DESIGN AND IMPLEMENTATION OF A FIXED ASSET MANAGEMENT INFORMATION SYSTEM (A CASE STUDY OF UNITED AFRICAN COMPANY OF NIGERIA (UACN) DEVELOPMENT COMPANY PLC LAGOS)

ABSTRACT: In light of the expeditious advancement in Computer Technology, a multitude of organisations have wholeheartedly embraced the utilisation of computer resources within their operational framework, thereby facilitating the attainment of their predetermined objectives. Electronic data processing is an exceptional instrument that finds extensive utilisation in the realm of financial accounting, serving as a catalyst for enhanced performance and heightened precision. The primary objectives of a fixed asset management information system revolve around the development of an automated, comprehensible, and streamlined system that effectively addresses the challenges associated with ascertaining asset depreciation and valuation inherent in traditional systems. The paper delineates the diverse limitations and import of the fixed asset system within the preliminary segment, with the aim of formulating an appropriate resolution. Furthermore, the project undertakes a comprehensive evaluation of various concepts pertaining to the depreciation of fixed assets within the context of the extensive review of previous scholarly works. Nevertheless, it is evident that the current system and its functioning have undergone thorough examination in order to deduce a comprehensive comprehension of the manual methodology and rationale behind the implementation of a system assistance. Therefore, the novel systems design encompasses the delineation of input and output specifications, the meticulous examination of file analysis forms, and the gradual formulation of the programme design. Moreover, the project explicitly demonstrates the algorithms that effectively generate the source code and flowchart within the framework of project documentation. The manuscript elucidates the utilisation of the novel system through the employment of function keys, password authentication, system modification, and ultimately, proffers recommendations to facilitate system maintenance.