Record Details

Compliance with Statement of Accounting Standard 14 by Listed Oil and Gas Firms in Nigeria

Applied Finance and Accounting

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Title Compliance with Statement of Accounting Standard 14 by Listed Oil and Gas Firms in Nigeria
 
Creator Muhibudeen, Latifat
Abdulrahman, Sadiya
 
Description The study aimed at examining the financial statements of Companies in the Nigerian petroleum industry in other to determine their level of transparency which is a function of their level of compliance with the provisions of Statements of Accounting Standards (SAS) 14 in the upstream sector. Data were collected from annual reports and accounts of the 14 listed oil companies for the period of five years 2013 to 2017. They were analyzed using compliance index, descriptive statistics, correlation and regression. The result reveals that oil and gas companies in Nigeria strongly complied with the requirements of SAS14 with 92.44%. It also shows that the age, size of assets, ROA and Leverage of the companies have insignificantly effect on SAS 14. The study recommends that International Accounting Standard Board, Financial Reporting Council and other relevant regulatory bodies to, as a matter of urgency, commission additional and effective follow up campaigns and supervision aimed at enlightening not only corporate bodies but also individual stakeholders on the benefits derivable from compliance with requirement of SASs.
 
Publisher Redfame publishing
 
Contributor —
 
Date 2019-11-27
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://redfame.com/journal/index.php/afa/article/view/4632
10.11114/afa.v6i1.4632
 
Source Applied Finance and Accounting; Vol 6, No 1 (2020); 15-24
2374-2429
2374-2410
 
Language eng
 
Relation http://redfame.com/journal/index.php/afa/article/view/4632/4805
 
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