Evaluation Of Effective Financial Management In A Computerized Accounting System

This study was based on computerized accounting effectiveness and financial reporting at Stanbic Bank, Mbarara Branch. The objectives of the study were; to determine the uses of a computerized accounting information system, to find out the pros and cons of computerized accounting to financial institutions, and to establish the qualities of financial reports generated by computerized accounting system. The researcher used qualitative and quantitative research designs with a sample of size 15 respondents. Both primary and secondary data were used and the data collection methods were questionnaires, observation interviews and investigative procedures. The study revealed the existence of a computerized accounting system at Stanbic Bank Limited and this system has enhanced operational efficiency. It has not only improved the quality of financial reports but also provides timely reports on daily activities and has to a certain extent helped to minimize the risk of fraudulent transactions. The study established that computerized accounting had a great impact on quality of financial reports and that many financial statements were generated through the computerized accounting system. The findings shows a strong significant positive relationship between the variables (r=0.861**, p>0.01) which implies that computerized accounting and financial reporting at Stanbic Bank Uganda are strongly related. The computerized accounting system is of a great importance to the running of the company but is also associated with its own weaknesses that hinder efficiency in the company"s business environment. A continuous culture of utilizing a computerized accounting system is recommended.

The objectives of the study were:-

1. To evaluate the strength of the computerized accounting system used by Stanbic Bank , Mbarara Branch.
2. To find the pros and cons of computerized accounting to financial institutions.
3. To establish the qualities of financial reports generated by computerized accounting systems.
4. To establish the relationship of computerized accounting and financial reporting in financial institutions in Uganda

The study was guided by the following research questions:-

1. How efficient is the computerized accounting system that Stanbic Bank is using?
2. What are the pros and cons of computerized accounting over manual accounting in financial institutions?
3. What are the qualities of financial reports produced by a computerized accounting system?
4. What are the relationship of computerized accounting and financial reporting in financial institutions in Uganda?

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