Information Quality of the Accounting System of a Life Plan Company

Abstract

This study aims to assess the Quality of Information of the Accounting System of Life Plan Companies in the National Capital Region. The descriptive method of research was utilized in the study and data was gathered using survey questionnaires. The hypothesis was tested at .05 level of significance. Statistical tools employed in the study were frequency, percent distribution, ranking, weighted mean, t-test, and one-way analysis of variance. The study reveals that majority of the respondents obtained a Bachelor’s Degree, 79 or 86.81%; had 3 to 5 years of work experience, 31 or 34.07%; participated in 1 to 2 trainings, 51 or 56.04%; and 58 or 63.74% of them were staff. The respondents’ assessments on the information quality of the accounting system were interpreted as “Strongly Agree” on the following aspects: Accuracy, Completeness, Understandability, and Verifiability. However, Timeliness was assessed with the interpretation “Agree.” It was also revealed that when respondents were grouped by highest educational attainment, there was a significant difference in the respondents’ assessment for all aspects of information quality, except for accuracy. When respondents were grouped by work experience, there was no significant difference in the respondents’ assessment in all aspects of information quality, except for accuracy where p-value is less than the assumed level of significance. Similarly, the study also reveals that there was significant difference in the respondents’ assessment on all aspects of information quality when respondents were grouped both by number of trainings related to accounting system participated in for the last 3 years and by position level.