Impact Of Financial Information On The Profitability Of Business Organization In Nigeria

IMPACT OF FINANCIAL INFORMATION ON THE PROFITABILITY OF BUSINESS ORGANIZATION IN NIGERIA

ABSTRACT

The primary goal of the study project “The impact of Financial information on the profitability of business organizations in Nigeria” is to determine the role that financial information reporting has played in furthering corporate organizations’ goals. During the process, it looked into the impact financial information had on a company’s success. Additionally, if aimed to determine whether corporate organizations comply with pertinent statutes and the general satisfaction of stakeholders in a corporate organizations. The study mostly used primary and secondary sources to gather its data. While questionnaires, oral interviews, and observations served as the primary sources of data, secondary sources of information included books and journals. The chi-square was employed to examine the replies gathered throughout the examination of the data gathered. The study found that there were numerous issues with financial reporting, including the failure to disclose important information, the subjective evaluations of those who create the financial information, and frequently a failure to comply with applicable laws. The government should strengthen its regulatory agencies to guarantee that the financial statements present a “true and fair view” and always conform with the applicable statutes, according to recommendations made to the firms, including strict adherence to the relevant statute.