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Challenges of cost benefit analysis in a computerised accounting system 2025

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The document is a research study titled 'The Challenges of Cost Benefit Analysis in a Computerized Accounting System,' focusing on the Coca-Cola Bottling Company in Enugu, Nigeria. It explores the viability and implications of implementing computerized accounting systems, particularly addressing potential industrial unrest due to resistance from workers. The study employs chi-square methodology for data analysis and concludes that while computerization can lead to cost savings and efficiency, it may also impact employee morale. Recommendations include enhancing staff training on computer usage and further integrating computerized systems into various business functions.

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What is a problem with using cost-benefit analysis?

In sum, the data show that the main problem with cost-benefit analysis is not error, but bias. This is bad news, because where errors tend to cancel out each other because of their randomness, biases are systematic and therefore compound leading to results of cost-benefit analysis that are highly misleading.

What are the challenges of Computerised accounting system?

Since the system stores sensitive financial data, it is vulnerable to cyber-attacks, data breaches, and theft. Businesses need to implement robust security measures such as firewalls, anti-virus software, and data encryption to protect their financial data from external threats.

What are some of the challenges of using the cost-benefit analysis?

Common challenges in the cost-benefit analysis of adaptation: Establish a benchmark for evaluation. Valuation of non-market benefits. Discounting rate selection. Incorporating social equity in economic evaluations.

What is the major problem concerning the cost-benefit ratio analysis?

Limitations of Cost-Benefit Analysis Accurately performing a detailed cost-benefit analysis requires capital and resources, such as personnel and dedicated time. For smaller decisions, this may be more expensive than is worthwhile for the project. A cost-benefit analysis relies heavily on estimates and forecasts.

What are the main limitations of cost-benefit analysis?

While CBA is a powerful tool, it has its limitations: Hard to quantify intangible factors. Assigning a monetary value to factors like environmental impact or brand reputation can be challenging, which may lead to oversights. Potential for bias.

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What are the limitations of a cost-benefit analysis?

However, its crucial to be aware of the limitations and challenges of CBA. Although it provides a structured method for decision-making, its accuracy relies heavily on the precision of forecasts and assumptions. Incorrect estimates of future costs or benefits can result in faulty conclusions.

What are some of the challenges in implementing a cost-benefit analysis?

Often, in practice, the included costs and benefits are limited to those that are measurable, which has potential to bias decision-making. Choosing the time frame of an economic evaluation can also be challenging.

Challenges of cost benefit analysis in a computerised accounting system 2025

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