ABSTRACT
This study titled
"Impact of Inflation on financial statement of manufacturing firm (A study
of Guinness Plc) is aimed at achieving the following objectives; calculating
inflation adjusted values of the components of Guinness Plc balance sheet,
Access whether there is significant difference between historical cost and
inflation adjusted values of Guinness Pie balance sheet components, calculate
the impact of inflation on valuation of assets in the balance sheet, findings
out if financial statements prepared using historical cost accounting
convention reflect true state of affairs of the business, Determine whether
profits declared during inflationary period aic accurate, Access the effect of
inflation on capital invested in manufacturing firms. In other to successfully
accomplish these objectives, the following research questions were drawn; Does
inflation affect capital invested in manufacturing firms? Does financial
statements prepared using historical cost accounting convention reflect true
state of affairs of the business? Do profits declared during inflationary
period accurate? Does inflationary trend have effect on the preparation and
presentation of financial statements? The population of this study consists of
forty staff of Guinness Plc which is the study area. data were collected mainly
from primary sources. The method of data analysis is t-test, descriptive i.e.
use of mean, frequency count, standard deviation. The findings include; reveals
that inflation does not affect capital invested in manufacturing finns,
frequency count rating on how financial statement prepared using historical
cost accounting convention reflect true state of affairs of the business,
frequency count rating of profit been declared during inflationary periods
accurate, and inflationary trend effect on the preparation and presentation of
financial statement.
EKWE, C (2021). Impact Of Inflation On Financial Statement Of Manufacturing Firm: A Study Of Guinness Plc. Mouau.afribary.org: Retrieved Oct 31, 2024, from https://repository.mouau.edu.ng/work/view/impact-of-inflation-on-financial-statement-of-manufacturing-firm-a-study-of-guinness-plc-7-2
C, EKWE. "Impact Of Inflation On Financial Statement Of Manufacturing Firm: A Study Of Guinness Plc" Mouau.afribary.org. Mouau.afribary.org, 03 Dec. 2021, https://repository.mouau.edu.ng/work/view/impact-of-inflation-on-financial-statement-of-manufacturing-firm-a-study-of-guinness-plc-7-2. Accessed 31 Oct. 2024.
C, EKWE. "Impact Of Inflation On Financial Statement Of Manufacturing Firm: A Study Of Guinness Plc". Mouau.afribary.org, Mouau.afribary.org, 03 Dec. 2021. Web. 31 Oct. 2024. < https://repository.mouau.edu.ng/work/view/impact-of-inflation-on-financial-statement-of-manufacturing-firm-a-study-of-guinness-plc-7-2 >.
C, EKWE. "Impact Of Inflation On Financial Statement Of Manufacturing Firm: A Study Of Guinness Plc" Mouau.afribary.org (2021). Accessed 31 Oct. 2024. https://repository.mouau.edu.ng/work/view/impact-of-inflation-on-financial-statement-of-manufacturing-firm-a-study-of-guinness-plc-7-2