Development Of Accounting Principles And Standards
(An Empirical Study)
The objective of this study is to access based on empirical research the exceptional qualities or otherwise of the present accounting principles and standards.
Information was drawn from both primary and secondary sources. The primary sources were held with members of institute of chartered accountants of Nigeria (ICAN) on the subject matters. During the time, question on the general field of accounting principles and development were asked. The rest of the information came from library sources. The information collected was analysis using simple tabular diagrams, percentages, ratio and statistical tools chi-square. The result obtained from this study is that the present way of evolving accounting principles and standard from the beginning which dates back to 600BC has not been very helpful. The study also revealed the economic life of business differ significantly so that the purpose or aims of financial reports are not the same everywhere. All these have resulted to display in the financial report between accounts.
Although, it is evident that a quest deal of success has been recorded by the accountancy, bodies worldwide, in standardizing existing standards. This project recommends that a standard based on contemporary problem and fashioned for the immediate or particular business environment be evolved. It is hoped that when the points mentioned above are fully implemented, the accountancy profession, especially in Nigeria which is currently being threatened by existing laws in the country, can effectively render those necessary committee it owes to the public it services. By way of reward for the this services, the future existences of the profession would be guaranteed as it would remain ever strong and reliable.`2
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Title page ii
Approval page iii
Dedication iv
Acknowledgement v
Abstract vi
List of tables viii
Table of contents x
CHAPTER ONE
Introduction 1
1.1 overview of study 1
1.2 Statement of problem 5
1.3 Objective of study 6
1.4 Hypothesis of the research 7
1.5 Significance of the study 8
1.6 Limitation of the study 9
1.7 Definition of terms 9
Reference 12
CHAPTER TWO
Review of related literature 13
2.1 Historical development of accounting 13
2.1.1 The early financial accounting 13
2.1.2 The venture accounting 15
2.1.3 The joint stock company 16
2.2 Development of accounting principles and standards 18
2.3 Recent revisions to accounting standards 23
2.4 Foreign currency transaction and conversion 25
2.5 Accounting for depreciation 26
2.6 Accounting for lease and hire purchase 28
References 31
CHAPTER THREE
Research methodology 33
3.1 sources of data 33
3.1.1 Primary data 33
3.1.2 Secondary data 33
3.2 Population and sample size 34
3.3 Methodology used 35
CHAPTER FOUR
Presentation and Analysis of Data 38
4.1 presentation and analysis of an empirical research into
the accounting principle and standards 38
4.2 Testing of hypothesis 46
CHAPTER FIVE
Summary of Finding Recommendation and Conclusion 62
5.1 Recommendation 64
5.2 Conclusion 67
Bibliography 68
Questionnaire 71
This “Development Of Accounting Principles And Standards” file contains 5 Chapters, 86 Pages and 11,332 Words.
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