{"id":7098,"date":"2022-11-18T07:09:20","date_gmt":"2022-11-18T07:09:20","guid":{"rendered":"https:\/\/file.currentschoolnews.com\/?post_type=product&p=7098"},"modified":"2022-11-18T12:41:57","modified_gmt":"2022-11-18T12:41:57","slug":"adoption-of-international-financial-reporting-standards-and-performance-reporting-of-nigerian-deposit-money-banks","status":"publish","type":"product","link":"https:\/\/pastexamquestions.com\/product\/adoption-of-international-financial-reporting-standards-and-performance-reporting-of-nigerian-deposit-money-banks\/","title":{"rendered":"Adoption of International Financial Reporting Standards and Performance Reporting of Nigerian Deposit Money Banks"},"content":{"rendered":"

– Adoption of International Financial Reporting Standards and Performance Reporting of Nigerian Deposit Money Banks –<\/strong><\/span><\/p>\n

Download Adoption of International Financial Reporting Standards and Performance Reporting of Nigerian Deposit Money Banks<\/strong><\/span>. Students who are writing their projects can get this material to aid their research work.<\/span><\/span><\/p>\n

Abstract<\/strong><\/h3>\n

The main objective of the study involved the assessment of the impact of the adoption of International Financial Reporting Standards on the performance reporting of Nigerian Deposit Money Banks using financial ratios.<\/p>\n

While the specific objectives involved the examination of the effects of the adoption of IFRS on the reported profitability measured by return on equity (ROE),<\/p>\n

on the reported liquidity, measured by current ratio (CR), on the reported gearing ratio measured by Total Deposit to Equity (TDE), and on the reported interest cover measured by (FCC) of the Nigerian Deposit Money Banks.<\/p>\n

The globalization of business had necessitated the introduction of International Financial Reporting Standards (IFRS) in order to present a globally accepted and high quality financial statements which will provide reasonably accurate information about a company\u2019s financial performance to investors and other interested parties.<\/p>\n

However, accounting under IFRS and pre-changeover Nigerian accounting standards hampers the consistency of information in the financial statements due to the application of fair value accounting and thus affects the performance of Nigerian Banks.<\/p>\n

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Introduction<\/strong><\/h3>\n

1.1 Background of the Study<\/strong><\/p>\n

The globalization of business had necessitated the introduction of International Financial Reporting Standard (IFRS) in order to present a globally accepted and high quality financial statements which will provide reasonably accurate<\/p>\n

information about a company\u2019s financial performance to investors and other interested parties that will enable them take investment, credit and similar resource allocation decisions across the globe. (Blanchette, et al, 2011).<\/p>\n

With the advent of globalization the world\u2019s capital markets have witnessed rapid expansion, diversification and integration. This has brought about a shift away from local financial reporting standards to global standards.<\/p>\n

Hence, it is in recognition of the need to have quality financial reports that the adoption of International Financial Reporting Standard (IFRS) is becoming the vogue among countries. (Omowuyi & Ahmed, 2011).<\/p>\n

The goal of financial reporting is to make information available for decision making. Diversity in financial reporting in different countries arises because of the difference in legal and tax systems and business structures.<\/p>\n

The International Financial Reporting Standard is intended to harmonize this diversity by making information more comparable and easier for analysis, promoting efficient allocation of resources and reduction in capital cost. (Ajibade, 2011).<\/p>\n

Various nations have been using their own Generally Accepted Accounting Principles (GAAP) and the basic accounting concepts to prepare their financial reports. However, over the years, many and several financial reports have come with discrepancies and differences that render such reports incomparable across nations.<\/p>\n

Secondly, reconciliation of these reports may not really be possible and thus it becomes difficult to use them to make financial decision across nations. \"\"<\/span><\/a><\/p>\n

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