Background of the Study
The accounting profession is integral to the economic development of any country. In Nigeria, the adoption of International Financial Reporting Standards (IFRS) has influenced how accounting professionals are perceived, especially among students considering accounting as a career path. IFRS represents a shift toward global standards, and its adoption in Nigeria has made it increasingly essential for accounting students to understand and apply these standards in their future careers.
This study aims to explore how IFRS has affected the perception of the accounting profession among Nigerian students, particularly those studying accounting and finance at the university level. Understanding how students perceive IFRS and the accounting profession is crucial, as it will inform educational strategies and career counseling initiatives within Nigerian institutions.
Statement of the Problem
Despite the significant role IFRS plays in shaping the accounting profession, there is limited research on how it influences the perceptions of students studying accounting in Nigeria. This study addresses this gap by exploring the impact of IFRS on students' views of the accounting profession and their career aspirations.
Aim and Objectives of the Study
1. To analyze how IFRS adoption has affected Nigerian students' perceptions of the accounting profession.
2. To examine the role of IFRS in shaping students' career choices within the accounting field.
3. To assess the level of awareness and understanding of IFRS among accounting students in Nigerian universities.
Research Questions
1. How has IFRS adoption influenced Nigerian students’ perceptions of the accounting profession?
2. What role does IFRS play in shaping students' career choices in accounting?
3. How aware are Nigerian accounting students of IFRS and its significance in their future careers?
Research Hypotheses
1. H₀: IFRS adoption does not significantly affect Nigerian students' perceptions of the accounting profession.
2. H₀: IFRS adoption does not influence Nigerian students' career choices within the accounting profession.
3. H₀: Nigerian accounting students do not have significant awareness or understanding of IFRS.
Significance of the Study
This study will provide valuable insights into how IFRS adoption influences the next generation of accountants in Nigeria, helping educators, policymakers, and professional bodies understand the key factors shaping students' career decisions and their preparedness for the evolving global accounting landscape.
Scope and Limitation of the Study
The study focuses on Nigerian students studying accounting at the university level. Limitations include the potential bias in students’ perceptions and the challenges in measuring awareness and understanding of IFRS accurately.
Definition of Terms
• IFRS Adoption: The process of implementing International Financial Reporting Standards in financial reporting.
• Accounting Profession Perception: The way in which students view the accounting profession, including its roles, career opportunities, and future prospects.
• Career Choices: The decisions made by students regarding the type of work they intend to pursue within the accounting profession.
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