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Empirical Analysis of the Effect of International Financial Reporting Standards (IFRS) Adoption on Accounting Practices in Nigeria

Archives of Business Research

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Title Empirical Analysis of the Effect of International Financial Reporting Standards (IFRS) Adoption on Accounting Practices in Nigeria
 
Creator H. Taiwo, Fasina
Adejare, Adegbite Tajudeen
 
Description This study empirically analyses the effect of international financial reporting standards (IFRS) adoption on accounting practices in Nigeria. The study adopted personal interview and questionnaire methods as the major techniques for primary data collection. Data collected were analyzed using both descriptive such as tables, frequencies and percentages and inferential statistics of Chi-square and ANOVA respectively. The study concluded that that there is a strong positive relationship between the adoption of IFRS and financial performance due to cost reduction of an organisation. IFRS adoption improves business efficiency and productivity for effective business performance. The adoption of IFRS saves Multinational Corporations the expense of preparing more than one set of accounts for different national jurisdictions. It is recommended that the financial reporting practice in Nigeria should cut across the public and private sector to bring uniformity in accounting practice regarding annual preparation of financial reports to the owner of companies and other interested parties.
 
Publisher Archives of Business Research
 
Contributor —
 
Date 2014-04-30
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://www.scholarpublishing.org/index.php/ABR/article/view/43
10.14738/abr.22.43
 
Source Archives of Business Research; Vol 2, No 2 (2014): Archives of Business Research; 01-14
2054-7404
10.14738/abr.22.2014
 
Language eng
 
Relation http://www.scholarpublishing.org/index.php/ABR/article/view/43/109