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.
PRINCEWILL, C (2024). Impact of international financial reporting standards adoption on corporate performance of selected manufacturing firms in Nigeria:- Uchechukwu Princewill C. Repository.mouau.edu.ng: Retrieved Nov 23, 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-uchechukwu-princewill-c-7-2
C, PRINCEWILL. "Impact of international financial reporting standards adoption on corporate performance of selected manufacturing firms in Nigeria:- Uchechukwu Princewill C" Repository.mouau.edu.ng. Repository.mouau.edu.ng, 09 Jul. 2024, https://repository.mouau.edu.ng/work/view/impact-of-international-financial-reporting-standards-adoption-on-corporate-performance-of-selected-manufacturing-firms-in-nigeria-uchechukwu-princewill-c-7-2. Accessed 23 Nov. 2024.
C, PRINCEWILL. "Impact of international financial reporting standards adoption on corporate performance of selected manufacturing firms in Nigeria:- Uchechukwu Princewill C". Repository.mouau.edu.ng, Repository.mouau.edu.ng, 09 Jul. 2024. Web. 23 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-uchechukwu-princewill-c-7-2 >.
C, PRINCEWILL. "Impact of international financial reporting standards adoption on corporate performance of selected manufacturing firms in Nigeria:- Uchechukwu Princewill C" Repository.mouau.edu.ng (2024). Accessed 23 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-uchechukwu-princewill-c-7-2