The Impact of International Financial Reporting Standards (IFRS) On Financial Statement and Performance of Quoted Firms in Nigeria

References

[1] Abe, F., Ekpeyong, T., & Nwachukwu, C. (2020). IFRS disclosures and shareholder protection in Nigeria. Al-Hikmah University Journal.23(1),3-7

[2] Adeyanju, O. A. (2020). IFRS implications on private enterprise performance in Nigeria. Journal of Financial Reporting Standards. 5(2), 38–45.

[3] Albu, N., Albu, C., Bunea, S., Calu, D. A., & Girbina, M. M. (2022). Implementation of IFRS for SMEs in Emerging Economies: Stakeholder Perceptions in Romania. International Journal of Accounting, 57(2), 31–52.

[4] Almulla, A., & Bradbury, M. (2022). Earnings Management under IFRS: Evidence from the Middle East. Journal of International Accounting Research, 21(1), 15–37.

[5] Amaefule, K. O., Onyekpere, A. K., & Kalu, C. C. (2018). Effect of IFRS adoption on financial performance of quoted manufacturing firms in Nigeria. ResearchGate.

[6] Brown, T., & Zhang, Y. (2023). Liquidity management and corporate resilience: Insights from emerging markets. Journal of Financial Economics, 183(4), 957–975.

[7] Brown, T., & Zhang, Y. (2023). Profitability and market valuation: Insights from emerging and developed markets. Journal of Corporate Finance, 183(4), 957–975.

[8] Brown, T., & Zhang, Y. (2023). Sustainability reporting and earnings quality: Implications for corporate performance. Journal of Business Ethics, 183(4), 957–975.

[9] Chamberlain, A. (2020). Definition of a firm. Business Dictionary. Retrieved from businessdictionary.com

[10] Chamberlain, A. (2020). Definition of a firm. Business Dictionary. Retrieved from https://www.businessdictionary.com

[11] Chen, R., & Lee, S. (2020). Liquidity as a buffer: Lessons from the COVID-19 pandemic. Finance Research Letters, 35, 101556.

[12] Chen, R., & Lee, S. (2020). Operational efficiency and profitability: A resilience perspective. Finance Research Letters, 35, 101556.

[13] Chen, R., & Lee, S. (2020). Resilience of high-EPS quality firms during economic crises. Finance Research Letters, 35, 101556.

[14] Cheung, E., Evans, E., & Wright, S. (2021). Financial Reporting and Resilience During COVID-19: The Role of IFRS. Accounting and Business Research, 51(3), 205–228.

[15] Corporate Finance Institute (CFI). (2024). Financial statements overview. Retrieved from https://corporatefinanceinstitute.com

[16] Corporate Finance Institute. (2024). Quoted securities and financial statements. Retrieved from corporatefinanceinstitute.com

[17] Fitó, M. A., Gómez, F., & Moya, S. (2020). IFRS Adoption and Bank Risk Disclosure: Evidence from Spain. Journal of Accounting and Public Policy, 39(1), 23–45.

[18] Horton, J., Serafeim, G., & Serafeim, I. (2021). The Impact of Mandatory IFRS Adoption on the Information Environment: Evidence from the EU. Contemporary Accounting Research, 38(2), 481–510.

[19] Ibanichuka, E. A. L., & Asukwo, O. J. (2018). Effect of IFRS adoption on financial performance of petroleum marketing firms in Nigeria. International Journal of Economics and Finance Studies.

[20] Kateb, I., & Belgacem, I. (2024). Navigating Governance and Accounting Reforms in Saudi Arabia's Emerging Market: Impact of IFRS Adoption on Financial Performance. International Journal of Disclosure and Governance, 21(2), 290–312.

[21] Kumar, R., & Liu, W. (2020). Corporate governance and earnings management: A study on EPS quality. Accounting and Finance Journal, 60(3), 1215–1230.

[22] Kumar, R., & Liu, W. (2020). The role of strategic profit management in sustaining corporate performance. International Journal of Financial Studies, 60(3), 1215–1230.

[23] Lueg, R., Punda, P., & Burkert, M. (2021). IFRS and Financial Ratios: Evidence from the UK. Advances in Accounting, 37(1), 67–81.

[24] Miller, J., Smith, H., & Taylor, L. (2022). Advanced analytics in financial reporting: Impacts on earnings metrics. International Journal of Accounting Information Systems, 42, 100533.

[25] Miller, J., Smith, H., & Taylor, L. (2022). Competitive dynamics and profitability: Lessons from industry leaders. Journal of Business Research, 42, 100533.

[26] Miller, J., Smith, H., & Taylor, L. (2022). Industry-specific liquidity strategies: A comparative analysis. Journal of Corporate Finance, 42, 100533.

[27] Ndubuisi, M. P., & Oseni, R. (2019). Impact of IFRS adoption on earnings value relevance in Nigerian firms. International Policy Brief Series.

[28] Nnadi, M., Okafor, C., & Uche, C. (2020). IFRS Adoption and Capital Market Development in Africa. Research in International Business and Finance, 53(1), 128–145.

[29] OpenStax. (2023). Principles of Accounting. Houston: OpenStax.

[30] OpenStax. (2023). Principles of Accounting. Houston: OpenStax. Retrieved from openstax.org

[31] Palea, V. (2021). The Value Relevance of IFRS in European Financial Markets. Journal of International Financial Management & Accounting, 32(1), 47–72.

[32] Smith, A., Doe, J., & White, R. (2021). Balancing profitability and sustainability: Strategic implications for corporate performance. Journal of Financial Economics, 144(2), 410–430.

[33] Smith, A., Doe, J., & White, R. (2021). EPS quality and shareholder confidence: A longitudinal study. Journal of Financial Economics, 144(2), 410–430.

[34] Smith, A., Doe, J., & White, R. (2021). Striking the balance: Liquidity levels and firm performance. Journal of Business Research, 144(2), 410–430.

[35] Waggoner, D., Neely, A., & Kennerley, M. (2019). Performance measurement in firms. European Scientific Journal, 15(1).

@article{1706671,
      author = {Dr Ogujiofor Magnus Nkemjika, Dr. Ozuomba Chidinma Nwamaka, Dr. Iwene Samuel Ojo},
      title = {The Impact of International Financial Reporting Standards (IFRS) On Financial Statement and Performance of Quoted Firms in Nigeria},
      journal = {Iconic Research And Engineering Journals},
      year = {2024},
      volume = {8},
      number = {6},
      pages = {1000-1013},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/1706671.pdf},
      abstract = {This study investigates the Impact of International Financial Reporting Standards (IFRS) On Financial Statement and Performance of Quoted Firms in Nigeria, using data from 2014 to 2023 for BUA Cement Plc, Fidelity Bank Plc, and Cutix Plc. The analysis employs multiple regression models to assess the extent to which these variables influence financial statement and performance. From the analysis, result revealed that liquidity consistently plays a significant and positive role in driving financial performance across all three companies examined.  Liquidity of Bua Cement plc,Fidelity Bank Plc, and Cutix Plc, respectively, were all statistically significant at p<0.001. In contrast, EPS and profit exhibit mixed effects. while EPS positively impacts GDP (performance) for BUA Cement Plc, it demonstrates a strong negative correlation in Fidelity Bank Plc and Cutix Plc, highlighting potential inefficiencies or sectoral differences. Similarly, profit shows a negative relationship with GDP(Performance) in all cases, underscoring the nuanced link between profitability and macroeconomic contributions. With R-squared values exceeding 0.996 across all models, the study demonstrates the robustness of liquidity as a predictor of good financial statement and performance, while highlighting the need for strategic reinvestment of profits and alignment of shareholder earnings with economic goals. These results emphasize the critical role of liquidity in fostering economic resilience and call for sector-specific strategies to optimize the broader impact of financial performance. Its as result that the study recommend that firms should focus on achieving more robust liquidity while effectively adjusting their earning per share and profit for better firm performance and macroeconomic growth.},
      keywords = {Financial Performance, IFRS, Quoted companies, Nigeria & performance},
      month = {December},
  }