ABSTRACT
The research work “The Impact of Financial Accounting on Corporate Performance of Business Organization,” basically aims at ascertaining how financial accounting reporting has helped in advancing the objectives of corporate organizations. In the process, it investigated the effect that financial accounting, bear on the performance of a business. Furthermore, if sought to ascertain the compliance of relevant statues by corporate organizations and the overall satisfaction of stakeholders in a corporate organizations. The study obtained its data collection from primary and secondary sources. The primary data are collection employed were questionnaire, oral in review and observations, while the secondary sources of data included text books, journals. In the analysis of that data collected, the simple percentage was used to analyze the response gathered. The study revealed a lot of problems were inherent in financial reporting ranging from non-disclosure to vital information, subjective judgments of prepares of the financial information and most times non-compliance to relevant statues. There were recommendations given such as strict compliance to the relevance statue were made to the companies, the government needs to strengthen its regulatory agencies in order to ensure that the financial statements shows a “true and fair view and comply with relevant statues at all times.
TABLE OF CONTENTS
Title Page
Certification
Dedication
Acknowledgment
Abstract
Table of Contents
List of Tables
CHAPTER ONE: INTRODUCTION
- Background of the Study
- Statement of the Problem
- Objective of the Study
- Research Hypothesis
- Significance of the Study
- Scope of the Study
- Limitation of the Study
- Delimitation of the Study
CHAPTER TWO: REVIE OF RELATED LITERATURE
2.1 Introduction
2.2 Overview of the Financial Accounting System
2.3 Financial Accounting Record
2.4 The Subsidiary Books of the General Journal (Proper)
2.5 Source Document
2.6 The Ledger
2.7 Classification of Accounts
2.8 The Trial Balance
2.9 The Trading Profit and Loss Account
2.10 The Balance Sheet
2.11 Principles and Assumption underlying Financial Standard
2.12 Accounting Standard
2.13 Controversial Issue in Financial Accounting Reporting
2.14 Cross Sectional Analysis of Selected Companies in Akwa Ibom Stat
2.15 Brief History of the Companies
End Notes
CHAPTER THREE: RESEARCH DESIGN AND METHODOLOGY
3.1 Introduction
3.1.1 Research Questions
3.2 Design of the Study
3.3 Area of the Study
3.4 Population of the Study
3.5 Sample and Sampling Techniques
3.6 Instrument and Method of Data Collection
3.7 Data Analysis Techniques
CHAPTE FOUR: DATA PRESENTATION, ANALYSIS AND
INTERPRETATION
4.1 Introduction
4.2 Presentation and Analysis
CHAPTER FIVE: SUMMARY OF FINDINGS, CONCLUSION AND
RECOMMENDATIONS
5.1 Findings
5.2 Conclusion
5.3 Recommendations
References
Appendix
CHAPTER ONE
INTRODUCTION
- Background of the Study
The impact of financial reporting on the corporate performance of a business organization is becoming more apparent to user groups of a financial statement.
Accounting is not an exact science neither are business operations without some subjective and judgement errors when it comes to reporting them. A financial reporting therefore is a document statement which informs the various interest groups to a business on the operations and performance of their business in a period under reviewing its present state of affairs as well as its anticipation future, in accordance with the statutes. If a financial report is to service its purpose, it ought to be characterized by the following:
In the accounting process of an organization, is to provide the information required to prepare a financial report which shall have the above characteristics, then the transaction during the period must be recorded prompt and accurately and interpreted in conformity with the Generally Accepted Accounting Principles (GAAP), statements of Accounting Standard Board (SASB), international Accounting Standard Committee and the Companies and Allied mattes Act Cop LFN (CAMA).