The Impact of Financial Accounting on Business Performance of Organizations in Nigeria (A Study of Nigeria Breweries Plc).
ABSTRACT
The research work the Impact of Financial Accounting on the Business Performance of Organizations basically aims at ascertaining how financial accounting information or report has helped in advancing the objectives of organizations.
In the process, it investigated the effect that financial accounting bear on the performance of a business. Furthermore, it sought to ascertain the compliance of relevant status by organizations and the overall satisfaction of stakeholders in organizations.
The study obtained its data basically from primary and secondary sources. The primary sources of data collection 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 lot of problems were inherent in financial reporting ranging from non-disclosure of vital information and most times noncompliance relevant with accounting standards.
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 of all times.
TABLE OF CONTENTS
Title Page………………i
Declaration…………….ii
Certification ……………..iii
Dedication…………..iv
Acknowledgements……..v
Abstract ……………….vi
Table of Contents…..vii
List of Tables………….x
CHAPTER ONE: INTRODUCTION
1.0 Introduction………………1
1.1 Background to the study……2
1.2 Statement of the problem……..3
1.3 Objectives of the study…………………3
1.4 Research questions…………4
1.5 Statement of the hypothesis……..4
1.6 Significance of the study………..4
1.7 Justification of the study………..6
1.8 Scope of the study………6
1.9 Definitions of terms ………6
CHAPTER TWO: LITERATURE REVIEW
2.0 Introduction………8
2.1 Conceptual frame work………9
2.2 Theoretical frame work……….13
2.3 Literature on subject matter…………..14
2.4 Empirical framework….……18
CHAPTER THREE: RESEARCH METHODOLOGY
3.0 Area of study………..28
3.1 Research design and sources of data……..28
3.2 Study population and determination of sample size………..30
3.3 Instrumentation………………..31
3.4 Procedure for data collection and data analysis…….32
3.5 Limitations of the study…………….33
CHAPTER FOUR: DATA ANALYSIS, FINDINGS AND DISCUSSION
4.0 Introduction…………..34
4.1 Findings of the study……….34
4.2 Data Analysis……………35
4.3 Hypothesis Testing……49
4.4 Discussion of the findings…………56
CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS
5.0 Summary of findings……57
5.1 Conclusion..………….57
5.2 Recommendations..…………………..58
5.3 Proposal for further studies……59
References…………..60
Appendix……………61
INTRODUCTION
In recent time, financial accounting on business performance of organization has been increasing due to increase in need and desire of people. This increase is also attributable to the present economic situation in the country, which prevent people from going into large-scale business.
Financial accounting is the field of accounting is concerned with the summary, analysis and reporting of financial transactions and interpretation, and recording etc. pertaining to a business. This involves the preparation of financial statements available for public consumption.
Stockholders, suppliers, banks, employees, government agencies, business owners, and other stakeholders are examples of people interested in receiving such information for decision making purposes.
Financial statement are prepared detailing information about the business operations since there are many users of accounting information such as Government, Bankers, Auditors,
Other organisations, individual stock holders and many stakeholders, it becomes imperative to render such financial statement in order to assist those who are not accountants. So many stakeholders use accounting information to make decisions whether to buy shares or sell them.
The above provides useful guide if such financial statements are decoded for understand ability and decision making.
Financial accountancy is governed by both local and international accounting standards. Generally Accepted Accounting Principles (GAAP) is the standard framework of guidelines for financial accounting used in any given jurisdiction. It includes the standards, conventions and rules that accountants follow in the preparation of financial statements.
REFERENCES
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