THE IMPACT OF INFORMATION AND COMMUNICATION TECHNOLOGY ON ACCOUNTING PRACTICE IN NIGERIA A CASE STUDY OF PZ CUSSON ABA

CHAPTER ONE

1.0   INTRODUCTION

        Information has been a vital tool in decision making process. Since the dawn of civilization, people have acquired information to aid them in their personal battle to survive as they attempt to manage their businesses. The increasing complexity of the society especially, as is manifested in social, political and economic institutions, has necessitated the more, man’s quest for more relevant information on a more regular basis. The processing of facts that can be traced back to thousand years ago.

        Every financial manager has been concerned with the processing of facts or data, about his businesses operation so as to provide the most accurate and timely information to management. In order to provide this accurate and timely information to management, financial manager continuously sought more improved means of processing data. With the advent of industrial revolution, the need for faster, more efficient and also other methods of processing data became apparent. To satisfy these needs, various types of automated devices were introduced into the business world. Of these, electric computer is the most efficient and foremost as well as the fastest, and mot sophisticated device built by man

        Charles Babbage, an English Mathematician, designed the first mechanical calculation machines that incorporated the concept of input, Processing, and output in its design. The machines were the difference and analytical engines.

        The difference engine was originally designed for working out tables of logarithm, it was based on the concept of difference of polynomials, the more complex machine, it was a general ‘purpose information processing machine, which has the input, output and processing units.

        The analytical engine closely resembled modern computer in the following ways.

(a)    One part of the machine known as the mill was dedicated to calculations (similar to the arithmetic unit of the modern computer central processing unit CPU)

(b)    It had a part that ensures that all operations were carried out in correct control unit of the modern (CPU)

(c)    It had a series of cogs that ensured that numbers were not presented to the mill until they were required for calculation this is equivalent to the storage unit in the present day computers.