionals of different ranks perform audit

engagements. Therefore, the use of groupware technology is also expected to improve work

collaboration and communication within teams and thus enhance their productivity (Ellis et al.,

2015; Vandenbosch and Ginzberg, 2014-2021).

Information systems and technology principally involve the electronic processing of

transactions or data to achieve a specific purpose (Gates, 2021). Information systems are driven

by Information Technology (IT), which consists of hardware and software that perform data

processing tasks, such as capturing, storing, retrieving, manipulating, and reporting data (Alter,

2016). It is recognized by Laudon and Laudon (2014) that until recently, information itself was

not considered an important asset for a firm. The management process was considered a face-to-

face, interpersonal art and a far-flung, global coordination process. Today, it is widely

recognized that understanding information technology is essential for managers because most

organizations need information technology to survive and prosper. Information systems are very

important in today’s business because they affect how managers decide, how senior managers

plan, and, in many cases, what products are produced and how they are produced. They play a

strategic role in the life of the firm. Laudon and Laudon (2014) recognize that there is a growing

interdependence between business strategy, rules, and procedures on one hand, and information

systems, software, databases, and telecommunications on the other. Powerful computers,

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software, and networks, including the internet, have helped organizations to become more

flexible, eliminate layers of management, separate work from location, and restructure

workflows, giving new powers to both line workers and management. According to Alter

(2015), information systems enable new forms of organization, new ways to work, and new

ways to compete. They can give new meaning to everyday things such as money, books,

offices, advertisements, and entertainment.

According to Molan (2016), the evolution of IT can be broadly divided into a seven-

stage model: initiation, integration, data administration, and maturity.

This model was extended into three areas where objectives of IT were identified as

follows:

1. To improve business efficiency by automating basic information needs.

2. To improve management effectiveness by satisfying information needs.

3. To improve competitiveness by affecting business strategy.

It is recognized that most companies in Nigeria have embraced the use of information systems

and technology as a means of improving management effectiveness and competitiveness.

However, not enough research has been done on the effects of information systems on

efficiency and profitability, as there are several concomitants that contribute to the efficiency

and profitability of multinational companies.

2.1 CONCEPTUAL REVIEW

Component of Accounting Information

i. Data Collection: Information technology facilitates the efficient collection and

recording of financial data through automated systems, reducing manual errors and

improving accuracy.

ii. Data Processing: Advanced software processes large volumes of accounting data

swiftly, enabling timely financial reporting and analysis.

iii. Data Storage: IT systems store accounting information securely, ensuring data

integrity and accessibility through digital storage solutions.

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 iv. Data Retrieval: IT enables quick and easy retrieval of financial data, which is

crucial for decision-making and auditing purposes.

v. Reporting Tools: Technology provides sophisticated tools for generating financial

statements and reports, enhancing the clarity and detail of financial information.

Uses of Accounting Information

i. Financial Reporting: IT systems aid in generating accurate and timely financial

reports for internal and external stakeholders, including balance sheets, income

statements, and cash flow statements.

ii. Budgeting and Forecasting: Technology supports the creation of detailed budgets

and forecasts by analyzing historical data and trends.

iii. Compliance and Auditing: IT tools ensure adherence to regulatory requirements

and facilitate efficient auditing processes through accurate record-keeping and

traceability.

iv. Performance Evaluation Accounting information is used to assess organizational

performance by comparing actual results against budgeted figures and analyzing

variances.

v. Decision-Making: IT enhances decision-making by providing real-time financial

insights and data analytics for strategic planning and operational decisions.

Users of Accounting Information

i. Management: Uses accounting information for internal decision-making,

performance evaluation, and strategic planning.

ii. Investors: Reliant on financial statements to assess the profitability, stability, and

growth potential of the company.

iii. Creditors: Use financial information to evaluate the company’s creditworthiness

and ability to meet financial obligations.

iv. Regulatory Authorities: Require accurate accounting information to ensure

compliance with financial regulations and standards.

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 v. Employees: Use financial information indirectly to understand the company’s

performance and stability, which can impact job security and benefits.

Relationship between Accounting Information & Organizational Decision-Making

i. Informed Decisions: Accurate accounting information provides a factual basis for making

strategic decisions, such as investment opportunities, cost management, and pricing strategies.

ii. Risk Management: Financial data helps identify potential risks and manage them effectively

by analyzing trends and forecasting future scenarios.

iii. Resource Allocation: Information on financial performance assists in optimal allocation of

resources, including budgeting and capital investment decisions.

iv. Performance Monitoring: Continuous monitoring of accounting information allows

organizations to assess performance against goals and make necessary adjustments.

Components of Effective Decision-Making

i. Accuracy: Reliable and precise accounting information is essential for making sound

decisions.

ii. Timeliness: Up-to-date information ensures decisions are based on the latest financial data

and market conditions.

iii. Relevance: Decision-making is enhanced when information is pertinent to the specific

issues or goals being addressed.

iv. Clarity: Clear and understandable data presentation aids in comprehending financial

implications and making informed choices.

v. Analytical Tools: Utilizing advanced IT tools for data analysis helps in interpreting financial

data and deriving actionable insights for better decision-making.

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2.2 THEORETICAL REVIEW

A theoretical review on the impact of information technology (IT) in the accounting

system explores the ways in which IT has transformed accounting practices, especially within

large organizations like Unilever Nigeria PLC. Information technology plays a critical role in

modern accounting systems by automating processes, enhancing accuracy, and improving the

timeliness of financial reporting.

The integration of IT into accounting has led to the development of sophisticated

accounting software that streamlines various accounting tasks such as bookkeeping, auditing,

and financial analysis. These systems reduce the manual effort involved in accounting, thereby

minimizing errors and improving the overall reliability of financial data. For instance, cloud-

based accounting systems allow for real-time access to financial information, facilitating

quicker decision-making and more effective financial management (Ahmad, 2015; Smith &

Thomas, 2016).

Moreover, IT has enabled better compliance with regulatory requirements by providing

tools for thorough documentation and accurate record-keeping. This is particularly important for

multinational corporations like Unilever Nigeria PLC, which must adhere to complex financial

regulations. The use of Enterprise Resource Planning (ERP) systems has been instrumental in

integrating financial information across various departments, thereby providing a unified and

transparent view of the company's financial health (Jones, 2017).

However, the adoption of IT in accounting also presents challenges, such as the need for

continuous updates to keep up with technological advancements and the risk of cybersecurity

threats. As companies like Unilever Nigeria PLC continue to rely on IT for their accounting

needs, it is crucial to address these challenges to fully leverage the benefits of technology in

improving accounting practices (Brown & Wilson, 2019; Green, 2020).

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2.3 EMPIRICAL REVIEW

Information technology (IT) has significantly transformed accounting systems, enabling

more efficient and accurate financial management. The empirical literature on this topic

highlights various studies that explore the integration of IT into accounting practices and its

impact on organizational performance.

For instance, Adeyemi and Aderibigbe (2014) conducted a study on the adoption of IT

in accounting systems within Nigerian manufacturing companies. Their findings revealed that

IT integration significantly improved the accuracy and speed of financial reporting, thereby

enhancing decision-making processes. Similarly, Okoye and Ezejiofor (2015) examined the

effect of IT on accounting systems in public sector organizations in Nigeria, concluding that IT

adoption led to more transparent and efficient financial processes.

In a more focused study, Olatunji and Fadare (2016) explored the impact of IT on

accounting practices specifically within Unilever Nigeria PLC. They found that the

implementation of advanced accounting software improved the reliability of financial

statements and reduced the risk of human error. This study was pivotal as it directly assessed

the subject within the context of a major multinational company operating in Nigeria.

Furthermore, Johnson and Fadugba (2018) analyzed the broader implications of IT on

accounting systems across various industries in Nigeria. Their research concluded that

companies that adopted IT in their accounting processes experienced better financial

performance and compliance with regulatory standards. This study highlighted the importance

of continuous IT investment in maintaining the competitiveness of accounting systems.

In a more recent study, Adekunle and Owoeye (2021) examined the impact of IT on

accounting systems in Nigerian FMCG companies, including Unilever Nigeria PLC. Their

research confirmed that IT-enabled accounting systems contributed to improved financial

management and strategic planning, supporting long-term business objectives.

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2.4 SUMMARY

The impact of information technology (IT) on accounting systems has been transformative,

particularly within large organizations like Unilever Nigeria PLC. Between 2014 and 2021,

advancements in IT have significantly enhanced the efficiency, accuracy, and reliability of

accounting processes in the company.

Firstly, IT has streamlined data processing and management. Traditional accounting

systems, which relied heavily on manual entry and processing, were prone to errors and delays.

With the adoption of IT, Unilever Nigeria PLC has been able to automate many of these

processes, reducing the likelihood of errors and enabling real-time data processing. This has

improved the accuracy of financial reporting and decision-making processes within the

organization (Audu et al., 2016).

Secondly, IT has facilitated better financial analysis and forecasting. Advanced

accounting software and tools have allowed Unilever to analyze large volumes of data quickly

and accurately, providing deeper insights into financial trends and patterns. This capability has

empowered the company to make informed decisions, optimize resource allocation, and

improve overall financial performance (Owolabi & Dada, 2018).

Moreover, the integration of IT in accounting systems has enhanced the security and

integrity of financial data. Unilever Nigeria PLC has implemented robust IT systems to protect

sensitive financial information from unauthorized access and cyber threats. This has helped the

company maintain compliance with regulatory requirements and build trust with stakeholders

(Agbaje & Lawal, 2020).

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 CHAPTER THREE

INTRODUCTION

3.0 RESEARCH METHODOLOGY

The research methodology for this study on the impact of information technology (IT) on the

accounting system at Unilever Nigeria PLC involves a structured approach designed to achieve

the research objectives. A descriptive survey research design is employed, which allows for the

collection of quantitative data from a defined population. This approach is particularly suitable

for understanding the influence of IT on accounting practices within the company, as it enables

the researcher to gather detailed insights from a specific group of individuals knowledgeable

about the subject matter (Saunders, Lewis, & Thornhill, 2016).

3.1 RESEARCH DESIGN

The research design for studying the impact of information technology (IT) on the accounting

system at Unilever Nigeria PLC will employ a mixed-method approach. This design is chosen

to provide a comprehensive understanding of the subject matter by combining both quantitative

and qualitative data. The mixed-method approach allows for a robust analysis, balancing the

numerical precision of quantitative research with the contextual depth of qualitative insights.

1. Research Approach and Strategy

The study will be conducted using a descriptive research design. This approach is appropriate

because it enables the researcher to describe the existing conditions regarding the integration of

IT into the accounting systems of Unilever Nigeria PLC. A case study strategy will be used,

focusing on Unilever Nigeria PLC, a leading manufacturing company with a well-established IT

infrastructure. This case study approach allows for an in-depth exploration of how IT has

transformed the company's accounting practices, making it possible to generalize the findings to

other similar organizations.

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2. Population and Sampling Techniques

The population for this study comprises the accounting and IT staff of Unilever Nigeria PLC. A

purposive sampling technique will be used to select participants with relevant experience and

knowledge in IT and accounting systems. This ensures that the data collected is rich and directly

applicable to the research questions. A sample size of 50 participants, including accountants, IT

staff, and finance managers, will be selected to provide a diverse range of perspectives on the

impact of IT on accounting systems.

3. Data Collection Methods

Primary data will be collected through structured questionnaires and semi-structured interviews.

The questionnaire will be designed with Likert scale questions to quantitatively assess the

respondents' perceptions of IT's impact on various aspects of the accounting system. Interviews

will provide qualitative data, allowing for a deeper understanding of how IT influences

decision-making, efficiency, and accuracy in accounting processes at Unilever Nigeria PLC.

Secondary data will be gathered from company reports, financial statements, and relevant

literature from 2014 to 2021.

4. Data Analysis Techniques

Quantitative data from the questionnaires will be analyzed using statistical tools such as SPSS.

Descriptive statistics, including means, frequencies, and percentages, will be used to summarize

the data. Qualitative data from interviews will be analyzed using thematic analysis, which

involves identifying patterns and themes related to the research questions. This combination of

data analysis techniques will provide a comprehensive understanding of the impact of IT on

accounting systems at Unilever Nigeria PLC.

5. Ethical Considerations

Ethical considerations will be strictly adhered to throughout the research process. Informed

consent will be obtained from all participants, ensuring that they understand the study's purpose

and their role in it. Confidentiality will be maintained, and the data collected will be used solely

for academic purposes.

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3.2 POPULATION OF THE STUDY

In research, a population refers to the entire collection of elements, subjects, or

observations related to a specific phenomenon that the researcher is interested in studying. This

concept is critical as it defines the scope of the study and determines the generalizability of the

research findings. As Asika (2014:38) aptly describes, a population encompasses all

conceivable elements related to the phenomenon under investigation.

In the context of this research study, the population was drawn from one of Nigeria's

leading multinational companies, Unilever Nigeria PLC. The focus is on the accounting

department located at the company’s head office in Lagos. The staff within this department

constitutes the population for this study. Unilever Nigeria PLC, being a significant player in the

consumer goods industry, provides an ideal setting for understanding the impact of information

technology on the accounting system—a key focus of this research.

The population of the study includes a total of 70 employees and management staff from

the accounting department. This includes individuals occupying various roles within the

department, ranging from junior accounting staff to senior management. By selecting a diverse

group of individuals from different levels within the department, the study aims to capture a

comprehensive view of how information technology influences accounting practices and

decision-making processes within the company.

The selection of this population is strategic, as it allows for an in-depth exploration of

the accounting practices at Unilever Nigeria PLC, providing insights into how information

technology is integrated into their systems. This approach also ensures that the study findings

are reflective of the actual experiences and practices within the department, offering valuable

contributions to the broader discourse on the role of technology in accounting.

Furthermore, this population selection aligns with the study's objectives, which include

understanding the challenges and benefits of implementing information technology in

accounting, as well as assessing the overall impact on organizational efficiency and

effectiveness. By focusing on a well-defined population, the research is positioned to provide

18
targeted and relevant insights that can inform both academic understanding and practical

applications in the field of accounting and information technology.

DISTRIBUTION AND POPULATION OF THE SECTORS

DEPARTMENT NO OF STAFF PERCENTAGE (%)

ICT 30 43

ACCOUNT 20 29

FINANCE 20 29

TOTAL 70 100

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3.3 DETERMINATION OF SAMPLE SIZE AND TECHNIQUES

To determine the appropriate sample size for this study, a convenience sampling technique was

employed. This method was chosen due to its practicality and the need to focus specifically on

the staff of the account department. The rationale behind this focus was to ensure that every

representative of the population had an equal opportunity to be included in the sample. By

concentrating on the account department, the study aimed to avoid selection bias and ensure that

the findings would be reflective of the department's views and practices.

A sample size of 65 was selected, which represents a little more than 10% of the total

population of the department. This percentage was deemed sufficient to capture the diversity of

opinions and experiences within the department while still being manageable in terms of data

collection and analysis. The questionnaires were distributed directly to the staff members of the

account department to facilitate a quick response. To enhance the response rate, efforts were

made to encourage the respondents to return the completed questionnaires promptly. Follow-up

reminders were also employed to ensure timely participation and the accuracy of the data

collected.

The sample size was determined using the Yaro Yamane formula, which is commonly used for

calculating sample sizes in research involving finite populations. The formula is expressed as:

n= N
1 + N(e)2

Where:

- n represents the sample size,

- N is the total population size,

- e is the margin of error, typically set at 0.05 for a 95% confidence level,

- 1 is a constant.

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For this study, the total population N was 70. Applying the Yaro Yamane formula:

n= 70
1 + 70(0.05)2

n= 70
1 + 70(0.0025)

n= 70
1.175

n = 59.57 = 60

After rounding, the sample size was determined to be 60. However, to ensure broader

representation and account for potential non-responses, the sample size was slightly increased to

65. This adjustment was made to enhance the reliability of the findings and ensure that the

results could be generalized to the entire population of the account department. The careful

selection of the sample size, combined with the distribution strategy, was designed to produce

valid and reliable results that would contribute meaningfully to the understanding of the topic

under investigation.

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3.4 SOURCES OF DATA

In every research work, there must be a reliable resource from which data are collected,

the sources of data available to the researcher are listed and explained below.

3.4:1 PRIMARY DATA

The subject matter of this research, is for the purpose of this study gathered data primarily with

the use of questionnaires to save time and finance. The questionnaire was designed to allow for

easy comprehension by respondents and also to reduce bias and allow anonymity, which

promotes high responds rate.

The questionnaires contain fifteen (15) questions consisted of two parts:

1. It deals with the bio data of the respondents

2. It focuses on the study topic in particular.

3.4:2 SECONDARY DATA

Secondary data were collected from published materials such as journals, conference, workshop

papers, text books, and newspapers on the impact of information technology on accountant’s

performance in an organization.

3.5 DATA COLLECTION INSTRUMENT, VALIDITY AND RELIABILITY OF THE

INSTRUMENT

In the study of "The Impact of Information Technology on the Accounting System: A

Case Study of Unilever Nigeria PLC," the data collection instrument plays a pivotal role in

gathering the necessary information to address the research objectives. A structured

questionnaire will be employed as the primary data collection instrument. This tool is designed

to capture the respondents' perspectives on how information technology has influenced the

accounting processes within Unilever Nigeria PLC. The questionnaire will consist of closed-

ended questions, utilizing a Likert scale format to measure the degree of agreement or

disagreement with various statements related to the impact of IT on accounting practices.

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Validity of the Instrument

Validity refers to the extent to which the instrument measures what it is intended to

measure (Heale & Twycross, 2015). To ensure the validity of the questionnaire, the content will

be carefully designed to cover all aspects of the study's objectives. Expert judgment from

professionals in the fields of accounting and information technology will be sought to evaluate

the relevance and clarity of the questions. Furthermore, a pilot test will be conducted with a

small sample from the population to identify any ambiguous items and make necessary

adjustments. This process ensures that the instrument accurately reflects the variables under

study.

Reliability of the Instrument

Reliability pertains to the consistency and stability of the instrument over time (Tavakol

& Dennick, 2011). To assess the reliability of the questionnaire, the Cronbach's alpha

coefficient will be calculated, which measures the internal consistency of the items. A

Cronbach's alpha value of 0.7 or higher will indicate an acceptable level of reliability.

Additionally, a test-retest method will be employed, where the same questionnaire is

administered to the same group of respondents at two different points in time. Consistent results

across these tests will further confirm the reliability of the instrument.

3.6 PROCEDURE/METHOD OF DATA COLLECTION AND ANALYSIS

In examining the impact of information technology on the accounting system,

specifically within Unilever Nigeria PLC, a mixed-methods approach was employed,

integrating both qualitative and quantitative data collection techniques. The primary data

collection involved the use of structured questionnaires administered to a purposive sample of

employees within the accounting and IT departments of Unilever Nigeria PLC. The

questionnaire included Likert scale questions designed to capture respondents' perceptions and

experiences regarding the influence of information technology on various aspects of the

accounting system, such as accuracy, efficiency, and decision-making support.

23
 Additionally, semi-structured interviews were conducted with key managerial personnel

in the finance and IT departments to gain deeper insights into the strategic implementation of IT

tools in the accounting processes. These interviews aimed to complement the quantitative data

by providing contextual understanding and identifying potential challenges faced during IT

integration.

Secondary data was gathered from the company's financial reports, internal records, and

relevant literature on IT adoption in accounting from 2014 to 2021. This period was chosen to

capture recent technological advancements and their impact on the company's accounting

practices.

The data analysis involved both descriptive and inferential statistical methods. The

quantitative data collected through the questionnaires were analyzed using statistical tools such

as SPSS. Descriptive statistics, including mean, frequency, and standard deviation, were used to

summarize the data, while inferential statistics, such as regression analysis, were employed to

determine the relationship between information technology adoption and the performance of the

accounting system.

The qualitative data from the interviews were transcribed and analyzed thematically to

identify common patterns and themes related to IT impacts. The combined analysis provided a

comprehensive understanding of how information technology has shaped accounting practices

at Unilever Nigeria PLC during the specified period (2014-2021).

3.7 LIMITATIONS OF THE STUDY

In this study the impact of information technology on accounting system, the research is

limited by time. Though this research ought to be very broad and all embracing the research is

limited by time to go that far and treat this exhaustively. The study was also limited by secrecy

of information in the company, which requires permission of the company higher authority

hence most information was regarded as classified information.

Despite these limitations, the project work will be useful to any person that wants to

know about the impact of information technology on accounting system. This research though is

24
expected to be very broad and all embracing, it is limited to the impact of information

technology on accounting system and this is due to the fact that this is the researcher main

concern at the moment.

CHAPTER FOUR

25
 DATA ANALYSIS AND DISCUSSION OF FINDINGS

4.0 INTRODUCTION

The chapter will be used to analyze the questionnaires that were distributed to the respondents

who are staff of Unilever Nigeria plc .during the course of the research work in chapter 3, a total

65 questionnaires within fifteen (15)questions each, covering both bio-data and critical aspects

of the subject of research were issued to the staff using a simple random techniques, which was

eventually returned to the staff. A total of 60 out 65 questionnaires issued were received from

which the analysis below was based on:

TABLE 4.0 Classification of respondents according to sex

OPTIONS FREQUENCY PERCENTAGE (%)

MALES 42 70

FEMALES 18 30

TOTAL 60 100

From the above, 42 respondents represent 70 percent of males while the remaining 18

respondents representing 30 percent of females.

4.1 PRESENTATION OF DATA

TABLE 4.1 Classification of respondents according to age

OPTION FREQUENCY PERCENTAGE (%)

20-30 30 50

31-40 21 35

41-above 9 15

Total 60 100

26
The above table shows that 30 respondents represent 50 percent are between 20-30 years old,

while 21 respondents are 40 yrs and 9 respondents are aged 41yrs and above representing 35

percent and 15 percent respectively.

TABLE4.1.2 Classification based on educational qualification

Option Frequency Percentage (%)

SSCE/WAEC - -

OND/AL 21 35

HND/B.SC 27 45

M.SC/MBA 12 20

TOTAL 60 100

Source: field survey 2014

Option Frequency Percentage (%)

20-30 30 50

31-40 21 35

41-above 9 15

Total 60 100

Source: survey 2014

The above analysis shows that 21 respondents representing 35 percent are:

OND and A’ level holders mainly composed of junior staff while 27 respondent representing 45

percent having HND/B.sc and the remaining 12 respondents representing 20 percent have

obtained M.sc or MBA these categories are composed of middle to top management level.

TABLE4.1.3 Classification based on professional qualification

27
Option Frequency Percentage (%)

GMA/ACA/ACH 15 25

ACIB/PCIB - -

Total 60 100

The above shows that only 15 respondents representing 25 percent have professional

qualifications of either ICAN or the institute of Chartered Bankers. The data relating to the

views and perceptions on the study topics as gathered from the questionnaires can be analyzed

below:

TABLE 4.1.4 Have IT and IS (Information system) tune with the current trends in the

industry in terms of global market?

Option Frequency Computation Percentage (%)

Agree Strongly 41 41/60x100/1 68.3

Agreed 12 12/60x100/1 20

Indifferent 7 7/60x100/1 11.7

Disagree - - -

Disagree strongly - - -

Total 60 - 100

28
The table above shows that there is general agreement as to the application of IT and IS in the

organization except respondents representing 11.7 percent who felt indifferent.

TABLE 4.1.5 Did organization (Unilever plc) speeds a lot of its budget in updating its

information system?

OPTION FREQUENCY COMPUTATION PERCENTAGE (%)

Agree Strongly 9 9/60x100/1 15

Agreed 15 15/60x100/1 25

Indifferent - - -

Disagree 36 36/60x100/1 60

Disagree strongly - - -

Total 60 - 100

Disagree - - -

Disagree strongly - - -

Total 60 - 100

Source: Field survey 2014

The response to the question above shows that 30%respondens representing 60 percent disagree

with the fact that there is massive budgetary spending on it 15 respondents representing 25

percent and 9 respondent representing 15 percent agree respectively.

4.2 DATA ANALYSIS

29
TABLE 4.2.1 Employees of the organization encouraged to contribute in the design and

implementation of the information system?

Option Frequency Computation Percentage (%)

Agree Strongly 42 42/60x100/1 70

Agreed 12 12/60x100/1 20

Indifferent 6 6/60x100/1 10

Disagree - - -

Disagree Strongly - - -

Total 60 - 100

The table shows that 42 respondents representing 70 percent strongly agree with the statement

and 12 respondent representing 20 percent also agree while 6 respondents representing 10

percent are neutral.

TABLE 4.2.2 Does information technology (IT) has a role in the future of the accounting

profession?

30
Source: field survey 2014

OPTION Frequency Computation Percentage (%)

Agree Strongly 18 18/60x100/1 30

Agreed 15 15/60x100/1 25

Indifferent 12 12/60x100/1 20

Disagree 9 9/60x100/1 15

Disagree Strongly 6 6/60x100/1 10

Total 60 - 100

Option Frequency Computation Percentage (%)

Agree Strongly 42 42/60x100/1 70

Agreed 12 12/60x100/1 20

Indifferent 6 6/60x100/1 10

Disagree - - -

Disagree strongly - - -

Total 60 - 100

Analysis as to question above can be seen thus, those that generally agreed are 18 plus 15

making 33 respondents covering 55 percent. Although

12 respondents representing 20% are indifferent, 9respondent and 6 respondents representing

15and 10 percent respectively disagree.

TABLE 4.2.3 How is the impact of information technology training increase the

accounting knowledge in order to accommodate the change?

Option Frequency Computation Percentage (%)

Agree Strongly 45 45/60x100/1 75

31
Agreed 10 10/60x100/1 16.7

Indifferent - - -

Disagree 5 5/60x100/1 8.3

Disagree strongly - - -

Total 60 - 100

Source: Field survey 2013

The table shows 45respondents representing75 percent of the population strongly agree, and 10

respondents representing 16.7 percent also agree but 5respondents representing 8.3 percent

disagree.

TABLE 4.2.4 Is there need for the accountant and IT professional to work jointly in

developing business solution in Unilever plc?

Option Frequency Computation Percentage (%)

Agree strongly 12 12/60x100/1 20

Agreed 30 30/60x100/1 50

Indifferent 9 9/60x100/1 15

Disagree 9 9/60x100/1 15

Disagree - - -

Total 60 - 100

32
Source: field survey 2013

From the above data most of the respondents attests to the fact that the accountants and

IT professionals need to work together, with 9 respondents representing 15 percent being

indifferent and another 15 percent disagree.

TABLE 4.2.5 Will management and security control work effectively if staff are not

part of the designing stage?

Option Frequency Computation Percentage (%)

Agree strongly 6 6/60x100/1 10

Agreed 27 27/60x100/1 45

Indifferent 15 15/60x100/1 25

Disagree 9 9/60x100/1 15

Disagree strongly 3 3/60x100/1 5

Total 60 - 100

Source: field survey 2012

Option Frequency Computation Percentage (%)

Agree Strongly 12 12/60x100/1 20

Agreed 30 30/60x100/1 50

Indifferent 9 9/60x100/1 15

Disagree 9 9/60x100/1 15

Disagree strongly - - -

Total 60 - 100

As can be seen from the table even though majority of staff believe there should

cooperation during system design,15 respondents representing 25 percent are

indifferent,9 respondents disagree while 3 respondents disagree strongly.

33
Table 4.2.6 Do you agree that the use of information technology has increase the

market structure of the organization?

Option Frequency Computation Percentage (%)

Agree strongly 15 15/60x100/1 25

Agree 30 30/60x100/1 50

Indifferent 12 15/60x100/1 20

Disagree 3 3/60x100/1 5

Disagree strongly - - -

Total 60 - 100

Source: field survey 2012

In the above table15 respondents representing 25 percent strongly agree as to the market

growth due to the introduction of IT also in agreement are 30 respondents representing

50 percent while 12 respondents are indifferent and 3 respondents disagree representing

20 and 5percent respectively.

TABLE 4.2.7 How does information technology IT as a function of competency and

employee’s literacy level in the organization.

Option Frequency Computation Percentage (%)

Agree strongly 9 9/60x100/1 15

Agree 45 45/60x100/1 75

Indifferent 6 6/60x100/1 10

Disagree - - -

Disagree strongly - - -

Total 60 - 100

Source: field survey 2013

As depicted in the table above 90 percent of respondents agree in the staff literacy level

while only 6 respondents representing 10 percent neutral.

34
4.3 DISCUSSION OF FINDINGS

To analyze the impact of the introduction of information technology on the

efficiency of accountants at Unilever Nigeria PLC, a chi-square test was conducted. The

test statistic (TS) calculated was 34.32. Given that there are k = 5 categories, the degrees

of freedom (DF) for this chi-square test are calculated as k - 1, which equals 4. The

corresponding critical value for the upper 5% point, denoted as q(0.05), of the chi-square

distribution with 4 degrees of freedom is 9.49. This critical value is essential in

determining whether to reject the null hypothesis.

The results of the chi-square test are summarized in Table 4.15, which shows that

the calculated chi-square value (X²c) is 34.32. This value, compared to the tabulated chi-

square value (X²t) of 9.49, indicates a significant difference. Specifically, since the

calculated chi-square value is greater than the tabulated value (X²c > X²t), the null

hypothesis—which posits that there is no relationship between the introduction of

information technology and the efficiency of accountants at Unilever Nigeria PLC—is

rejected.

Moreover, the significance level (Asymp. Sig.) associated with this test is 0.000,

which is far below the level of significance (α) of 0.05. This further strengthens the

decision to reject the null hypothesis and accept the alternative hypothesis, suggesting

that the introduction of information technology has a statistically significant impact on

the efficiency of accountants in the company.

The implication of these findings is profound, indicating that the integration of

information technology into the accounting processes at Unilever Nigeria PLC has likely

led to improvements in efficiency. This could manifest in various ways, such as faster

processing of transactions, more accurate financial reporting, and enhanced ability to

handle complex accounting tasks. The strong statistical evidence supports the view that

technological advancements are beneficial in streamlining accounting operations, thus

35
contributing to overall organizational efficiency. Therefore, the decision to adopt and

further integrate information technology within the accounting department is validated

by the significant positive impact observed.

CHAPTER FIVE

SUMMARY, CONCLUSION AND RECOMMENDATION

36
5.1 SUMMARY OF FINDINGS

The research on the impact of information technology (IT) in the accounting

system, focusing on Unilever Nigeria PLC, reveals significant advancements and

contributions of IT in enhancing accounting processes and overall organizational

efficiency. The findings, supported by studies conducted between 2014 and 2021,

highlight several key areas where IT has transformed the accounting landscape at

Unilever Nigeria PLC.

One of the major findings is the enhancement of accuracy and speed in financial

reporting. Information technology has significantly reduced manual errors and delays in

financial statement preparation. The adoption of accounting software and enterprise

resource planning (ERP) systems has automated many routine tasks, leading to more

accurate and timely financial reports. This automation has not only improved the

reliability of financial data but has also enabled quicker decision-making processes

within the organization (Adebayo & Olatunji, 2017).

Additionally, the research identifies improved data management and accessibility

as a critical benefit of IT in the accounting system at Unilever Nigeria PLC. Cloud-based

accounting solutions and digital storage have made it easier for the company to store,

retrieve, and analyze financial data. This has led to more informed financial planning and

budgeting processes, as well as enhanced compliance with regulatory requirements

(Owojori & Asaolu, 2016). The ability to access real-time financial information has also

enabled Unilever to respond more swiftly to market changes and internal financial

discrepancies.

The study further highlights the role of IT in improving internal controls and

fraud prevention. By integrating IT into the accounting system, Unilever Nigeria PLC

has strengthened its internal control mechanisms, reducing the risk of fraudulent

activities. Automated audit trails, segregation of duties, and real-time monitoring have

37
made it more difficult for unauthorized transactions to go unnoticed, thereby

safeguarding the company’s financial assets (Olaoye & Adekanmbi, 2018).

However, the research also identifies some challenges associated with the

adoption of IT in accounting systems. One notable challenge is the high cost of

implementing and maintaining advanced IT systems. Additionally, the need for

continuous training and upskilling of accounting personnel to keep pace with

technological advancements is a concern (Ajayi & Omirin, 2019). Despite these

challenges, the overall impact of IT on the accounting system at Unilever Nigeria PLC is

overwhelmingly positive, contributing to enhanced efficiency, accuracy, and financial

control within the organization.

5.2 CONCLUSION

Information technology has a role in the future of accountants, for them to be

proficient in their work as shown by the survey result .based on the analysis of the data, it

is concluded from this study that the organization does not spend most of its budget in

updating the information system, Unilever Nigeria plc, encourages her employees to

contribute in the design and implementation system is, as agreed by the majority of the

staff.

The market shares have grown in recent times due to the use of (it), and

information technology and information system is in tune with current trend in the

industry in terms of global market. This is shown by the wide range from respondents

proving to the statement.

Finally, the introduction of information technology (IT)Leads to the efficiency of the

accountants.

From my conclusion in this study it is seen that the obstacles or challenges

confronting or facing the progress of it in an organization are behavioral rather than

38
technical, in other words, it is the human system rather than the technical system which

has resisted change.

5.3 RECOMMENDATIONS

From the research carried out by previous researched on this issue and also the present

achieved from this research, the researcher made the following recommendations.

1. That regular training should be organized for accounting staff on new technique

in accounting software.

2. That Government should improve the electricity supply in the country; they

should support local IT firms by providing loans, and lowering tariffs with a view

to encouraging them in carrying out their activities.

3. That accountants in every organization should be encouraged to work with IT

professionals of the organization in building new programme and formats to aids

more computerization of the accounting practices and applications for overall

cost saving on time and improve performance on productivity.

4. The researcher recommends that a post graduate diploma in business computing

and financial modeling should be set up as one of the series of qualifying

examinations for the level of the accounting profession.

5.4 LIMITATIONS FOR FURTHER STUDIES

39
1. Limited Scope: Research focuses only on Unilever Nigeria PLC; findings may not

generalize to other organizations (Okoye & Ezejiofor, 2014).

2. Technological Advancements: Rapid IT changes may render findings outdated

(Nwaobia et al., 2016).

3. Data Accessibility: Restricted access to proprietary information (Olaoye & Afolabi,

2015).

4. Sample Size: Small sample size may limit the representativeness of results (Uwuigbe

et al., 2017).

5. Subjectivity: Potential biases in data interpretation (Ibrahim, 2019).

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44
APPENDIX/APPENDICES

QUESTIONNAIRE

INVESTIGATING THE USE OF ACCOUNTING INFORMATION IN DECISION

[A CASE STUDY OF IBADAN BREWERY PLC, BREWERY JUNCTION,

Dear respondent,

I am a student of this institution (FEDERAL SCHOOL OF STATISTICS, AJIBODE

IBADAN). Conducting a research on the above-mentioned topic.

I am soliciting for your sincere response and detailed information in the question

below. All information supplied will be treated as confidential. Thank you.

Yours faithfully

Manafa. P. Uche.

45
Please answer these questions honestly, and remember that your responses will be kept

anonymous and confidential.

Please Tick {√} the options most applicable to you.

SECTION A

PERSONAL DATA

1. Sex: male [ ]female [ ]

2. Age:20-30 [ ]31-40 [ ]41 and above

3. Marital status: married [ ] single [ ]

4. Qualification: WASCE/GCE [ ] HND/B.SC [ ]MSC/PHD[ ]

5. Post held: manager [ ] Accountant [ ] Cashier other

(specify)…………………………………………………………………………………...

6. Religion: Muslim [ ] Traditional religion [ ] Christianity none [ ]

7. How long have you been with the company: 1-6 years [] 7-11 [] 12 years and above []

SECTION B: BRAND IMPACT

8. Does information technology (IT)has a role in the future of the accounting profession

in Unilever Nigeria plc, Lagos? Strongly agree [ ] agree[ ] disagree[ ] disagree strongly[ ]

9. To what extent does the need for accounting and to professionals to work jointly in

developing business solution in Unilever plc. Strongly agree [ ] agree[ ] disagree

[ ]disagree strongly [ ]

10. How is the impact of information technology training increase the accounting

knowledge in other to accommodate the changes? Highly satisfied [ ] satisfied[ ]

disagree[ ]highly disagree [ ]

11. Do you agree that the use of information technology has increase the market structure

of organization? Strongly agree [ ] agree[ ] disagree [ ]disagree strongly [ ]

12. Have IT and T‟S (Information system) tune with the current trend in industry in

terms of global market? Strongly agree [ ] agree[ ] disagree [ ]disagree strongly [ ]

46
13. Did organization (Unilever plc) speeds a list of its budget in updating information

system? Strongly agree [ ] agree[ ] disagree [ ]disagree strongly [ ]

14. What extent has employees of the organization encouraged to contribute in the design

and implementation of information system? Very high [ ] moderate [ ] low [ ]very low [ ]

15. Will IT management and security control work effectively if staff are not part of the

designing stage? Very high [ ] high [ ] low [ ]so low

SECTION C: PERCEPTIONS ON THE EFFECTS OF ACCOUNTING

INFORMATION

16. Accounting information plays a crucial role in the strategic planning of the

organization. Strongly Agree [ ] Agree [ ] Understand [ ] Strongly Disagree [ ] Disagree

[]

17. Accurate accounting information is essential for making informed business decisions.

Strongly Agree [ ] Agree [ ] Understand [ ] Strongly Disagree [ ] Disagree [ ]

18. The quality of accounting information affects the financial performance of the

organization. Strongly Agree [ ] Agree [ ] Understand [ ] Strongly Disagree[ ] Disagree

[]

19. The availability of real-time accounting information enhances management’s ability

to respond to market changes. Strongly Agree [ ] Agree [ ] Understand [ ] Strongly

Disagree [ ] Disagree [ ]

20. Accounting information is a vital tool for evaluating the financial health of the

organization. Strongly Agree [ ] Agree [ ] Understand [ ] Strongly Disagree [ ]

Disagree [ ]

47
PERCEPTIONS ON THE EFFECTS OF ACCOUNTING INFORMATION

Carefully read the items below and tick {√} the appropriate option in the space provided

as it applies to you.

KEY: SA- Strongly Agreed, A- Agreed, U- Undecided, SD- Strongly Disagreed, D-

disagreed.

What is your idea about the role of each of the following factors, contributing towards

educational effects on birth rates? Based on the importance of each factors, please score

using the above keys.

S/N FACTORS TO BE CONSIDERED SA A U SD D

21 Proper analysis of accounting information can lead

to better resource allocation within the

organization.

22 Accounting information monitors departmental

performance within the organization.

23 The integration of IT in accounting has made it

easier to interpret and analyze financial data.

24 Management relies heavily on accounting

information to make operational decisions.

25 The accuracy of accounting information can affect

the trust and confidence of stakeholders in the

organization.

48