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IFRS Adoption And Performance Of Quoted Consumer Goods Manufacturing Companies In Nigeria

Authors: ALU Chituru

Publication Type: Journal article

Journal: Archives Of Business Research

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Abstract

Globalization has strengthened the need for the world-wide harmonization of
accounting and financial reporting standards for the benefit of users and preparers of
the financial reports. This study seeks to investigate the Adoption of International
Financial Reporting Standards (IFRSs)by Nigerian Quoted Consumer goods
Manufacturing Companies with the view of establishing empirically, the
appropriateness or otherwise of the adoption in relation to the performance of the
companies.. An ex-post-facto research design was adopted for the study. Secondary
data were obtained from the audited annual financial reports of ten (10) of such
manufacturing companies purposively selected from the population of manufacturing
companies listed on the Nigerian stock exchange for a period of five (5) years (2010-
2014). The data analysis was done using the pooled OLS estimator through the aid of
Stata software version 11. The findings show that there is no significant relationship
between the adoption of IFRS and performance of manufacturing firms listed on the
Nigerian Stock Exchange. However, the findings of this study might have been affected
by the choice of accounting policies of the companies under investigation and some
environmental factors such as the economic, socio-cultural, political and legal factors.
Hence, one can therefore assert that, although the adoption of IFRS is not significantly
related to the performance of Nigerian Quoted Consumer goods Manufacturing
Companies, extant literature established that adoption of IFRS is worthwhile in view of
the fact that it enhances better accountability, comparability, transparency and as well,
improves the quality of financial reporting, however, IFRS is not an end in itself but a
means to an end.

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ALU,C. . (0000). IFRS Adoption And Performance Of Quoted Consumer Goods Manufacturing Companies In Nigeria, 5 (), 128-128.

ALU,C. . "IFRS Adoption And Performance Of Quoted Consumer Goods Manufacturing Companies In Nigeria" 5, no (), (0000): 128-128.

ALU,C. and . (0000). IFRS Adoption And Performance Of Quoted Consumer Goods Manufacturing Companies In Nigeria, 5 (), pp128-128.

ALUC, . IFRS Adoption And Performance Of Quoted Consumer Goods Manufacturing Companies In Nigeria. 0000, 5 ():128-128.

ALU,Chituru , . "IFRS Adoption And Performance Of Quoted Consumer Goods Manufacturing Companies In Nigeria", 5 . (0000) : 128-128.

A.Chituru , "IFRS Adoption And Performance Of Quoted Consumer Goods Manufacturing Companies In Nigeria" vol.5, no., pp. 128-128, 0000.

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