Application of Fair value accounting (Problem and Prospect) in Nigeria

ABSTRACT

The determination of the overall growth of most cost depends on how efficient and effective the method of financial reporting is, and in the Nigeria case there are still lots of problems, challenges that have hindered the Nigerian financial reporting standard from attaining international status and these pose a greater challenge to implementation of fair value accounting in Nigerian financial system.

Fair value accounting was a term applied widely in the 1980’s within the context of acquisition as a basis for the allocation of entry values and purchase goodwill, though it encountered difficulties and controversies.

Fair Value Accounting is a financial reporting approach in which companies are required or permitted to measure and report on an ongoing bases, certain assets/liabilities (generally financial instruments) at estimates of the prices they would receive if they were to sell the assets or would pay if they were to be relieved of the liabilities. mso-bidi-font-family:Arial">It primarily applies to financial assets and liabilities but however, three major groups of non-financial assets-property, plant, investment property and intangible assets –also subject to fair value measurement. It should be noted that the idea that is behind this concept is the assumption that providing useful and timely information by preparing the accounts in accordance with a set of high-quality standards does best serve the needs of investors. This might be an important issue especially in the case of fair value accounting and needs to be considered when the implications of fair value accounting for users of accounting information are investigated. It is against this backdrop, that this research study tends to examine the problems and prospect of application of Fair Value Accounting in Nigeria by users of accounting information, accounting procedures, financial statement and foreign investors at large.

TABLE OF CONTENTS

CHAPTER ONE

INTRODUCTION

1.1 Background of Study 5

1.2 Statement of Problem 10

1.3 Objectives of the Study 11

1.4 Research Questions 11

1.5 Research Hypotheses 12

1.6 Significance of Study 13

1.7 Scope & Limitation of Study 14

1.8 Definition of Terms 14

CHAPTER TWO

2.1 CONCEPTUAL FRAMEWORK

2.2 THEORETICAL FRAMEWORK

CHAPTER THREE

RESEARCH METHODOLOGY

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS

CHAPTER FIVE

CONCLUSION, SUMMARY, RECOMMENDATION

REFERENCES

QUESTIONNAIRE

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APA

19jM9Gb5c000dcc64ffc4.39929906, D. (2018). Application of Fair value accounting (Problem and Prospect) in Nigeria. Afribary. Retrieved from https://beta.afribary.com/works/the-roles-of-accounting-firms-in-money-laundering-in-nigeria-case-study-of-accounting-firms-in-nigeria-6676

MLA 8th

19jM9Gb5c000dcc64ffc4.39929906, DX0OZ8w5c000dcc645cd1.80105971 "Application of Fair value accounting (Problem and Prospect) in Nigeria" Afribary. Afribary, 29 Jan. 2018, https://beta.afribary.com/works/the-roles-of-accounting-firms-in-money-laundering-in-nigeria-case-study-of-accounting-firms-in-nigeria-6676. Accessed 24 Apr. 2025.

MLA7

19jM9Gb5c000dcc64ffc4.39929906, DX0OZ8w5c000dcc645cd1.80105971 . "Application of Fair value accounting (Problem and Prospect) in Nigeria". Afribary, Afribary, 29 Jan. 2018. Web. 24 Apr. 2025. < https://beta.afribary.com/works/the-roles-of-accounting-firms-in-money-laundering-in-nigeria-case-study-of-accounting-firms-in-nigeria-6676 >.

Chicago

19jM9Gb5c000dcc64ffc4.39929906, DX0OZ8w5c000dcc645cd1.80105971 . "Application of Fair value accounting (Problem and Prospect) in Nigeria" Afribary (2018). Accessed April 24, 2025. https://beta.afribary.com/works/the-roles-of-accounting-firms-in-money-laundering-in-nigeria-case-study-of-accounting-firms-in-nigeria-6676

Application of Fair value accounting (Problem and Prospect) in Nigeria

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