The effect of accounting software on financial reporting quality, a study on the Electricity Company of Ghana - Kumasi

Abstract

The main objective of this study will seek to investigate the effect of Accounting Software on financial Reporting Quality in delivering Financial Accounting information for making crucial organizational decisions by management. It also aims at assessing Accounting Software support to the production of Financial Statements in time, accurate recording transactions and also to ascertain the level at which accounting professionals in this field (utility) has adopted and applied information technology and conformed to the International Accounting Standard (AIS).The study, first analyses the initial phase of AS adoption in the organization, and shows how limited Accounting personnel skills, unplanned and uncoordinated innovations, and overwhelming organizational defects resulted in the inability of the technology to produce intended results. The study then proceeds to discuss how these initial problems were dealt within the subsequent phase to produce more positive outcomes. Reasons for this success included comprehensive data analysis, departmental representation in planning, and corporate support for the technologies at the highest organizational levels. Based on these findings the study concludes that ECG will be able to meet its stakeholder’s information needs with aid of Accounting Software.