THE CHALLENGES OF ACCOUNTING FOR FINANCIAL INSTRUMENTS IN PUBLIC ACCOUNTING
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- 1-5 Chapters
- Quantitative
- Simple Percentage
- Abstract : Available
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- Recommended for : Student Researchers
- NGN 3000
THE CHALLENGES OF ACCOUNTING FOR FINANCIAL INSTRUMENTS IN PUBLIC ACCOUNTING
The study's objectives are to: 1) Identify the challenges faced by public accountants in accounting for financial instruments, 2) Evaluate the effectiveness of current methodologies in addressing these challenges, and 3) Propose solutions to improve accuracy and compliance. The research utilizes a survey design to gather quantitative data from a broad sample of public accountants. The sample size is set at 330, calculated using Taro Yamane’s formula, providing a 95% confidence level and a 5% margin of error. Lagos is selected as the case study due to its significant financial market activities. The survey's reliability coefficient score is 0.87, indicating high reliability. Findings indicate that the primary challenges include valuation complexities, compliance with evolving standards, and risk assessment. Effective methodologies identified include the use of advanced financial modeling tools and continuous professional development. The study recommends regular training programs and the adoption of standardized valuation techniques to enhance accuracy and compliance in accounting for financial instruments.
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