THE USEFULNESS OF ACCOUNTING STANDARD IN THE PREPARATION OF FINANCIAL STATEMENT
Sold By: Joe Project Store | Item Type: Project Material | Report this? | Attributes: 65 pages | 1-5 chapters | Amount: ₦5,000 | 1 order. | Marked useful: 3,527 times
INSTANT PROJECT MATERIAL DOWNLOADTHE USEFULNESS OF ACCOUNTING STANDARD IN THE PREPARATION OF FINANCIAL STATEMENT
TABLE OF CONTENT
Title page
Approval page
Dedication
Acknowledgement
CHAPTER ONE
Introduction
1.1 Statement of problem of accounting standards
1.2 How accounting standard come to be in the developed world
1.3 How accounting standard come to be in Nigeria
1.4 Various bodies that regulate the development of accounting standard and accounting statesman they prepare
CHAPTER TWO
Literature review
2.1 The usefulness of accounting standard in the preparation of financial statement
2.2 The procedure for the issuance of accounting standards
2.3 Relevance of accounting statement to auditing
2.4 Effectiveness of accounting statement
CHAPTER THREE
3.1 Summary of finding
3.2 Recommendation
3.3 Conclusion
Bibliography
CHAPTER ONE
INTRODUCTION
As a result of increased commercial activities through out the world, many big business expand beyond their countries to have a share of the world market.
Therefore, established branches are translated accordingly based on exchange rates existing and at the end set of financial statements are prepared and published.
In preparing these financial statement normal accounting practices and procedures must be followed and a number of legal and other requirement observed.
In the international market, it was observed that it was possible for accounting policies to differ in one single transaction.
For instance, in a group involving foreign subsidiaries, the method of valuing stock may not be same if the Nigerian company for example use last – in – first – out (LIFO) and the other seas company uses first – in – first – out (FIFO) the result will differ.
In addition to accounting policies reporting formats and disclosure requirement may not be the same there is therefore the need for accounting policies and disclosure requirement to be international comparable and acceptable.
Accounting standard like, internationally accounting standard (IAS) statement of standard accounting practices (SSAP) financial reporting standard etc.
Constitute a set of definitive principle to be followed when preparing financial statement departures from principles and practice enunciated in these standard are permissible in exception circumstance only where adherences would fail to give a true and fair view in a specific instance or because the accounting standard world be obviously inappropriate or because exemption from disclosure is spanted by status.
1.1 STATEMENT OF PROBLEM OF ACCOUNTING STANDARD’S
Nigeria accounting standard board has issue statement of accounting standard which has compliance with international accounting standard.
The following standards has been issued in Nigeria and each of them has a particular IAS it complies with
SAS 1 – disclosure of accounting policies
This material content is developed to serve as a GUIDE for students to conduct academic research
DOWNLOAD THIS PROJECT MATERIAL NOW!
Advertise Here
Not what you were looking for? Perform a search
What's your project topic?
Comment on Facebook:
Related Project Materials
- 1.
THE IMPACT OF COST REDUCTION TECHNIQUES ON THE PROFITABILITY OF MANUFACTURING COMPANIES
CHAPTER ONE INTRODUCTION 1.1 Background to the Study The proficiency of a company in cost management significantly influences its trajectory of exp...More »
Item Type: Project Material | 54 pages | 433 engagements |
- 2.
AN EXAMINATION OF THE RELATIONSHIP BETWEEN INVENTORY MANAGEMENT AND ORGANIZATIONAL PROFITABILITY IN ...
CHAPTER ONE INTRODUCTION Background of the study A critical constituent of current assets is inventory. It constitutes approximately 60% of its ove...More »
Item Type: Project Material | 54 pages | 238 engagements |
- 3.
THE IMPACT OF FINANCIAL LITERACY ON THE PERFORMANCE OF SMALL SCALE ENTERPRISES IN CAMEROON
CHAPTER ONE INTRODUCTION 1.1 Background to the Study Small scale enterprises' (SSEs) contribution to the national economy should not be undervalued...More »
Item Type: Project Material | 54 pages | 1,606 engagements |
- 4.
THE EFFECT OF GOOD RECORD MANAGEMENT IN ORGANIZATIONAL PERFORMANCE IN CAMEROON
CHAPTER ONE INTRODUCTION Background of the study Since time immemorial, information has been considered an essential resource for all types of orga...More »
Item Type: Project Material | 54 pages | 779 engagements |
- 5.
A STUDY ON THE IMPLICATIONS OF ETHICS IN FINANCIAL REPORTING ON MONEY DEPOSIT BANKS IN LAGOS
CHAPTER ONE INTRODUCTION 1.1 Background of the Study The idea that an entity's financial statements are subject to a set of rules dictated by estab...More »
Item Type: Project Material | 54 pages | 893 engagements |
- 6.
AN APPRAISAL OF GLOBAL HEALTH INITIATIVE IN RESPONSE TO PREVENTION TO PANDEMIC DISEASE IN NORTH WEST...
CHAPTER ONE INTRODUCTION Background of the study The Global Health Initiative (GHI) aims to enhance the effectiveness and influence of all U.S. for...More »
Item Type: Assignment | 54 pages | 1,177 engagements |