The Effect Of Financial Accounting Reporting On The Corporate Performance Of Business Organization

The Effect Of Financial Accounting Reporting On The Corporate Performance Of Business Organization

Abstract

This exploration work ‘’ The Effect of Financial Accounting reporting on the commercial performance of business association; principally points at catching on how fiscal account report has helped in advancing the objects of commercial association. In the process, it delved the goods that fiscal account bear on the performance of a business. likewise, the sought to ascertain the compliance of applicable status by commercial associations and the overall satisfaction of stakeholders in a commercial associations. The study attained its data principally from primary source. The primary sources of data collection employed were questionnaires oral interview and observation. The study revealed that a lot of problems were essential in fiscal reporting ranging from non exposure of vital information, private judgment of the fiscal information and utmost timenon-compliance to applicable status. The recommendation given similar as strict compliance to the applicable status were made to the association, the government needs to strengthen its nonsupervisory agencies in order to insure that the fiscal statements show a “ true and fair view ” and misbehave with the applicable status at all times.

Chapter One

Preface

Background Of The Study

The impact of fiscal account reporting on the commercial performance of a business association is getting more apparent to stoner groups of a fiscal statement.

Account is a not an exact wisdom neither are business operations without some private and hypercritical crimes when it comes to reporting them. A fiscal report thus is a documental statement which forms the colorful interest groups to a business on the operations and performance of their business in a period under reviewing its present state of affairs as well as its awaited future, in agreement with the bills. If a fiscal report is to service its purpose it ought to be characterized by the following.

Applicability

Impenetrability

trustability

Absoluteness

neutrality

punctuality

still, directly and interpreted in conformity with the Generally Accepted Accounting Principles( GAAP), Statements of Accounting Standard Board( NASB), If the account process of an association is to give the information needed to prepare a fiscal report which shall have the below characteristics also the sale during the period must be recorded duly. fiscal account reporting come necessary with the egregious need for responsibility of stewardship from the directors to whom investors entrusted their fiscal coffers.

Statement Of The Problem

The study “ The impact of Financial Accounting Reporting on the Commercial Performance of Business Organization ” aims at probing the fiscal issues in account as a result of the global profitable and fiscal extremity, there has been a uninterrupted attempt to grapple with account and profitable issues.

In numerous cases, these issues remain unsolved from generation to generation. The abecedarian nature of account is still laboriously being batted with no sign of resolution. The abstract proposition is, for illustration presently being redefined by the ISAB. A particular problem is whether the stewardship or the decision making ideal should be consummate.

Objects Of The Study

The broad ideal of the study is to examine the impact of fiscal account reporting on the commercial performance of business association, other specific ideal are as follows

To assess the impact of fiscal account reporting on commercial performance of business association

To examine the acceptability of fiscal statement in decision making

To examine how exposure demand affect commercial performance

To assess company’s compliance with the regulation

To estimate whether fiscal report meets the requirements of the colorful druggies

Exploration Questions

In order to determine the impact of fiscal account reporting on the commercial performance of business associations, it’s material to test the following questions;

Does fiscal account have any significant impact on the commercial performance of business association?

Does the information bared in the fiscal statements acceptable to support good decision making?

Does the exposure demand of the bills affect commercial performance appreciatively or negatively?

Do companies misbehave rigorously with the regulation?

Does the fiscal report meet the requirements of the colorful druggies?

Significance Of The Study

This study is a veritably important one and most significant at this period of profitable situation which has witnessed the collapse of giant commercial with emotional profit and loss accounts and balance distance statement, because the fiscal report serves is a “ prima facie ” substantiation on the state of affairs of similar companies as well as its performance and could be reckoned upon as a instrument because it had the adjudicators instrument, fiscal reporting could be done with every ser business, utmost good faith and industriousness.

Compass Of The Study

This study could have covered the impact of fiscal account reporting on commercial performance of all the sectors of the Nigerian frugality but due to the challenges of similar task especially the fiscal coffers with which to execute it, it’s limited to marketable banks. The study used the Nigerian marketable banks in Kaduna.

Description Of Terms

Adjudicator A person who’s good to examine the accounts of an association to see that they’re in order.

BALANCE distance Is a business as at a specified date.

BANK Is a fiscal institution whose liabilities among others is to keep deposits for their customer and guests.

GOVERNMENT Is an institution of the state whose responsibility is to maintain law and order in the society.

PRIMA FACIE Sufficient to establish commodity fairly until falsify latterly.

Experimenter An enquiring principally concerned with hunt knowledge.

CHAPTER TWO

REVIEW OF RELATED LITERATURE

OVERVIEW OF THE FINANCIAL ACCOUNTING SYSTEM

The fiscal account system is one that’s well designed to grease the smooth, effective and continued inflow of data from the point where a sale occurs through the colorful stages of data processing to the final stage, thereby reached in a report.( Admon, 2011).