Background of the Study
International Financial Reporting Standards (IFRS) are globally recognized accounting standards designed to ensure transparency, consistency, and comparability in financial reporting. The adoption of IFRS in Nigeria has been linked to improved financial transparency and investor confidence. This study will evaluate the impact of IFRS adoption on the financial performance of businesses in Sabon Gari LGA, focusing on the effects on profitability, financial stability, and business operations.
Statement of the Problem
Despite the widespread adoption of IFRS in Nigeria, many businesses in Sabon Gari LGA may still face challenges in aligning with the standards due to limited resources, lack of understanding, or resistance to change. This study seeks to determine whether IFRS adoption has had a measurable impact on the financial performance of businesses in Sabon Gari LGA.
Aim and Objectives of the Study
The aim of this study is to evaluate the impact of IFRS adoption on the financial performance of businesses in Sabon Gari LGA. The specific objectives include:
Research Questions
Research Hypotheses
Significance of the Study
This study will provide valuable insights into the relationship between IFRS adoption and business performance, helping local businesses, accountants, and policymakers understand the potential benefits and challenges of IFRS implementation in the region.
Scope and Limitation of the Study
The study will focus on businesses in Sabon Gari LGA that have adopted IFRS. Limitations may include limited access to financial data from private businesses and resistance to disclosing information.
Definition of Terms
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