THE IMPACT OF TECHNOLOGICAL ADVANCEMENTS ON FUND ACCOUNTING
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Abstract: THE IMPACT OF TECHNOLOGICAL ADVANCEMENTS ON FUND ACCOUNTING
This study aims to: (1) explore the role of technological advancements in enhancing fund accounting efficiency, (2) assess the adoption rates of advanced accounting technologies among fund accountants, and (3) evaluate the impact of technology on the accuracy and reliability of fund accounting. A survey design was used to collect data from 360 fund accountants in Lagos, with the sample size determined using Taro Yamane's formula. Lagos was chosen due to its status as a technological hub. The survey instrument had a reliability coefficient score of 0.89. Findings reveal that technological advancements, such as blockchain, AI, and cloud computing, significantly improve the efficiency and accuracy of fund accounting. The study recommends increased investment in advanced accounting technologies and continuous training for fund accountants to stay abreast of technological developments.
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