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International Financial Reporting Standard Adoption:Implication on Management Accounting and Taxatio

Authors: ADEGBIE FOLAJIMI

Publication Type: Journal article

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International Journal of Research in Commerce,Economic and Management,2011 Volume 1 Number 2 pp. International Financial Reporting Standard (IFRS) is being adopted by nations all over the globe, with the objective to harmonizing accounting between countries which will make it easier to conduct business internationally and consequently raise funds in global capital market. Nigeria is faced with problems of segment reporting system, poor corporate governance which has not given transparency to the reporting system, inability of Nigeria to be listed in the International capital market. The objective of this paper is to evaluate the adoption of IFRS with the impact on management accounting and taxation. Theoretical and empirical models were adopted in analyzing the work. The theoretical model examined the adoption of IFRS and the challenges in some countries while the empirical model tested the stated hypotheses with the use of Chi-square. The findings were that IFRS will impact segmentation reporting and transparency reporting of financial and management reporting for planning, control and decision making, IFRS will impact Nigerian companies to access finance in the international capital market for global business integration, and IFRS will have positive impact on computation of tax and liabilities of Nigerian companies for easy interpretation of the tax system for decision making. The paper concludes that Nigeria should adopt IFRS with focus on ensuring corporate governance for transparency reporting and that the regulatory authorities should formulate policies that will make Nigeria companies to overcome challenges that may arise from the implementation of IFRS.

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ADEGBIE,F. . (0000). International Financial Reporting Standard Adoption:Implication on Management Accounting and Taxatio, 0 (), 0-0.

ADEGBIE,F. . "International Financial Reporting Standard Adoption:Implication on Management Accounting and Taxatio" 0, no (), (0000): 0-0.

ADEGBIE,F. and . (0000). International Financial Reporting Standard Adoption:Implication on Management Accounting and Taxatio, 0 (), pp0-0.

ADEGBIEF, . International Financial Reporting Standard Adoption:Implication on Management Accounting and Taxatio. 0000, 0 ():0-0.

ADEGBIE,FOLAJIMI , . "International Financial Reporting Standard Adoption:Implication on Management Accounting and Taxatio", 0 . (0000) : 0-0.

A.FOLAJIMI , "International Financial Reporting Standard Adoption:Implication on Management Accounting and Taxatio" vol.0, no., pp. 0-0, 0000.

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