Accounting software and quality of corporate reporting in profit-oriented companies
Abstract:Tracking the various business parameters
variables related to the business’s goal is a difficult task to do without the
right tools. Failure to properly put in place accounting processes that oversee
and manage such parameters has led to the demise of many promising small and
big organizations. This work looks into how the use of accounting software affects
the quality of reporting while focusing on the tools and application modules that
make the process hitch-free. Because of the lack of local data and feedback
from first-hand operators of accounting software, the study infers knowledge
from other works on the effectiveness of accounting software in organizational
reporting. It also looks into the tools that come with Microsoft Excel, one of
the most widely used accounting software in Nigeria. We make use of sales data
gotten online to implement this tool and the result shows that the Microsoft
Excel application is capable of minimizing errors, automating tasks, and
forecasting. By making use of Excel Solver, we were able to determine the
percentage of the baby food product that must be sold at the highest price to
maximize profit. the solution model shows that at the lowest forecast rate of
67%, the organization will make $163,875,000.00 and $180,000,000.00 at 100%.
The study concludes that accounting software is critical to the overall
well-being of corporate organizations in Nigeria as it brings about a profound
ease of corporate accounting processes