ABSTRACT
The purpose of the study was to examine the impact of
international financial reporting accounting standards adoption on the
corporate performance of selected manufacturing firms in Nigeria. The specific
objectives were to determine the impact of the adoption of International
Financial Reporting Accounting Standard on the Returns of Assets (ROA) of
selected manufacturing firms in Nigeria and determine the impact of adoption of
International Financial Reporting Accounting Standard on the Returns on Equity
(ROE) of some selected manufacturing firms in Nigeria. The study adopted ex
post facto and survey research design. The data were collected using secondary
data. The study used regression analytical technique in the analysis of data.
Result findings showed that the introduction of IFRS in the Nigerian economy as
an accounting reporting standard and its adoption by companies has led to
improved quality financial statements; and has led decrease in the values for
returns on assets in these manufacturing companies. IFRS implementation is
indirectly associated with the changes in returns on equity of selected firms
judging from the beta coefficient of -14.68 approximately. Also the
t-statistics of the coefficient which is -2.40 approximately is statistically
significant at 5% implying that the influence of IFRS implementation on the
returns on equity of these selected firms is considerable enough to warrant
statistical conclusion. The study concluded that the adoption of IFRS in the
Nigerian manufacturing sector and other sectors of the Nigerian economy has
affected the quality of financial statements significantly. The study further
recommended that firms of all sizes should endeavor to voluntarily study,
introduce and adopt all the requirements of the International Accounting
Standards Board (IASB) as contained in the various issues of IFRSs as it has
been established in this study that items of the financial statements are
better reported when these standards are adhered to and the government through
its oversight body.
UCHECHUKWU, C (2021). Impact Of International Financial Reporting Standards Adoption On Corporate Performance Of Selected Manufacturing Firms In Nigeria. Mouau.afribary.org: Retrieved Nov 01, 2024, from https://repository.mouau.edu.ng/work/view/impact-of-international-financial-reporting-standards-adoption-on-corporate-performance-of-selected-manufacturing-firms-in-nigeria-7-2
C, UCHECHUKWU. "Impact Of International Financial Reporting Standards Adoption On Corporate Performance Of Selected Manufacturing Firms In Nigeria" Mouau.afribary.org. Mouau.afribary.org, 17 Aug. 2021, https://repository.mouau.edu.ng/work/view/impact-of-international-financial-reporting-standards-adoption-on-corporate-performance-of-selected-manufacturing-firms-in-nigeria-7-2. Accessed 01 Nov. 2024.
C, UCHECHUKWU. "Impact Of International Financial Reporting Standards Adoption On Corporate Performance Of Selected Manufacturing Firms In Nigeria". Mouau.afribary.org, Mouau.afribary.org, 17 Aug. 2021. Web. 01 Nov. 2024. < https://repository.mouau.edu.ng/work/view/impact-of-international-financial-reporting-standards-adoption-on-corporate-performance-of-selected-manufacturing-firms-in-nigeria-7-2 >.
C, UCHECHUKWU. "Impact Of International Financial Reporting Standards Adoption On Corporate Performance Of Selected Manufacturing Firms In Nigeria" Mouau.afribary.org (2021). Accessed 01 Nov. 2024. https://repository.mouau.edu.ng/work/view/impact-of-international-financial-reporting-standards-adoption-on-corporate-performance-of-selected-manufacturing-firms-in-nigeria-7-2