THE PERCEPTION OF FINANCIAL STATEMENT ANALYSIS AMONG PUBLIC ACCOUNTING PROFESSIONALS
The objectives of this study are to: 1) Investigate public accounting professionals' perceptions of the importance and utility of financial statement analysis, 2) Identify factors influencing the effectiveness of financial statement analysis, and 3) Propose enhancements to improve its accuracy and relevance. The research design is a survey, selected for its ability to collect detailed quantitative data from a broad range of accounting professionals. The sample size is set at 340, derived using Taro Yamane’s formula, ensuring a 95% confidence level and a 5% margin of error. Lagos is chosen as the case study location due to its significant financial activities and concentration of accounting firms. The reliability coefficient score for the survey is 0.87, indicating high reliability. Findings indicate that financial statement analysis is highly valued for its role in decision-making, although challenges such as data quality and interpretation complexities affect its effectiveness. The study recommends regular training in financial analysis techniques, improving data quality, and integrating advanced analytical tools to enhance the utility and accuracy of financial statement analysis.
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