INFORMATION TECHNOLOGY AND ITS INFLUENCE ON ACCOUNTING PRACTICES IN BIDA

Abstract

Information technology (IT) has revolutionized the way businesses operate globally, transforming traditional practices and improving efficiency across various industries. Adopting the descriptive survey, this research focused on information technology and its influence on accounting practices in Bida by identifying the challenges and opportunities that information technology presents for accounting professionals. The population comprised of 1,002 professional accountants and practitioners working in public and private establishments in Bida. Convenience sampling was utilized to select participants that have experience in information technology in their accounting practices. Structured questionnaires was administered and multiple regression analysis and Likert scale were employed to study the relationship between information technology and accounting practices; Taro-Yamane formula was adopted to arrive at a sample size of 286. Findings revealed that IT has improved the efficiency of accounting procedures even though it can be difficult for accounting professionals to adjust to new IT technologies. Nonetheless, the study drew attention to significant obstacles in adjusting to new IT technologies essentially brought on by insufficient infrastructure, lack of skilled labour and expensive implementation expenses. It was therefore recommended that both the public and private sectors should to work together to enhance IT infrastructure so that accounting companies may effectively embrace and use cutting-edge IT tools.