Integrating Financial Reporting Standards into Agricultural Extension Enterprises: A Case for Sustainable Rural Finance Systems

• Author(s): Rukayat Olaniyi Yetunde ; Ogochukwu Prisca Onyelucheya ; Omoize Fatimetu Dako
• Paper ID: 1710932
• Page: 443-457
• Published Date: 31-03-2018
• Published In: Iconic Research And Engineering Journals
• Publisher: IRE Journals
• e-ISSN: 2456-8880
• Volume/Issue: Volume 1 Issue 9 March-2018

Abstract

Agricultural extension enterprises play a pivotal role in fostering rural economic development by bridging the gap between farmers, financial institutions, and government agencies. However, the lack of standardized financial reporting frameworks often undermines transparency, accountability, and access to credit facilities for rural-based enterprises. This paper reviews the integration of financial reporting standards into agricultural extension enterprises as a strategic tool for building sustainable rural finance systems. It highlights the significance of International Financial Reporting Standards (IFRS) and other localized guidelines in enhancing financial credibility, investor confidence, and long-term viability of agricultural enterprises. By examining existing challenges such as limited capacity, inadequate policy alignment, and weak institutional frameworks, the study underscores the need for harmonized reporting practices that align with global standards while being adaptable to rural realities. The review concludes by recommending policy reforms, training interventions, and digital innovations that can strengthen reporting frameworks, promote inclusive rural finance, and ensure the sustainability of agricultural extension enterprises.

Keywords

Financial Reporting Standards, Agricultural Extension Enterprises, Rural Finance Systems, IFRS Integration, Sustainable Development, Financial Transparency.

Citations

IRE Journals:
Rukayat Olaniyi Yetunde , Ogochukwu Prisca Onyelucheya , Omoize Fatimetu Dako "Integrating Financial Reporting Standards into Agricultural Extension Enterprises: A Case for Sustainable Rural Finance Systems" Iconic Research And Engineering Journals Volume 1 Issue 9 2018 Page 443-457

IEEE:
Rukayat Olaniyi Yetunde , Ogochukwu Prisca Onyelucheya , Omoize Fatimetu Dako "Integrating Financial Reporting Standards into Agricultural Extension Enterprises: A Case for Sustainable Rural Finance Systems" Iconic Research And Engineering Journals, 1(9)