IMPACT OF IFRS ON THE FINANCIAL STATEMENTS FIGURES AND KEY FINANCIAL RATIOS OF NIGERIAN BANKS

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dc.contributor.authorYAHAYA, K. A.
dc.contributor.authorFAGBEMI, T. O
dc.contributor.authorOYENIYI, K. K
dc.contributor.authorONILE, O. O
dc.contributor.authorBABANSULAIMAN, A
dc.date.accessioned2018-06-20T11:07:18Z
dc.date.available2018-06-20T11:07:18Z
dc.date.issued2015-07
dc.description.abstractInternational Financial Reporting Standards has become the new dominant set of accounting standards; however, the transition to the new was fairly disruptive for users of financial statements. Comparability and trend analyses was impaired as the differences between IFRS and local generally accepted accounting principles (GAAP) impact figures presented in financial statements and lead to variances in financial ratios computed under the two regimes. This study examines the impact of IFRS adoption in Nigeria on financial statement figures and key financial ratios of Nigeria Banks that adopted IFRS. The study likewise seeks to identify the sources of differences in financial reporting experienced by Banks due to the changes in the regime. A number of recommendations are provided based on the findings of this study. Those involved in the analysis of financial statements are advised to accord attention to the trend analysis when comparing pre-adoption data under NGAAP with postadoption data in IFRS. The comparison of financial ratios under both NGAAP and IFRS for the comparative year prior to IFRS adoption may be seen as a prudent first step prior to undertaking a trend analysis of a particular company. It may also be prudent to rely on cash flows to avoid the subjectivity inherent to accounting adjustments. Being aware of the higher volatility of accounting figures under IFRS and understanding the main categories of adjustments affecting accounting figures and ratios in IFRS may likewise be important.en_US
dc.identifier.issn2220-6043
dc.identifier.urihttp://joc.hoc.edu.pk/issue.php?id=26#al
dc.identifier.urihttp://hdl.handle.net/123456789/622
dc.language.isoenen_US
dc.publisherThe Journal of Commerce, Hailey College of Commerce, University of the Punjab, Lahore, Pakistanen_US
dc.relation.ispartofseries7;3
dc.subjectFinancial Ratioen_US
dc.subjectFinancial Statementen_US
dc.subjectIFRSen_US
dc.titleIMPACT OF IFRS ON THE FINANCIAL STATEMENTS FIGURES AND KEY FINANCIAL RATIOS OF NIGERIAN BANKSen_US
dc.typeArticleen_US

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