Department of Accounting

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https://repository.run.edu.ng/handle/123456789/61

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Browsing Department of Accounting by Subject "Adoption"

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    Adoption of International Financial Reporting Standards (IFRS) and Quality of the Central Bank of Nigeria (CBN) Financial Reports
    (2018-10) Olasupo, Sunday Festus
    The study examines the effect of IFRS adoption on the quality of CBN financial reports. Consequent upon the adoption of IFRS in Nigeria and the staged implementation plan necessitating Publicly Listed Entities (PLCs) and significant Public Interest Entities (PIEs) to implement IFRS by 1st January 2012, CBN was required to adopt this set of standards. The study employed the descriptive and explanatory research design while secondary data was obtained from CBN Annual Reports and Statistical Bulletins from 2005 to 2015 indicating pre and post IFRS adoption era. Data analysis was conducted by means of the descriptive and inferential statistics while the Autoregressive Distributed Lag (ARDL) was used as the regression model. The result showed that at 5% level of significance, IFRS adoption has a significant effect on the quality of CBN financial reports though positively in the short-run but negatively in the long-run. IFRS standards which are much more targeted towards special legal entities as central banks should thus be looked into as it will invariably influence the quality of her financial reports.
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    Prospects and Challenges of Financial Reporting in Nigeria
    (Science Arena Publications Specialty Journal of Accounting and Economics, 2019) Olasupo, Sunday Festus
    The study examines the effectiveness of International Financial Reporting Standards (IFRS) on financial reporting in Nigeria. The study is based on secondary data and descriptive in nature. Thereafter, content analysis method was used to highlight legal, environmental, and cultural challenges peculiar to Nigeria. The findings show that standards used in developed nations are also being applied to corporate entities in Nigeria to give adequate information to all stakeholders in financial reporting. Nevertheless, the neglect of corporate governance practices had led to significant losses to nearly all the stakeholders. Therefore, the study recommends among other things that additional standards should be included in accounting reports like translating accounting reports into the three officially recognized indigenous languages in Nigeria and addressing information overload in the accounting report