International Financial Reporting Standards (IFRS) Adoption and Oil & Gas Companies Performance in Nigeria PDF Download
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Author: Aminu Abdullahi
Publisher:
ISBN:
Category :
Languages : en
Pages : 4
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Book Description
This study investigates the effect of IFRS adoption on the performance of oil and gas marketing companies in Nigeria. The study utilise financial statements of a sample of eight (8) oil and gas companies operating in the country. These companies were purposively selected due to availability of data. Firms' performance was proxied by Profit Margin (PM), Return on Assets (ROA) and Return on Equity (ROE) ratios and were considered as dependent variables to be determined by reporting regime (RR) as independent variable. While Current Ratio (CR), quick Test (QT), Total Debt Ratio (TDR) Earnings per Share (EPS) and Equity Debt Ratio (EDR) are use as control variables. The ratios were computed and compared for 4 years (2010 to 2011) before mandatory IFRS adoption and 2012 to 2013 often mandatory adoption OLS, regression with help of eviews 9 was employed for the analysis. The study reveals IFRS adoption has not improved the performance of oil and gas companies in Nigeria. The paper recommended that, oil and gas companies should continue to comply with provisions of IFRS as it will improve their reporting quality which may also improve their performance as result of more investment flow, easy access to capital and comparability.
Author: Aminu Abdullahi
Publisher:
ISBN:
Category :
Languages : en
Pages : 4
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Book Description
This study investigates the effect of IFRS adoption on the performance of oil and gas marketing companies in Nigeria. The study utilise financial statements of a sample of eight (8) oil and gas companies operating in the country. These companies were purposively selected due to availability of data. Firms' performance was proxied by Profit Margin (PM), Return on Assets (ROA) and Return on Equity (ROE) ratios and were considered as dependent variables to be determined by reporting regime (RR) as independent variable. While Current Ratio (CR), quick Test (QT), Total Debt Ratio (TDR) Earnings per Share (EPS) and Equity Debt Ratio (EDR) are use as control variables. The ratios were computed and compared for 4 years (2010 to 2011) before mandatory IFRS adoption and 2012 to 2013 often mandatory adoption OLS, regression with help of eviews 9 was employed for the analysis. The study reveals IFRS adoption has not improved the performance of oil and gas companies in Nigeria. The paper recommended that, oil and gas companies should continue to comply with provisions of IFRS as it will improve their reporting quality which may also improve their performance as result of more investment flow, easy access to capital and comparability.
Author: Masud Bala
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Toma Ayuba
Publisher: IPR Journals and Book Publishers
ISBN: 9914752837
Category : Business & Economics
Languages : en
Pages : 162
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Book Description
TOPICS IN THE BOOK Impact of Environmental and Social Disclosure on Return on Asset of Listed Oil and Gas Companies in Nigeria Assessment of Financial Reporting Quality in a Developing Country Using Nice Qualitative Characteristics Measurement Effect of International Financial Reporting Standards Compliance on Financial Reporting Quality: Evidence from a Developing Country Profitability, Leverage, Efficiency and Financial Distress in Commercial and Manufacturing State Corporations in Kenya Liquidity Capacity and Financial Performance of Commercial Banks in Kenya Factors Affecting First Year Students’ Performance in Fundamental Accounting Course: Case Study Kampala International University in Tanzania (KIUT)
Author: Olawale Luqman
Publisher:
ISBN:
Category :
Languages : en
Pages : 21
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Book Description
This research work examined the impact of International Financial Reporting Standard (IFRS) adoption on Banks performance in Nigeria. The study is based on the appraisal of IFRS compliance and Adoption. Both primary and secondary data were used in this study. The primary data would be sourced via a questionnaire administered in a survey conducted on examining the convergence to IFRS in Nigeria Commercial Banks using Access bank Plc. as a case study while the secondary data collected from Annual Report of Access Banks Plc from 2007 to 2012 as well as journals, textbooks and newspapers. The result of the analysis showed that at there is significant relationship adoption of IFRS and financial reporting of banks in Nigeria and that there is significant relationship between IFRS and banks performance in Nigeria. At degree of freedom 2 and 5% level of significance, the X2 table value is 5.99 while the calculated value is 6.380 and the F statistics computed value show a figure of 23.254 which is significant at 5% level of significant which leads to the rejection of the null hypotheses and the acceptance of the alternate hypotheses which state that there is significant relationship between adoption of international financial reporting standards and financial reporting of banks in Nigeria and that there is significant relationship between international financial reporting standards and banks performance in Nigeria. However, comprehensive implementation of the standard to its totality by firms in the country, and the regulatory authorities should monitor strict compliance.
Author: Tra Lam Pham
Publisher: Springer Nature
ISBN: 9464631503
Category : Business & Economics
Languages : en
Pages : 525
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Book Description
This is an open access book.University of Economics Ho Chi Minh City, Hanoi University of Science and Technology – School of Economics and Management, University of Economics and Business - Vietnam National University, Hanoi, National Economics University – Faculty of Business and Management, The University of Danang – University of Economics, Vietnam National University – International School, Foreign Trade University, University of Hertfordshire (UK), AVSE Global (France) and PPM School of Management (Indonesia) will organize The 10th International Conference on Emerging Challenges: Strategic Adaptation in the World of Uncertainties (SAWU) in Ho Chi Minh City, Vietnam (online sessions available for international participants) on November 4-5, 2022. We would like to invite you to be a part of the ICECH2022 and submit your research papers for presentation consideration. The aim of ICECH2022 is to provide a forum for academics and professionals to share research findings, experiences and knowledge for adaptation and business strategy in a post-Covid as well as various uncertainties and complexities in the world in the Asia-Pacific region. We welcome the submissions in Economics, Business, Innovation Management, and Business Law. Authors of accepted papers will be invited to present their work at the Conference. In addition, authors of best papers will also be invited to submit their papers to a special issue or a regular issue for publication consideration in selected journals. These papers will also be under an official double-blind peer-reviewed process by the journal.
Author: Professor Muhammad Tanko
Publisher:
ISBN:
Category :
Languages : en
Pages : 33
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Book Description
This paper assesses the effect of compliance with the regulation and provisions of the international financial reporting standards on the performance of some selected Nigerian banks that are quoted on the Nigerian stock market. The paper defines the change in performance based on two parameters. First, change in Accounting Quality of the firms, for which we used such variables as; earnings management, and timely loss recognition. Secondly we measure the performance of the firms based on changes on identified financial ratios of the firms. We tested the impact of adoption as it relates to profitability, growth, leverage, and liquidity performance. The paper utilizes secondary data to tests the effects of the adoption of IFRS on the performance of the selected firms in Nigeria. Logit regression and t-test were used in the analysis. The paper finds that variability of earnings has decreased from an average of 32624.4 to 14432.2 which suggest that there was low variability in earnings in the post adoption period. Timely loss recognition is the measure for prevalence of large negative earnings where large negative results suggest that the loss recognition is not timely in the post adoption period. For our study we found LNEG to be positive which signifies that IFRS firms recognize losses more frequently in the post adoption period than they do in the pre adoption period, we therefore conclude that accounting quality improves after the adoption of IFRS. Furthermore, under IFRS firms tend to exhibit higher values on a number of profitability measures, such as earnings per share (EPS). It is our recommendation that comprehensive implementation of the standard to its totality by firms should be encouraged and regulatory authorities such as the Securities and Exchange Commission, and external auditors should monitor strict compliance with the adoption and provisions of the standards.
Author: Nestor Amahalu
Publisher:
ISBN:
Category :
Languages : en
Pages : 19
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Book Description
The aim of this study is to determine the effect of adoption of International Financial Reporting Standard (IFRS) on the financial performance of banks in order to produce a more comparable, transparent and reliable financial statement. This study therefore, examines the effect of adoption of IFRS on the financial performance of Nigerian companies-evidence from Nigeria banking sector. The ex-post facto research design was adopted for this study. Mainly secondary data was used. Three hypotheses were formulated and tested in the course of this study. The statistical tool used to test the hypotheses was paired t-test statistic. It revealed that adoption of IFRS has significant effect on the profitability banks, and that IFRS has improved investors' confidence in the financial statement. It was concluded that IFRS has positive impact on the reported net income and equity of banks, and on their profitability. It was recommended that government and regulatory authorities should organize more quality training to get bankers informed.
Author: Navneet Singh
Publisher: Navneet Singh
ISBN:
Category : Business & Economics
Languages : en
Pages : 36
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Book Description
International Financial Reporting Standards (IFRS) are a set of accounting standards developed and maintained by the International Accounting Standards Board (IASB). They are designed to provide a common global language for financial reporting, ensuring that financial statements are comparable, transparent, and reliable across different jurisdictions and industries. Here's an overview of IFRS: Objective: The primary objective of IFRS is to provide a framework for the preparation and presentation of financial statements that provide useful information to users for making economic decisions. IFRS aims to enhance transparency, comparability, and reliability in financial reporting. Applicability: IFRS is used by many countries around the world as the basis for preparing financial statements of public companies. While some countries have adopted IFRS as their national accounting standards, others have converged their local standards with IFRS or permit the use of IFRS for listed companies. Additionally, multinational companies often use IFRS for their consolidated financial statements to ensure consistency across different jurisdictions. Principles-based Approach: IFRS adopts a principles-based approach to accounting standards, focusing on principles rather than detailed rules. This allows for flexibility in application and enables entities to provide relevant and reliable information that reflects the economic substance of transactions. Standard-setting Process: The IASB, an independent standard-setting body, is responsible for developing and issuing IFRS. The standard-setting process involves extensive consultation with stakeholders, including preparers, auditors, investors, regulators, and standard-setting bodies from different countries. The IASB also works closely with national standard-setters and accounting bodies to promote global convergence in financial reporting. Structure of IFRS: IFRS consists of a series of individual standards and interpretations, each addressing specific aspects of financial reporting. The main standards cover topics such as presentation of financial statements (IAS 1), revenue recognition (IFRS 15), leasing (IFRS 16), financial instruments (IFRS 9), and consolidation (IFRS 10). Additionally, there are interpretations (IFRIC) and framework documents that provide guidance on complex accounting issues. Continuous Development: IFRS is subject to continuous review and improvement to ensure its relevance and effectiveness in addressing emerging issues in financial reporting. The IASB regularly updates and issues new standards or amendments to existing standards in response to changes in business practices, economic environments, and regulatory requirements. Benefits of IFRS: The adoption of IFRS brings several benefits, including improved comparability of financial statements across jurisdictions, enhanced transparency and disclosure, increased investor confidence, and reduced costs for multinational companies operating in multiple jurisdictions. Overall, IFRS plays a crucial role in promoting high-quality financial reporting, facilitating global capital flows, and fostering economic growth and development by providing a common set of accounting standards that are recognized and accepted worldwide.
Author: Luqman Olawale
Publisher: LAP Lambert Academic Publishing
ISBN: 9783659766725
Category :
Languages : en
Pages : 108
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Book Description
This book examined the impact of International Financial Reporting Standard (IFRS) adoption on Financial Reporting of Banks in Nigeria. The study is based on the appraisal of IFRS compliance and Adoption. Both primary and secondary data were used in this study. The primary data would be sourced via a questionnaire administered in a survey conducted on examining the convergence to IFRS in Nigeria Commercial Banks using Access bank Plc. as a case study while the secondary data collected from Annual Report of Access Banks Plc from 2007 to 2012 as well as journals, textbooks and newspapers. The result of the analysis showed that at there is significant relationship adoption of IFRS and financial reporting of banks in Nigeria and that there is significant relationship between IFRS and banks performance in Nigeria. At degree of freedom 2 and 5% level of significance, the X2table value is 5.99 while the calculated value is 6.380 and the F statistics computed value show a figure of 23.254 which is significant at 5% level of significant which leads to the rejection of the null hypotheses and the acceptance of the alternate hypotheses.
Author: Marenesh Abebe
Publisher: GRIN Verlag
ISBN: 3668651590
Category : Business & Economics
Languages : en
Pages : 78
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Book Description
Thesis (M.A.) from the year 2018 in the subject Business economics - Accounting and Taxes, grade: 2, Addis Ababa University, course: MBA in Finance, language: English, abstract: The study aims to examine the challenges and prospects of International Financial Reporting Standards (IFRS) adoption in Ethiopian Commercial Banks. To answer the research question and to achieve the objective of the study this paper adopted the mixed research approach. The questionnaire data were analyzed using descriptive statistics and data from interview and document review were interpreted qualitatively. The results show that IFRS adoption in Ethiopian Commercial Banks will result in a number of important benefits to a wide range of stakeholders. The study also found out that with the exception of capital market the other five variables namely need of amending legal and regulatory requirement , volatility of financial position and financial performance , difficulty of obtaining source documents and data ,need of updating the existing accounting software, information system and information technology of the bank, shortage of skilled and competent man power , shortage of strong professional bodies are the key challenges of IFRS adoption in Ethiopian Commercial Banks. Finally the study recommended the relevant commercial code, tax proclamation and NBE directive should be amended by Government organs in consultation with strong professional bodies , establishment of strong professional bodies and capital market, allocation of sufficient financial and other resources by top management , introduction of IFRS in colleges and universities and future adopters should think ahead the required source documents and data as well as ensure the extent of changes needed to update the existing IT infrastructure to satisfy IFRS requirements.
