THE IMPACT OF INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARD (IPSAS) IN NIGERIA PUBLIC SERVICE (A CASE STUDY OF LAGOS STATE CIVIL SERVICE)
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- NGN 5000
ABSTRACT
This study examines the value relevance of international public sector accounting standards adoption in the Lagos state Civil service. The study utilizes secondary data extracted from 35 listed firms for the period of 8 years (2008 to 2015); 2008-2011 for pre IPSAS adoption and 2012-2015 for post adoption. The study uses correlation, pre and post research designs. Multiple regression models areused as technique of data analysis adapting Ohlson model (1995). The findings reveals that book value per share is more value relevant in post IPSAS adoption on share price of public service in Nigeria. While, earnings per share is more value relevant in pre- IPSAS adoption. Capitalized intangible assets are also more value relevant in post IPSAS adoption period. Post IPSAS adoption accounting information is more value relevant than pre IPSAS period.The Study concludes that mandatory adoption has been proven to enhance the relevance of book value of equity to the users of accounting information of financial service firms in Nigeria while IPSAS adoption has not improved the value relevance of earnings per share of the public service in Nigeria. IPSAS adoption reflects value relevant information on capitalized intangible assets. IPSAS adoption period is more value relevant on accounting information. The study recommended among others that investors and management of Lagos state Civil service should adhere strictly to IPSAS as it impacted on book value per shareand capitalize intangible assets for investment decision as they contain more explanatory power on share price after IPSASadoption.
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