ABSTRACT
The increasing volume of cross
border capital flows and the growing number of foreign direct investments via
mergers and acquisitions in the globalization era necessitated the need for the
harmonization of different practices in accounting and the acceptance of
worldwide standards. This worldwide standard is International financial reporting
standards (IFRS). For the purpose of this study the researcher sought to
determine the effect if the adoption of international financial reporting
standards (IFRS) on the performance of firms in Nigeria. The main objective of
the study was to know the effect if the adoption of international financial
reporting standards (IFRS) on the performance of firms in Nigeria. The study
adopted primary and secondary data method of data collection and the researcher
employed the Paired sample T- test and simple regression method of data
analysis to estimate the relationship of the variables. The researcher
administered a survey questionnaire to each member of the target population
since it was the most appropriate tool to gather the information and also some
ratios were calculated from the published annual report of UBA. Descriptive
statistics such as frequency distribution were used in the analysis of data.
Data presentation was done by the use of tables for easy understanding and
interpretation. In view of the above, the study therefore recommends that there
should be consistency in the application of IFRS in their financial
preparations. Thus, the variations that could emanate from the preparation of
Financial statement as a result of diverse standards used should be curb and
hence, stands to the taste (satisfaction) of the external users especially,
potential investors and shareholders of financial Institutions (UBA).
Furthermore, from our findings, internal factors that affect the adoption of
IFRS in UBA were exposed and proper attention and orientation should be
rendered to those factors enlisted above so as to embrace the understanding and
harmonization of diverse standards as embraced by adoption and implementation
IFRS.
NGWOBIA, U (2021). Effect Of The Adoption Of International Financial Reporting Standards (IFRS) On The Performance Of Firms (A Study Of Uba). Mouau.afribary.org: Retrieved Nov 01, 2024, from https://repository.mouau.edu.ng/work/view/effect-of-the-adoption-of-international-financial-reporting-standards-ifrs-on-the-performance-of-firms-a-study-of-uba-7-2
U, NGWOBIA. "Effect Of The Adoption Of International Financial Reporting Standards (IFRS) On The Performance Of Firms (A Study Of Uba)" Mouau.afribary.org. Mouau.afribary.org, 18 Aug. 2021, https://repository.mouau.edu.ng/work/view/effect-of-the-adoption-of-international-financial-reporting-standards-ifrs-on-the-performance-of-firms-a-study-of-uba-7-2. Accessed 01 Nov. 2024.
U, NGWOBIA. "Effect Of The Adoption Of International Financial Reporting Standards (IFRS) On The Performance Of Firms (A Study Of Uba)". Mouau.afribary.org, Mouau.afribary.org, 18 Aug. 2021. Web. 01 Nov. 2024. < https://repository.mouau.edu.ng/work/view/effect-of-the-adoption-of-international-financial-reporting-standards-ifrs-on-the-performance-of-firms-a-study-of-uba-7-2 >.
U, NGWOBIA. "Effect Of The Adoption Of International Financial Reporting Standards (IFRS) On The Performance Of Firms (A Study Of Uba)" Mouau.afribary.org (2021). Accessed 01 Nov. 2024. https://repository.mouau.edu.ng/work/view/effect-of-the-adoption-of-international-financial-reporting-standards-ifrs-on-the-performance-of-firms-a-study-of-uba-7-2