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| Assessment of The Role of Computerized Accounting System on Efffectiveness of Financial Performance of Banks In Tanzania. A Case of Crdb And TCB Banks At Iringa Municipality
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Jailos Kalingani Mtindya, Lupyana Samwel Kilimhana, Lusekelo Kibona
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Abstract:
The research topic of this study is "The Assessment of the role of Computerized Accounting System on Tanzanian banks`` - A case study of the CRDB and TCB bank at Iringa municipality. The purpose is to know whether the application of Computerized Accounting System supersedes that of manual Accounting System and that if computerized Accounting System enhances higher turnover and profitability, and also whether a computerized accounting system is an effective means of keeping accounting records. The study's population is 200 persons who are the members of staffs of the two (2) selected banks at Iringa municipality. Using the Taro Yamane's formula the sample size calculated gave (60). The formulated hypotheses were tested using the analysis of variance (ANOVA) statistical technique at 5% level of significance. The researcher also made use of primary methods of data collection which included questionnaire. The findings of the study revealed that (i) Easy accessibility of financial information is statistically significantly related to effectiveness of financial performance of banks, (ii) Increased speed of transaction is statistically significantly related to effectiveness of financial performance of banks and (iii) Installation cost of computerized accounting system is statistically significantly related to effectiveness of financial performance of banks. The study concluded that the advantages of a Computerized Accounting System far outweigh its associated challenges as it has impacted the financial reporting of the banks positively. Hence, there is the need for businesses, particularly banks to adopt a Computerized Accounting System. Based on these, the study recommended that the bank should channel most of their resources in the training and development of bankers and Accountants personnel in computerized accounting system related technology such as I.C.T to boost performance in their banking operations and their personnel. Also due to the widespread of computer trends and its dynamics nature, it is recommended that banks who are still battling with manual system should adopt specifically the Computerized Accounting System.
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