ABSTRACT

The study focused on international financial reporting standards adoption and performance of listed consumer goods firms in Nigeria. In achieving the objectives of the study, ex-post facto research design was adopted. The source of data for this work is secondary data through the use of annual reports and accounts of selected consumer goods firms in Nigeria. The population of the study is made up of all the consumer goods firms listed in Nigeria stock exchange while the sample size of the study is made of ten (10) consumer goods firms listed in Nigeria stock exchange. Data were collected from the selected consumer goods firms. The collected data was based on the pre and post adoption of IFRS ranging from 2004-2011 (Pre Adoption Era) and 2013-2020 (Post Adoption Era); that is 8 years before and 8 years after the adoption of IFRS by the listed consumer goods firms, 2012 being the base year. Data collected were analyzed using T-statistics. The findings revealed that there is a significant mean difference in payable turnover and price earnings ratio of listed consumer goods firms in Nigeria before and after the adoption of IFRS while there is an insignificant mean difference in return on asset, return on equity, receivables and Tobin Q of listed consumer goods firms in Nigeria before and after the adoption of IFRS. The study recommended that consumer goods firms should comply and adhere strictly to IFRS in the preparation of their financial statement in order to increase their return on asset and attract more foreign investors that will boast performance of the companies. The study also recommended that consumer good firms should ensure that the reported earnings are fully disclosed in line with IFRS such that the changes in equity disclosure will be felt.