THE IMPACT OF FINANCIAL ACCOUNTING ON CORPORATE PERFORMANCE OF BUSINESS ORGANIZATIONS IN NIGERIA. A study of Nigerian Breweries plc.


THE IMPACT OF FINANCIAL ACCOUNTING ON CORPORATE PERFORMANCE OF BUSINESS ORGANIZATIONS IN NIGERIA. A study of Nigerian Breweries plc.

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THE IMPACT OF FINANCIAL ACCOUNTING ON CORPORATE PERFORMANCE OF BUSINESS ORGANIZATIONS IN NIGERIA. A study of Nigerian Breweries plc.
ABSTRACT

The  research  work  “The  impact  of  Financial  Accounting  Reporting  on  the

corporate  performance  of  Business  Organizations”,  basically  aims  at

ascertaining  how  financial  accounting  reporting  has  helped  in  advancing

the objectives of corporate organizations. In the process, it investigated the

effected  that  financial  accounting  bear  on  the  performance  of  a  business.

Furthermore,  if  sought  to  ascertain  the  compliance  of  relevant  statues  by

corporate  organizations  and  the  overall  satisfaction  of  stakeholders  in  a

corporate organizations. The study obtained its data basically from primary

and  secondary  sources.  The  primary sources  of  data  collection  employed

were  questionnaire,  oral  interview  and  observations,  while  the  secondary

sources  of  data  included  textbooks,  journals.  in  the  analysis  of  the  data

collected, the chi-square was used to analyze the responses gathered. The

study  revealed  that  a  loot  of  problems  were  inherent  in  financial  reporting

ranging  from  non-disclosure  of  vital  information,  subjective  judgments  of

prepares  of  the  financial  information  and  most  times  non-compliance  to

relevant  statues.  There  were  recommendations  given  such  as  strict

compliance  to  the  relevant  statute  were  made  to  the  companies,  the

government needs to strengthen its regulatory agencies in order to ensure

that the financial statements show a “true and fair view and comply with the

relevant statues at all times.     

 



 



                              TABLE OF CONTENTS



Title page ----------------------------------------------------------------------  ii
                                            6

 

Certification: ----------------------------------------------------------------- -- iii



Dedication: ---------------------------------------------------------------------- iv



Acknowledgment: ------------------------------------------------------------- -v



Abstract: ---------------------------------------------------------------------------vi



Table of contents: --------------------------------------------------------------vii



CHAPTER ONE: INTRODUCTION



1.1 Background of The Study: ---------------------------------------------1


1.2 Statement of The Problem: -------------------------------------------- 3


1.3 Objective of The Study: ------------------------------------------------ -4


1.4 Research Hypotheses: -------------------------------------------------- 6


1.5 Significance of The Study: ----------------------------------------------7


1.6 Scope of The Study : ----------------------------------------------------- 8


1.7 Limitation of The Study: ---------------------------------------------------8


1.8 Definition of Terms: --------------------------------------------------------- 9


1.9 reference: ------------------------------------------ --------------------------10


 


CHAPTER TWO: REVIEW OF RELATED LITERATURE


2.1 Overview of the financial Accounting System: -----------------------11
                                            7

 

2.2 Financial Accounting Records: -------------------------------------------11


2.3  The Subsidiary Books the General Journal (proper) ----------------12


2.4  Source Document: -----------------------------------------------------------17


2.5 The Ledgers: ------------------------------------------------------------------- 19


2.6 Classification of Accounts: ---------------------------------------------------19


2.7 The Trial Balance: --------------------------------------------------------------20


2.8 The Trading Profit and Loss Account: -------------------------------------20


2.9 The Balance Sheet: ------------------------------------------------------------21


2.10 Principles and Assumption Underlying Financial Standards: --------21


2.11 Accounting Standards: --------------------------------------------------------28


2.12 Controversial Issue in Financial Accounting Reporting: --------------31


2.13 Cross Sectional Analysis of Selected Companies in Enugu State: -36


2.14 Brief History of the Companies: ---------------------------------------------36


References: ---------------------------------------------------------------------------- 45


CHAPTER THREE: RESEARCH DESIGN AND METHODOLOGY   


3.1 Research Design: --------------------------------------------------------------47


3.2 Sources of Data: --------------------------------------------------------------- 48


3.3 Method of Data Collection: ---------------------------------------------------50


3.4 Determination of Population Size: -------------------------------------------51


3.5  Determination of Sample Size: -----------------------------------------------51
                                            8

 

3.6 Method of Administration and Questionnaire: -----------------------------52


3.7 Method of Date Analysis: ------------------------------------------------------ 53


3.8 Decision Rule: ---------------------------------------------------------------------54


Reference: --------------------------------------------------------------------------------56


CHAPTER FOUR: DATA PRESENTATION, ANALYSIS AND


INTERPRETATION


4.1 Date Presentation: ---------------------------------------------------------------57


4.2 Data Analysis: -------------------------------------------------------------------- 58


4.3 Hypothesis Testing: -------------------------------------------------------------69


CHAPTER FIVE: SUMMARY OF FINDINGS, CONCLUSION AND


  RECOMMENDATIONS



5.1 Summary of Findings: ---------------------------------------------------------- 84



5.2 Conclusion: ------------------------------------------------------------------------85



5.3 Recommendation: ----------------------------------------------------------------86



 Bibliography:-------------------------------------------------------------------- ---87 



      Appendices: -----------------------------------------------------------------------89



                                    CHAPTER ONE



                                    INTRODUCTION
                                            9

 

Background of the Study 



    The  impact  of  financial  reporting  on  the  corporate  performance  of  a


business  organization  is  becoming  more  apparent  to  user  groups  of  a


financial statement. 



    Accounting  is  a  not  an  exact  science  neither  are  business  operations


without some subjective and judgmental errors when it comes to reporting


them.  A  financial  reporting  therefore  is  a  document  statement which


informs  the  various  interest  groups  to  a  business  on  the  operations  and


performance of their business in a period under review its present state of


affairs as well as its anticipated future, in accordance with the statutes. If a


financial report is to service its purpose it ought to be characterized by the


following.



  a. Relevance 


  b. Understandability 


  c. Reliability


  d. Completeness


  e.   Objectivity


  f. Timeliness
                                            10

 

         In  the  accounting  process  of  an  organization  is  to  provide  the


  information  required  to  prepare  a  financial  report  which  shall  have  the


  above  characteristics  then  the  transaction  doing  the  period  must  be


  recorded prompt by and accurately and interpreted in conformity with the


  Generally  Accepted Accounting  Principles  (GAAP), Statements  of


  Accounting  Standard  Board  (NASB), International  Accounting Standard


  committee and the companies and Allied Matters Act cop LFN (CAMA)



   Financial  accounting  reporting  become  necessary  with  the  obvious


  need  for  accountability  of  stewardship  from  the  managers  to  whom


  investors entrusted their financial resources. The Railway age in the UK.


  Occurred between 1830 to 1870 and for the first time the world same the


  emergence  of  multimillion corporations  with  large  numbers  of


  shareholders. It was a period of disorder but it brought the basis for the


  present day system of corporate financial report. Financial reporting is a


  duty  of  stewardship  assigned  to  the  directors  of  a  company  by  section


  334  of  the  company  and Allied Matters  Act  Cap  L20  LFN,  equally  the


  mandatory  responsibility of  companies  to  keep  accounting  records


  derives  its  strength  from  section  331  and  382  of  the  same  act. These


  sections  explicitly  defined  the  necessary  content  and  manner  in  which


  financial records should be kept.
                                            11

 

1.2  STATEMENT OF THE PROBLEM



 The  study  “The  impact  of  Financial  Reporting  on  the  corporate


performance  of  business  organization”  aims  at  investigating  the  financial


reports of selected companies in Enugu State with a view to determine the


following ;



  a. The extent  to  which  a  standard  financial  report  contributes  to  or

      detracts from the growth of a business organization.

 

  b. The extent  to  which  the  financial  reports  of corporate  business

      organization comply with statutory provisions.

 

  c. The uniformity  and  conflict  which  exist  in  the  financial  reporting

      regulations given the multiplicity of regulators.

 

Therefore, bused on the above statements, the researcher shall investigate


the financial accounting reporting standards and every regulation their bear


on the financial statement and to the extent the selected company (s) has


either complied with or disobeyed the relevant statutes.


THE IMPACT OF FINANCIAL ACCOUNTING ON CORPORATE PERFORMANCE OF BUSINESS ORGANIZATIONS IN NIGERIA. A study of Nigerian Breweries plc.

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The research work “The impact of Financial Accounting Reporting on the corporate performance of Business Organizations”, basically aims at ascertaining how financial accounting reporting has helped in advancing the objectives of corporate organizations... accounting project topics

THE IMPACT OF FINANCIAL ACCOUNTING ON CORPORATE PERFORMANCE OF BUSINESS ORGANIZATIONS IN NIGERIA. A study of Nigerian Breweries plc.

Project Information

  • CATEGORY : ACCOUNTING
  • TYPE : PROJECT MATERIAL
  • FORMAT : MICROSOFT WORD
  • ATTRIBUTE : Documentation Only
  • PAGES : 195 Pages
  • CHAPTERS : 1 - 5
  • PRICE : ₦ 3,000.00

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