Abstract:
Currently, the demand for accounting information system is increasing due to its high influence on the organizational performance and emerging area to be investigate. Thus, the current article aims to examine the impact of accounting information system on the performance of the petroleum industry in Nigeria. The leading contribution of the petroleum industry in the gross domestic product (GDP) of the country and extensive use of accounting information has enhanced the need for investigation of this emerging area. The data has been collected from the financial statements of the eight oil and gas companies in Nigeria that are the most prominent contributor in GDP form year 2011 to 2020, and descriptive and panel multiple regression has been used for analysis with the help of stata-13 package. The results show that only earning after tax as one of the proxies for information accounting system has positively linked with the performance of the management. This study concluded that the oil and gas industry in Nigeria doesn’t implement the effective AIS in their organization that is the reason for the low performance of the management in the oil and gas industries under study. This research recommends that management of oil and gas companies in Nigeria should make use of automated Accounting Information System (AIS) known as ‘Contract Plus – Financial & Project Accounting’ package in their Finance Department. This software will generate financial data to be analysed by the accountants and subsequently used by top level of management for strategic decision making, thus, these managers could identify future opportunities and limitations face by the company and industry.
