The value relevance of accounting disclosures among Nigerian financial institutions after the IFRS adoption
This paper discusses about the adoption of International Financial Reporting Standards (IFRS) by the Nigerian financial institutions.Nigeria have been using domestic accounting standard (NGAAP) for banks and non-banks financial institutions known as Statement of Accounting Standards (SAS 10 Part 1 a...
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my.uum.repo.161542016-04-17T00:36:24Z http://repo.uum.edu.my/16154/ The value relevance of accounting disclosures among Nigerian financial institutions after the IFRS adoption Mohammed, Yusuf Alkali Lode, Nor Asma HF5601 Accounting This paper discusses about the adoption of International Financial Reporting Standards (IFRS) by the Nigerian financial institutions.Nigeria have been using domestic accounting standard (NGAAP) for banks and non-banks financial institutions known as Statement of Accounting Standards (SAS 10 Part 1 and SAS 15 Part 2) issued in 1990 and 1997 respectively for financial reporting.These domestic standards were adopted from International Accounting Standards (IAS 30) but have not been updated like IAS 30 as reported by the Report on Observance of Standard Codes (ROSC) of Nigeria in 2004 and 2011. The change in accounting regulations is as a result of the weaknesses of NGAAP and low disclosure requirements.IFRS reporting has more disclosures than NGAAP especially for financial institutions. Under NGAAP financial instruments have not been classified as in IFRS.For instance, financial instruments have been classified into four under IAS 39 as; (i) recognised fair value on gain or loss in profit or loss, (ii) are measured at amortised cost for investments held-to-maturity, (iii) measured at amortised cost for loans and receivables, (iv) measured at fair value gain or loss for available-for-sale financial assets recognised in other comprehensive income. Additionally, financial liabilities have been categories into two namely; (i) measured at amortised fair value on financial liabilities through profit or loss and, (ii) measured at amortised other liabilities.Now with the mandatory adoptions of reporting under IFRS by all listed financial institutions, will the accounting disclosures be more value relevant among Nigerian financial institutions? Mediterranean Center of Social and Educational Research 2015 Article PeerReviewed application/pdf en cc_by http://repo.uum.edu.my/16154/1/62.pdf Mohammed, Yusuf Alkali and Lode, Nor Asma (2015) The value relevance of accounting disclosures among Nigerian financial institutions after the IFRS adoption. Mediterranean Journal of Social Sciences, 6 (1). pp. 409-419. ISSN 2039-9340 http://doi.org/10.5901/mjss.2015.v6n1p409 doi:10.5901/mjss.2015.v6n1p409 |
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HF5601 Accounting Mohammed, Yusuf Alkali Lode, Nor Asma The value relevance of accounting disclosures among Nigerian financial institutions after the IFRS adoption |
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This paper discusses about the adoption of International Financial Reporting Standards (IFRS) by the Nigerian financial institutions.Nigeria have been using domestic accounting standard (NGAAP) for banks and non-banks financial institutions known as Statement of Accounting Standards (SAS 10 Part 1 and SAS 15 Part 2) issued in 1990 and 1997 respectively for financial reporting.These domestic standards were adopted from International Accounting Standards (IAS 30) but have not been updated like IAS 30 as reported by the Report on Observance of Standard Codes (ROSC) of Nigeria in 2004 and 2011. The change in accounting regulations is as a result of the weaknesses of NGAAP and low disclosure requirements.IFRS reporting has more disclosures than NGAAP especially for financial institutions. Under NGAAP financial instruments have not been classified as in IFRS.For instance, financial instruments have been classified into four under IAS 39 as; (i) recognised fair value on gain or loss in profit or loss, (ii) are measured at amortised cost for investments held-to-maturity, (iii) measured at amortised cost for loans and receivables, (iv) measured at fair value gain or loss for available-for-sale financial assets recognised in other comprehensive income. Additionally, financial liabilities have been categories into two namely; (i) measured at amortised fair value on financial liabilities through profit or loss and, (ii) measured at amortised other liabilities.Now with the mandatory adoptions of reporting under IFRS by all listed financial institutions, will the accounting disclosures be more value relevant among Nigerian financial institutions? |
format |
Article |
author |
Mohammed, Yusuf Alkali Lode, Nor Asma |
author_facet |
Mohammed, Yusuf Alkali Lode, Nor Asma |
author_sort |
Mohammed, Yusuf Alkali |
title |
The value relevance of accounting disclosures among Nigerian financial institutions after the IFRS adoption |
title_short |
The value relevance of accounting disclosures among Nigerian financial institutions after the IFRS adoption |
title_full |
The value relevance of accounting disclosures among Nigerian financial institutions after the IFRS adoption |
title_fullStr |
The value relevance of accounting disclosures among Nigerian financial institutions after the IFRS adoption |
title_full_unstemmed |
The value relevance of accounting disclosures among Nigerian financial institutions after the IFRS adoption |
title_sort |
value relevance of accounting disclosures among nigerian financial institutions after the ifrs adoption |
publisher |
Mediterranean Center of Social and Educational Research |
publishDate |
2015 |
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http://repo.uum.edu.my/16154/1/62.pdf http://repo.uum.edu.my/16154/ http://doi.org/10.5901/mjss.2015.v6n1p409 |
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