Impact Of Accounting Information On The Efficiency And Effectiveness Of Corporate Entities In Nigeria (A Study Of Selected Corporate Entities In Aba, Abia State)
ABSTARCT
This research focused on the "IMPACT OF ACCOUNTING
INFORMATION ON THE EFFICIENCY AND EFFECTIVENESS OF CORPORATE ENTITIES" It
used primary and secondary data. The primary data were collected through the
administration of structured questionnaire on the accounting and audit staff of
the selected companies while the secondary data were obtained through the
review of related literature. The data obtained from the field survey were
analyzed in tables with percentage to show the degree of responses. Two
hypotheses were formulated and tested using the normal distribution. The major
findings were that there is significant time lag between the statutory time of
six month for the preparation, audit and tax return and when the companies
studied prepare their financial statements, the guideline for the preparation
of financial statements as stipulated in the Company and Allied Matters Act
1990 and the Statement of Accounting Standards are followed, the preparation of
financial statement affects the effectiveness of companies and the main
motivation for the preparation of financial statement are to provide
information for internal decision making, to meet statutory requirements and to
obtain tax clearance certificates when needed. Based on the findings,
recommendations of, a stipulated penalty for not filing financial statements
both at the ,tax office and Corporate Affairs Commission should he enforced.
This will make companies to produce their financial statements in time for the
users, companies should ensure that all the guidelines for the preparation of
financial statements both by CAMA and statement of Accounting Standards are
followed and Companies should engage qualified accountants who know the
requirements how and when to meet them were made.
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UGOALA, L (2021). Impact Of Accounting Information On The Efficiency And Effectiveness Of Corporate Entities In Nigeria (A Study Of Selected Corporate Entities In Aba, Abia State) . Repository.mouau.edu.ng: Retrieved Nov 26, 2024, from https://repository.mouau.edu.ng/work/view/impact-of-accounting-information-on-the-efficiency-and-effectiveness-of-corporate-entities-in-nigeria-a-study-of-selected-corporate-entities-in-aba-abia-state-7-2
L., UGOALA. "Impact Of Accounting Information On The Efficiency And Effectiveness Of Corporate Entities In Nigeria (A Study Of Selected Corporate Entities In Aba, Abia State) " Repository.mouau.edu.ng. Repository.mouau.edu.ng, 06 Jul. 2021, https://repository.mouau.edu.ng/work/view/impact-of-accounting-information-on-the-efficiency-and-effectiveness-of-corporate-entities-in-nigeria-a-study-of-selected-corporate-entities-in-aba-abia-state-7-2. Accessed 26 Nov. 2024.
L., UGOALA. "Impact Of Accounting Information On The Efficiency And Effectiveness Of Corporate Entities In Nigeria (A Study Of Selected Corporate Entities In Aba, Abia State) ". Repository.mouau.edu.ng, Repository.mouau.edu.ng, 06 Jul. 2021. Web. 26 Nov. 2024. < https://repository.mouau.edu.ng/work/view/impact-of-accounting-information-on-the-efficiency-and-effectiveness-of-corporate-entities-in-nigeria-a-study-of-selected-corporate-entities-in-aba-abia-state-7-2 >.
L., UGOALA. "Impact Of Accounting Information On The Efficiency And Effectiveness Of Corporate Entities In Nigeria (A Study Of Selected Corporate Entities In Aba, Abia State) " Repository.mouau.edu.ng (2021). Accessed 26 Nov. 2024. https://repository.mouau.edu.ng/work/view/impact-of-accounting-information-on-the-efficiency-and-effectiveness-of-corporate-entities-in-nigeria-a-study-of-selected-corporate-entities-in-aba-abia-state-7-2