DESIGN AND IMPLEMENTATION OF A COMPUTERIZED ACCOUNTING INFORMATION SYSTEM
A computerized accounting information system collects, stores and processes financial/economic data for decision making purposes. The study examines the manual (existing system) of book-keeping and accounting in-order to reproduce a system exacly like the manual accounting system, but in a computerized/automated manner.
Confronted with the problem of in-adequate book-keeping practices of most small and medium enterprises in Nigeria, the researcher designed a computerized system that is convenient, accurate and user friendly for SME operators to utilize.
The system is built using PHP computer language, and can run on a virtual server for multiple users. The software encompasses all standard accounting practices/methodologies ranging from daily journal postings/sales, purchases, inventories, expenses etc. to the financial statements such as statement of comprehensive income, statement of financial position and the traditional cash book.
Other features making the application a unique one, is the ability of the application to measure financial performance of the enterprise as well as budgetary controls and bank reconciliation functions.
KEY WORDS: Account, PHP, Profit, SMEs, Financial Statement, IFRS.