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DESIGN AND IMPLEMENTATION OF A COMPUTERIZED FIXED ASSETS MANAGEMENT SYSTEM (A CASE STUDY OF INSTITUTION OF MANAGEMENT AND TECHNOLOGY, ENUGU STATE)

Dept: COMPUTER SCIENCE File: Word(doc) Chapters: 1-5 Views: 1

Abstract

This project work termed “Design and implementation of Computerized fixed assets management information system” is aimed providing greater efficiency, accuracy and speed in all their processing operation, good public relations and improve services to users. The software was designed to eliminate the problems found in the existing system which includes: improper accounting for school assets, illegal use of the institutional assets, inefficient recording keeping of institutional assets, wastage of time and stress due to manual operation in the system. The methodology used is Structured System Analysis and Design Methodology (SSADM) because each phase must be complete in its entirety before the next phase can begin. The choice of language adopted is Visual Basic programming language due to the flexibility they provide. The software was tested with windows 10. The result achieved is, 1) A better service that speed-up fixed assets information processing, and ensures data security by restri
1.1 Background to the Study

In this modern age, where information technology is changing the lives of people constantly across the globe, the computer system has become something of great importance to even the commonest of man. The number of application which computer have been put can be said to be virtually unlimited. This is no surprise, as there are no limits to the number of problems that old arise from all fields of human endeavor. In fact, any problem can be solved with a computer as long as its solution can be expressed as a logical sequence of executable steps.

Odogbo (2018) said that with the growth and popularity computer technology has received in the past few years, the only important file that computers have filed to change dramatically is education “computers have taken a major position in the world because they can execute many tasks more effectively than human. It has formed a coalition with virtually every other technology including – industrial, communication, medical office etc. computers are also applied in accounting, education, finance, health administration and military etc. the use of computers is also expensive that it would be almost impossible to form an exhaustive list.

Fixed assets management is an accounting process that seeks to track fixed assets for the purposes of financial accounting, preventive maintenance, and theft deterrence.

Many organizations face a significant challenge to track the location, quantity, condition, maintenance and depreciation status of their fixed assets. A popular approach to tracking fixed assets utilizes serial numbered Asset Tags, often with bar codes for easy and accurate reading. Periodically, the owner of the assets can take inventory with a mobile barcode reader and then produce a report. Off-the-shelf software packages for fixed asset management are marketed to businesses small and large.

Some Enterprise Resource Planning systems are available with fixed assets modules. Some tracking methods automate the process, such as by using fixed scanners to read bar codes on railway freight cars or by attaching a radio-frequency identification (RFID) tag to an asset. Tracking assets is an important concern of every company, regardless of size. Fixed assets are defined as any ‘permanent’ object that a business uses internally including but not limited to computers, tools, software, or office equipment. While employees may utilize a specific tool or tools, the asset ultimately belongs to the company and must be returned. And therefore without an accurate method of keeping track of these assets it would be very easy for a company to lose control of them.

Asset tracking software allows companies to track what assets it owns, where each is located, who has it, when it was checked out, when it is due for return, when it is scheduled for maintenance, and the cost and depreciation of each asset.

The reporting option that is built into most asset tracking solutions provides pre-built reports, including assets by category and department, check-in/check-out, net book value of assets, assets past due, audit history, and transactions.

All of this information is captured in one program and can be used on PCs as well as mobile devices. As a result, companies reduce expenses through loss prevention and improved equipment maintenance. They reduce new and unnecessary equipment purchases, and they can more accurately calculate taxes based on depreciation schedules. The most commonly tracked assets are: Office Equipment, Evidence, Medical Equipment, IT Equipment, for example laptops, Vehicles, Files, Maintenance supplies, Educational materials, Software licenses, Videos, and Tools.

What motivated the researcher to write this project is because of some reasons that was observed in the existing system. Some of the challenges are; time wastage: a lot of times are usually wasted using manual means in registering fixed assets information, improper accounting for school assets, illegal use of the institutional assets, it is very cumbersome to manually reconcile all registered fixed assets from different files sources into their worksheet, lack of data integrity: due to the manual mode of keeping record, intruders enjoys ease access to the record – altering the sensitive information. Because of the problems observed in the existing system, the used of a fixed assets management information system was introduced to safeguard, prevent information system from the threats associated to them. A fixed assets management information system was introduced so that unauthorized access or abuse of important information will be eliminated.

1.2 Statement of the Problems

The manual means of documenting fixed assets is associated with so many in-efficiencies. The bottleneck encountered includes:

i. Time wastage: a lot of times are usually wasted using manual means in registering fixed assets information.

ii. Improper accounting for school assets.

iii. Illegal use of the institutional assets.

iv. It is very cumbersome for staff to manually reconcile all registered fixed assets from different files sources into their worksheet.

v. Inefficient recording keeping of institutional assets.

vi. Due to the manual mode of keeping record, Intruders enjoys ease access to the record, altering the sensitive information.1.3 Aim and Objectives of the Study

The main aim of this project is to design and implement a fixed assets management information system for Institute of Management and Technology (IMT), Enugu State.

The specific objectives to achieve the aim are as follows:

i. To develop software called Fixed Assets Management system that will replace the manual method of handling assets.

ii. To save the time wasted when searching or sorting a given Assets management data/information.

iii. To develop a stress-free system for staff to easily document fixed assets information.

iv. To eliminate the error involved with the manual storage of Assets management data/information.

v. To ensure data security by restricting access to the program and to the database.

vi. To ensure easy access and retrieval of data in the program.1.4 Significance of the Study

The use of a fixed assets management information system will go a long way to solve the problems encountered in the existing system for managing fixed assets information in IMT, Enugu State. However, fixed assets management information system will provide advantages such as stress-free system for staff to easily document fixed assets information, eliminate the error involved with the manual storage of Assets management data/information, it will help in a good number of ways to ease the process of retrieving data and records in the system. This study will serve as a useful reference material to other researchers seeking related information. Afterwards, further development can be made on the project work in accordance to the rapid development in information technology in the near future.

1.5 Scope of the Study

This project work is narrowed to Fixed Assets Management system for IMT, Enugu state. It deals with the development of Fixed Assets Management system to help in the effective record keeping of Assets management data/information in the institution. It contains all the record of the assets owned by the institution.1.6 Limitations of Study

In the course of carrying out this research work a number of problems were encountered.

i. Lack of adequate fund to finance the project: this was another limitation to this work because much money is needed to carry out a detailed research work which is not easily borne by every student.

ii. The limited knowledge of Visual Basic programming was great challenge to this project. However, more research was made to complete this project successfully.

iii. Time Constraints: Looking at the interval between the resumption of the final semester, the time given is too short for collection of required information and a more comprehensive fact finding for a better work would have been done if given enough time.1.7 Definition of Terms

Assets: a thing, especially property owned by a person, company, etc. that has value and can be used or sold to pay debts.

Automation: It is the replacement of human workers by technology; a system in which a workplace or processes has been converted to one that replaced or ministries human labor with electronic or mechanical equipment.

Computer: An electronic device that can accept information/data inform of input, process the data/information in order to produce output and has the ability to the information for future use.

Data Entry: This is the standard input device through which the system gets more of the instructions and commands.

Data processing: It is defined as the entire process of converting or manipulating data into definite meaningful information (Adigwe, & Okoye, 2015).

Data Security: Data security prevents unauthorized users from viewing or updating the database by the use of passwords.

Data: This is the collections of vital information that meant to be processed.

Database Management System (DBMS): It is software which controls the flow of data and checks and checks on how data are stored.

Database: This is an organized /unique collection of related files. It is a collection of schemas, tables, queries, reports, views and other object.

Design: This is the art or process of designing how something will look, work.

Documentation: material that provides official information or evidence that serves as record; written specifications and information that describes the product.

Information Management System (IMS): It is a data base and transaction/record management system that was first introduced by IBM in 1968. Since then.

Information system: A computer Information System (IS) is a system composed of people and computers that processes or interprets information. The term is also sometimes used in more restricted senses to refer to only the software used to run a computerized database or to refer to only a computer system.

Information: Information (shortened as info or info.) is that which informs, i.e. an answer to a question, as well as that from which knowledge and data can be derived (as data represents values attributed to parameters, and knowledge signifies understanding of real things or abstract concepts).

Management: The people who control and make of decisions in a business, or similar organization.

Security: It is protection from allowing an unauthorized users from accessing certain data within the database, it protects your data/ files.

Software: It is a program or a set of programs written to carry out some task in the computer, it also perform logical related programs that works together to control the hardware.

Storage: This is the process through which data/information is stored for future use.

System: A group of interrelated components working together toward a common goal by accepting inputs, processing it and producing outputs in an organized transformation process.