Assessing the Impact of Accounting Practice on Business Growth in Nigeria: A Scholarly Annotation

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@article{1715756,
      author = {Dr. Emmanuel I. Ogbenjuwa},
      title = {Assessing the Impact of Accounting Practice on Business Growth in Nigeria: A Scholarly Annotation},
      journal = {Iconic Research And Engineering Journals},
      year = {2026},
      volume = {9},
      number = {9},
      pages = {3269-3289},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/1715756.pdf},
      abstract = {The topic of my analysis is the impact of accounting practice on business growth in Nigeria. I have analyzed and evaluated 15 peer-reviewed articles of current scholarly research on the impact of accounting practice on business growth in Nigeria.  The study is on the appraisal of accounting practice as it impacts economic growth. The study employed a thematic review of peer reviewed articles on accounting practice and economic growth in Nigeria. The purpose of the study is to identify emerging themes and patterns common to the reviewed articles. Accounting practice was reviewed through the theoretical lenses of: Tax practice and administration; Financial Structures; Audit assurance and environmental matters; Accountability in Islam; Financial reporting quality and accounting information; Stock market indices etc. The analysis of Tax administration mirrored into the activities of Tax haven and corporate tax shield. A theoretical evaluation of theory of financial crime unveils negative impact on economic growth in Nigeria. The interplay of stock market prices as predicated by quality of accounting information showed that creative accounting and managerial discretion prejudices transparency and true stewardship. Investors’ confidence and general investment are on the decline due to misleading and low-quality financial reporting practices. Unethical banking practices is associated strongly with decline on investment and growth. A synoptic integrated analysis was carried out after a study by study evaluation to identify emerging themes and patterns. My analysis indicated a gap between accounting theories and practice in Nigeria, resulting in substandard financial reporting and unreliable accounting information. Scholars diagnosed poor and inept practitioners as the bane of accounting practice in Nigeria. In this study, I have identified gaps between theories and practice, and emphasized the need to expand the knowledge horizon of accounting practitioners and of the Nigerian business community. This gave me the justification to delineate the projects highlighted in my conclusion to bridge gaps between theories and practices of accounting in Nigeria. The study concludes with recommendation for institutional and infrastructural overhaul necessary to soar up the teaching of accounting, drive up professional ethics and improve on accountability and transparency.},
      keywords = {Accountability; Awqaf; Economic growth; Financial Reporting and Transparency},
      month = {March},
      doi = {https://doi.org/10.64388/IREV9I9-1715756}
  }