Quantitative Analysis of the Relationship Between IFRS and Deferred Tax Liabilities in Nigeria
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Background of the Study
Deferred tax liabilities arise when there is a difference between the accounting treatment and the tax treatment of income and expenses. With the adoption of International Financial Reporting Standards (IFRS), companies are required to recognize deferred tax liabilities and assets more rigorously, which could have significant implications for their financial statements. This is particularly relevant in countries like Nigeria, where tax regulations and accounting rules differ. The introduction of IFRS in Nigeria presents an opportunity to investigate how these standards have influenced the recognition, measurement, and reporting of deferred tax liabilities. A quantitative analysis of this relationship is essential to understanding whether IFRS adoption has led to an increase in deferred tax liabilities for Nigerian firms.
Statement of the Problem
The adoption of IFRS has led to significant changes in the way deferred tax liabilities are recognized and reported. In Nigeria, where companies have transitioned from local accounting standards to IFRS, it is unclear whether this shift has resulted in an increase in deferred tax liabilities. Given the complexity of IFRS rules concerning deferred taxes, it is crucial to understand the quantitative relationship between IFRS adoption and the reporting of deferred tax liabilities in Nigerian companies.
Aim and Objectives of the Study
Aim:
To quantitatively analyze the relationship between IFRS adoption and deferred tax liabilities in Nigeria.
Objectives:
To assess the impact of IFRS adoption on the recognition of deferred tax liabilities by Nigerian firms.
To examine the relationship between IFRS adoption and the measurement of deferred tax liabilities in Nigeria.
To investigate the effect of IFRS on the overall tax position of Nigerian companies in terms of deferred tax liabilities.
Research Questions
How has IFRS adoption affected the recognition of deferred tax liabilities by Nigerian firms?
What is the relationship between IFRS adoption and the measurement of deferred tax liabilities in Nigeria?
How has IFRS adoption influenced the overall tax position of Nigerian companies in terms of deferred tax liabilities?
Research Hypotheses
IFRS adoption has led to an increase in the recognition of deferred tax liabilities in Nigerian firms.
There is a positive relationship between IFRS adoption and the measurement of deferred tax liabilities in Nigeria.
IFRS adoption has had a significant effect on the overall tax position of Nigerian companies, particularly in terms of deferred tax liabilities.
Significance of the Study
This study will provide valuable insights into the relationship between IFRS adoption and deferred tax liabilities in Nigeria. Understanding this relationship will help policymakers, tax authorities, and businesses better navigate the challenges associated with tax reporting under IFRS.
Scope and Limitation of the Study
The study will focus on Nigerian firms that have adopted IFRS and assess their deferred tax liabilities. Limitations may include challenges in obtaining financial data for analysis and the complexity of deferred tax reporting.
Definition of Terms
Deferred Tax Liabilities: Taxes that are owed but have not yet been paid, arising from differences in accounting and tax treatments.
IFRS Adoption: The process of switching from local accounting standards to the International Financial Reporting Standards for financial reporting.
Tax Position: The overall tax obligation of a company, considering both current tax liabilities and deferred tax assets and liabilities.
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