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The Changes In Accounting Standards Its Impact On Financial Statement
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The project is a comprehensive study of the changes in Accounting standard, the impact on financial statement with a study of Guiness Nigeria Plc Benin Branch, Edo state. This project is aimed at determining the impact of Accounting standard on the users of financial statement and also the needs of the Accounting standard. Data were collected, through primary and secondary sources. The finding revealed that the changes in Accounting standard play a vital role of the financial statment of the companies that adopted the change. Therefore, the impact of Accounting standard cannot be over emphasized hence it depends on the conferment of a given organizaitonal setting from the conclusion of the study, it can be observed that there will be serious potentials for misunderstaniding and suspicious resulting form information based on mix of conflicting accounting policies. It is therefore recommended that since international financial reporting standard has come to stay with thirteen standards already to its credit. Therefore one would except that the standard should be aplied on small scale business that are not quoted, and also non-compliance with accounting standard should not be seen only as a statutory offence but also as a criminal offence which can probably lead to closure of such business.
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CHAPTER ONE - [ Total Page(s): 3 ]CHAPTER ONEINTRODUCTION1.1 BACKGROUND OF THE STUDYIn recent years, there has been a lot of criticism about accounting standard and the impact of the recent changes in financial report they prepare. A lot of people have led to question the validity of the profit measuring procedures applied in arising at the profit disclosed in published accounting. Quite a number of proposal have been made in an attempt to reform the methods generally in used.This has resulted in coming together of diffe ... Continue reading---
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CHAPTER ONE - [ Total Page(s): 3 ]CHAPTER ONEINTRODUCTION1.1 BACKGROUND OF THE STUDYIn recent years, there has been a lot of criticism about accounting standard and the impact of the recent changes in financial report they prepare. A lot of people have led to question the validity of the profit measuring procedures applied in arising at the profit disclosed in published accounting. Quite a number of proposal have been made in an attempt to reform the methods generally in used.This has resulted in coming together of diffe ... Continue reading---
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ABSRACT -- [Total Page(s) 1]
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