ABSTRACT

The purpose of the study was to examine the impact of international financial reporting accounting standards adoption on the corporate performance ofselected manufacturingfirms in Nigeria. The specific objectives were to determine the impact ofthe adoption ofInternational 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) ofsome selected manufacturingfirms in Nigeria. The study adopted ex postfacto and survey research design. The data were collected using secondary data. The study used regression analytical technique in the analysis ofdata. Result findings showed that the introduction ofIFRS in the Nigerian economy as an accounting reporting standard and its adoption by companies has led to improved qualityfinancialstatements; and has led decrease in the valuesfor returns on assets in these manufacturing companies. IFRS implementation is indirectly associated with the changes in returns on equity ofselected firmsjudging from the beta coefficient of -14.68 approximately. Also the /-statistics of the coefficient which is -2.40 approximately is statistically significant at 5% implying that the influence ofIFRS implementation on the returns on equity ofthese selectedfirms is considerable enough to warrant statistical conclusion. The study concluded that the adoption ofIFRS in the Nigerian manufacturing sector and other sectors ofthe Nigerian economy has affected the quality offinancial statements significantly. The studyfurther recommended thatfirms ofall 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 ofIFRSs as it has been established in this study that items ofthe financial statements are better reported when these standards are adhered to and the government through its oversight body.