Awareness, challenges and adoption of international financial reporting standard for small and medium enterprises in north central nigeria: implications for financial reporting quality.
Table Of Contents
Chapter ONE
1.1 Introduction1.2 Background of Study
1.3 Problem Statement
1.4 Objective of Study
1.5 Limitation of Study
1.6 Scope of Study
1.7 Significance of Study
1.8 Structure of the Research
1.9 Definition of Terms
Chapter TWO
2.1 Evolution of International Financial Reporting Standards (IFRS)2.2 Adoption of IFRS by Small and Medium Enterprises (SMEs)
2.3 Challenges Faced by SMEs in Implementing IFRS
2.4 Benefits of Adopting IFRS for SMEs
2.5 Impact of IFRS on Financial Reporting Quality
2.6 Comparison of IFRS with Local GAAP for SMEs
2.7 Role of Regulatory Bodies in IFRS Compliance
2.8 Training and Capacity Building for IFRS Implementation
2.9 Case Studies on IFRS Adoption by SMEs
2.10 Future Trends in IFRS for SMEs
Chapter THREE
3.1 Research Design and Approach3.2 Population and Sample Selection
3.3 Data Collection Methods
3.4 Data Analysis Techniques
3.5 Ethical Considerations
3.6 Validity and Reliability of Research
3.7 Limitations of Research Methodology
3.8 Justification of Methodological Choices
Chapter FOUR
4.1 Overview of Research Findings4.2 Analysis of Data on IFRS Adoption by SMEs
4.3 Examination of Challenges Faced by SMEs
4.4 Evaluation of the Impact of IFRS on Financial Reporting Quality
4.5 Comparison of IFRS with Local GAAP Practices
4.6 Regulatory Compliance and Enforcement
4.7 Training and Capacity Building Initiatives
4.8 Insights from Case Studies
Chapter FIVE
5.1 Summary of Research Findings5.2 Conclusion and Recommendations
5.3 Implications for Financial Reporting Quality
5.4 Contribution to Existing Literature
5.5 Future Research Directions
5.6 Practical Applications of Research
5.7 Closing Remarks
Thesis Abstract
Previous studies have paid little attention to the state of International Financial Reporting Standard (IFRS) awareness and adoption in North-Central geo-political zone of Nigeria. This study investigated level of awareness, challenges and adoption of IFRS for Small and Medium Enterprises (SMEs) in North-Central Nigeria with the view of highlighting the implication for financial reporting quality. The outcome variable in the study is financial reporting quality measured by qualitative reporting attributes namely, reliability, comparability and understandability. The explanatory and control variables are IFRS awareness, challenges and adoption, taxation, entity size and ownership structure. From the population of 556 registered SMEs in three randomly selected States in the zone, a sample of 307 SMEs was selected for the study. Data was collected through a self-administered questionnaire. Multiple regression analysis was applied to test the study hypotheses. Results show that the financial reporting practice of SMEs in North-Central Nigeria is not only poor, but also majority of the business entities do not prepare financial reports in line with the guidelines of the IFRS for SMEs.
Result further show that IFRS awareness significantly influences understandability, for instance, a unit increase in the level of IFRS awareness will result in the decline of understandability by a unit of 0.0779 (β1=0.0779, p<0.05) indicating decline in the quality of financial reporting; IFRS challenges significantly influences comparability, for instance, a unit increase in IFRS challenges that is an additional challenges facing the adoption of IFRS will result in the decline of comparability indicating decline in the quality of financial reporting by a unit of 0.1679 (β1=0.1679, p<0.05); and willingness to adopt IFRS significantly influences reliability, that is high quality financial reporting, for instance, increases in the level of willingness to adopt IFRS will lead to higher quality of financial reporting among the SMEs indicating that entities that show willingness to adopt IFRS are willing to prepare their financial statements based on the guidelines of IFRS for SMEs (β 1=1.3327, p<0.001). The study concluded that awareness, challenges and willingness to adopt IFRS are major influence on financial reporting quality among the SMEs.
Thesis Overview
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