The Effect of IFRS Adoption on Corporate Profitability in Nigeria
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Background of the Study
International Financial Reporting Standards (IFRS) have been adopted globally to enhance transparency, comparability, and reliability in financial reporting. In Nigeria, IFRS adoption has been mandatory for listed companies since 2012, with expectations of improving corporate governance and financial performance. Corporate profitability is a key indicator of a firm's financial health, and the transition to IFRS may have significant implications for how profitability is reported and analyzed.
Statement of the Problem
Despite the expected benefits of IFRS adoption, the direct impact on corporate profitability remains unclear. Nigerian firms face challenges such as compliance costs, changes in financial reporting requirements, and discrepancies between local accounting practices and IFRS. This study seeks to explore how IFRS adoption affects corporate profitability in Nigeria and identify factors influencing this relationship.
Aim and Objectives of the Study
Aim:
To investigate the effect of IFRS adoption on corporate profitability in Nigeria.
Objectives:
To assess changes in profitability metrics before and after IFRS adoption in Nigerian firms.
To identify specific IFRS standards that influence profitability reporting.
To analyze the challenges faced by Nigerian firms in achieving profitability under IFRS.
Research Questions
What changes have occurred in profitability metrics following IFRS adoption in Nigerian firms?
Which IFRS standards have the most significant impact on profitability reporting?
What challenges do Nigerian firms face in maintaining profitability under IFRS?
Research Hypotheses
IFRS adoption has a significant impact on corporate profitability in Nigeria.
Specific IFRS standards influence profitability reporting in Nigerian firms.
Compliance challenges under IFRS negatively affect corporate profitability.
Significance of the Study
This study will provide insights into the relationship between IFRS adoption and corporate profitability, aiding stakeholders in understanding the financial implications of the transition.
Scope and Limitation of the Study
The study focuses on listed Nigerian firms that have adopted IFRS. Limitations may include variability in data quality and the influence of external factors on profitability.
Definition of Terms
IFRS: International accounting standards for improving transparency and comparability.
Corporate Profitability: A firm’s ability to generate income relative to its expenses.
Compliance Costs: Expenses incurred in adhering to regulatory requirements.
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