NSUK Repository :: Browsing by Author "Iyere, Samuel Iheonkhan"

Browsing by Author "Iyere, Samuel Iheonkhan"

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Open Access
ADVANCED FINANCIAL ACCOUNTING
(Department of Accounting, Nasarawa State University, Keffi, 2019-12-19) Iyere, Samuel Iheonkhan
ACC419 is a first semester, three credit and 400 level core course. This course introduces learners to accounting and reporting concepts, analysis and interpretation as well as guide to preparation and presentation of accounts of group of companies.
Open Access
APPLICABILITY OF ENVIRONMENTAL MANAGEMENT ACCOUNTING PRACTICES IN NIGERIAN UNIVERSITIES: LESSON FROM LITERATURE
(Department of Accounting, Nasarawa State University, Keffi., 2021-11-10) Ameh, Jacob Ojobo; Iyere, Samuel Iheonkhan; Onoja, Anthony Idoko
Stakeholders are paying increasing attention to how well organisations respond to environment-related issues and communicate with them While efforts are being made by companies in the industrial sector by adopting Environmental Management Accounting (EMA), little is known about how service organisations particularly universities in Nigeria embrace the adoption of EMA in their operations. This exploratory study reviews extant literature to make case for Nigerian universities to embrace EMA and report on environmental concerns arising from their activities. The main objective of the study, therefore, is to find out whether or not EMA can be adopted by Nigerian universities. If so, what barriers mitigate its adoption? Based on a literature review about universities in other climes that have embraced EMA and the experience of the lead author as an erstwhile Bursar of a Nigerian-university, it is concluded that Nigerian universities have the economic and human potential to adopt EMA. The barriers to its adoption are extrapolated to include lack of awareness of environmental costs, lack of top management support, absence of institutional pressure, environmental policy, and a robust accounting system. The study recommends awareness creation via seminars and workshops for top management staff and other staff of the universities, incorporating environmental accounting courses in the curriculum of universities by the National Universities Commission (NUC), as well as integrating them into current accounting systems of the universities, accounting package such as SAGE 50/100 that can identify and classify the environmental costs and attach them to responsibility centres.
Open Access
Auditing Education And The Audit Expectation Gap Problem In Nigeria.
(Department of Accounting, Faculty Of Administration, Nasarawa State University, Keffi, 2019-06-02) Iyere, Samuel Iheonkhan; J.o, Ame; Ugoh, Timothy Terver
Auditing as a corporate governance mechanism has been commissioned to resolve the problem of information asymmetry between corporate managers and shareholders by providing independent audit reports as to the truth and fairness or otherwise of the state of affairs of corporate concerns. Over the years however, the credibility of such reports has been called to question as a result of well publicized and spectacular corporate scandals and Auditors subsequent involvement in these scandals. This has exacerbated the Audit Expectation Gap Problem. Solving this problem require effective action to eliminate or at least reduce the gap. This study examined the relationship between auditing education and the audit expectation gap problem in Nigeria. A descriptive survey research design was adopted and a sample of 296 stakeholders consisting of investors, bankers, auditors and stock brokers within Abuja metropolis were considered for the purpose of data collection using a four point likert scale questionnaire. The study aligned with the role conflict theory. Result using pearson correlation coefficient indicated that auditing education has a significant relationship with the audit expectation gap in Nigeria. It was concluded that educating the public is a veritable way of narrowing the AEG in Nigeria. The study recommended that the audit profession should evolve a simplified and broad based strategy for educating users of financial statements on the basic functions of external audit.
Open Access
AUDITING EDUCATION AND THE AUDIT EXPECTATION GAP PROBLEM IN NIGERIA.
(Department of Accounting, Nasarawa State University Keffi, 2019-06-06) Ameh, Jacob Ojobo; Iyere, Samuel Iheonkhan; Ugoh, Timothy Terver
Auditing as a corporate governance mechanism has been commissioned to resolve the problem of information asymmetry between corporate managers and shareholders by providing independent audit reports as to the truth and fairness or otherwise of the state of affairs of corporate concerns. Over the years however, the credibility of such reports has been called to question as a result of well publicized and spectacular corporate scandals and Auditors subsequent involvement in these scandals. This has exacerbated the Audit Expectation Gap Problem. Solving this problem require effective action to eliminate or at least reduce the gap. This study examined the relationship between auditing education and the audit expectation gap problem in Nigeria. A descriptive survey research design was adopted and a sample of 296 stakeholders consisting of investors, bankers, auditors and stock brokers within Abuja metropolis were considered for the purpose of data collection using a four point likert scale questionnaire. The study aligned with the role conflict theory. Result using pearson correlation coefficient indicated that auditing education has a significant relationship with the audit expectation gap in Nigeria. It was concluded that educating the public is a veritable way of narrowing the AEG in Nigeria. The study recommended that the audit profession should evolve a simplified and broad based strategy for educating users off inancial statements on the basic functions of external audit.
Open Access
Board Composition and Financial Performance of National Deposits Money Banks in Nigeria
(Department of Accounting, Faculty Of Administration, Nasarawa State University, Keffi, 2018-07-13) Iyere, Samuel Iheonkhan; Abuh, Adah; Omolehin, Motunrayo Elizabeth
Performance of banks has been identified as critical to the development of any economy. Equally, the boards of these banks also occupy a critical role in their performance as they are responsible for their success. The study examined the effect of board composition on the financial performance of deposit money banks in Nigeria. Secondary data were extracted from the annual reports and accounts of these banks. To achieve the objective of the study, multiple regression technique was adopted using the stata, version 12. The results showed that board size has negative but significant effect on the financial performance of the national deposit banks in Nigeria, non-executive directors have positive significant effect on the financial performance and independent non-executive directors have positive but insignificant effect on the financial performance of deposit banks in Nigeria. The study recommends less number of board size, between ten and fifteen which is around the mean taking into consideration the skills, competence, independence and availability for meetings. The study also recommends in line with corporate governance codes that emphasis be placed on non-executive directors although with great care and considerations.
Open Access
Casualization Of Employment And Increase In Reported Cases Of Fraud In Insured Banks Of Nigeria
(Department of Accounting, Faculty Of Administration, Nasarawa State University, Keffi, 2012-09-02) Iyere, Samuel Iheonkhan; Barnabas, Abayomi Samuel
The paper examines the relationship between casualization of employment and increase in reported cases of fraud in insured banks of Nigeria. The population consists of 24 insured banks in Nigeria as at 31st December, 2009. The sample consists of the entire population. The data used were obtained from the annual reports of Nigeria Deposit Insurance Corporation from 2003 to 2009. Panel data for 2003 to 2009 were collected for the analysis. Pearson Product Moment Correlation Coefficient, a parametric tool was employed in the analysis. The analysis reveals a strong positive relationship between casualization of employment and increased in reported cases of fraud in insured banks of Nigeria. It is not statistically significant at 5% but significant at 10%. It can be concluded that there is a strong positive relationship between casualization of employment and increase in fraud in insured bank. It is recommended that insured banks should strengthen their internal control, security and risk management systems to reduce the incidence of frauds and forgeries. Insured banks should also thoroughly screen prospective employees by obtaining status reports from previous employers and relevant agen'cies and to desist from deploying casual staff to sensitive positions. There is also need to carry out cost benefit analysis of casualization of employment in order to ensure that the perceived reduction in labour cost is not offset by increase in fraud loss exposure.
Open Access
Comparative Analysis Of Statement Of Accounting Standard, International Financial Reporting Standard And Usa Generally Accepted Accounting Principles (GAAP) On Up Stream Operations.
(Department of Accounting, Faculty Of Administration, Nasarawa State University, Keffi, 2011-05-10) Iyere, Samuel Iheonkhan; Barnabas, Abayomi Samuel; Ogohi, Joel
This paper examines the gaps that exist between the accounting standard issued by International Accounting Standard Board: International Financial Reporting Standard 6 (Exploration For and evaluation of Mineral resources) and Nigeria Accounting Standard Board: Statement of accounting Standard 14 (Accounting in The Petroleum Industry-Upstream Activities) The International Accounting Standards Board (IASB) in pursuit of it objective to help preparers of financial statements, throughout the world, produce and present high quality, transparent and comparable financial information have made great efforts in ensuring that national accounting standards converge to the international standards. In complying with this move, Nigerian publicly listed companies and significant public interest entities are required to adopt International Financial Reporting Standards (IFRS) in 2012. All other public interest entities will adopt IFRS in 2013. In doing this, a comparative study of the two standards was carried out and benchmark with US GAAP. It was discovered that gaps with wide reaching implications existed between the two standards. It was also found too that Statement of accounting Standard 14 has much similarity with US GAAP. It is recommended that there should be a comprehensive review of the current International Financial Reporting Standard 6 (Exploration For and evaluation of Mineral resources) to accommodate the provisions of SAS 14 and US GAAP to make the convergence acceptable.
Open Access
DEBT SERVICING AND ECONOMIC GROWTH IN NIGERIA: MODERATING EFFECT OF CORRUPTION
(Department of Accounting, Nasarawa State University Keffi, 2022-01-01) Otiko, Ugochukwu Nnamdi; Iyere, Samuel Iheonkhan
The aid of this study was to examine the effect of debt servicing on economic growth in Nigeria with corruption as a moderator. Debt servicing was proxy by foreign and domestic debt servicing, while economic growth was proxy by gross domestic product. Also, corruption was measured using the corruption perception index o f the Transparency International. This study adopted ex post facto research design and relied on documentary evidence from CBN statistical bulletin from 1990 to 2020. The study used multiple regression analysis technique for the purpose o f analysis after both time series tests such as unit root, cointegration and normality were conducted. The result o f this study showed that foreign debt servicing has significant effect on GDP, while the domestic debt servicing does not have any significant effect on GDP in Nigeria. The study also, showed that corruption as a moderator a negative indirect effect on relationship between debt servicing and economic growth in Nigeria. Based on the findings, the study concluded that debt servicing can be used as a predictor of economic growth in Nigeria. Therefore, the study recommended that Government should regularly service her debts as non-service could amount to debt covenant violation charges which could mean more cash outlay for the governmen
Open Access
Effect Of Audit Commitee On Auditor Independence Of Listed Deposit Money Banks In Nigeria
(Department of Accounting, Faculty Of Administration, Nasarawa State University, Keffi, 2019-06-08) Iyere, Samuel Iheonkhan; Ntiedo, Joshua; Uyagu, David Benjamin
An assessment of the effect of audit committee on auditor independence of listed firms has been a long standing issue and previous findings remain controversial because of the mixed results that were found. Consequently, this study assessed the effects of audit committee on auditor independence of listed deposit money banks in Nigeria. The study had a population of fifteen (15) listed deposit money banks and a sample size of nine (9) banks was arrived at based on two criteria that only the listed deposit money banks with data over the period of the study and those banks that have not changed their names over time were considered. Secondary method of data collection was used in gathering data from the sampled banks and it was analysed using Ordinary Least Square regression technique. The findings revealed that audit committee size had positive and significant effect on auditor independence of listed deposit money banks in Nigeria while qualification of board members had negative and insignificant effect on auditor independence of listed deposit money banks in Nigeria. The study recommended inter alia that the audit committee size and board composition of listed deposit money banks in Nigeria should be increased to enhance auditor independence of listed deposit money banks in Nigeria. Also, number of meeting frequency should be increased to enhance auditor independence of listed deposit money banks in Nigeria.
Open Access
Effect Of Corporate Governance Characteristics On Sustainability Reporting:
(Department of Accounting, Faculty Of Administration, Nasarawa State University, Keffi, 2022-08-10) Iyere, Samuel Iheonkhan; Ighosewe, Enaibre Felix; Uyagu, David Benjamin
This study investigated the effect of corporate governance characteristics on sustainability reporting with a focus on listed foods and beverage firms in Nigeria. The independent variables are board size, board composition, foreign directorship, and female directorship while the dependent variable is the sustainability reporting index. The study adopted the expost facto design. Panel data were sourced from 12 out of the 14 listed firms in the industry from 2009 to 2018. Data were collected from the annual report of the sampled firms through content analysis based on the Global reporting index (GRI) 2013 criteria. Four hypotheses formulated for the study were tested using multiple regression techniques. The findings revealed that board size, board composition and foreign directorship have positive and significant effect on sustainability reporting of listed foods and beverage firms in Nigeria. Also, female directorship had a positive but insignificant effect on sustainability reporting. The study recommended inter alia that management of listed foods and beverage firms should be retaining a good number of board sizes, board composition and foreign directors in order to enhance their sustainability reporting. It also recommended that the number of female directors on the board of listed foods and beverage firms should be reduced to boost sustainability reporting in Nigeria
Open Access
Effect of External Audit on Accountability and Transparency of Listed Deposit Money Banks in Federal Capital Territory, Abuja
(Department of Accounting, Faculty Of Administration, Nasarawa State University, Keffi, 2020-03-03) Iyere, Samuel Iheonkhan; Benjamin, David Uyagu
Accountability and transparency remain a veritable means of building trust in any organization for the purpose of building and growing a modern day economy. This study investigated the effect of external audit on accountability and transparency of listed deposit money banks in FCT, Abuja. The study had a population of 120 and a sample size of 92 which was arrived at using Taro Yamane sampling model. Data gathered using questionnaires administered to the respondents and was analysed using multiple regression technique. The findings revealed that professional competence and application of international auditing standards had positive and significant effect accountability and transparency of listed deposit money banks operating in FCT Abuja.It was recommended amongst others that managers of listed deposit money banks in FCT Abuja should ensure that the external auditors apply international auditing standards in the engagement and use personal that have professional competence in order to boost accountability and transparency of their activities.
Open Access
Effect Of Firm Characteristics On Financial Reporting Quality Of Listed Consumer Goods Companies In Nigeria
(Department of Accounting, Faculty Of Administration, Nasarawa State University, Keffi, 2018-12-02) Iyere, Samuel Iheonkhan; Henry, Oni
This study investigates the effects of firms ’ characteristics on financial reporting quality of listed consumer goods companies in Nigeria for the period of ten years, from 2008-2017. An ex-post facto research design was adopted for the study. The population of the study consists of 22 consumer goods companies listed on the floor of the Nigerian Stock Exchange (NSE). The data used in this study were secondary data derived from annual reports of consumer goods companies that are listed on the NSE. The study used panel regression with respect to the use of Hausman specification test to settle on the use of fixed effect model. The study revealed that firm structural characteristics have significant negative effects on FRO of listed consumer goods companies in Nigeria, while monitoring characteristics has no significant effects on FRQ of listed consumer goods companies in Nigeria. Also, performance characteristics have no significant effects on FRO of listed consumer goods companies in Nigeria. The study concludes that firm characteristics are significant factor that determines financial reporting quality of listed consumer goods. Based on the findings derived from this study, the study recommends that the regulatory bodies such as SEC and FRC should engage in activities that will propel the big firms to disclose all the necessary information required of them in the published financial statements with great emphasis on quality financial reporting among other recommendations.
Open Access
Effects Of Board Attributes On Accounting Conservatism Of Listed Consumer Goods Companies In Nigeria
(Department of Accounting, Faculty Of Administration, Nasarawa State University, Keffi, 2018-12-02) Iyere, Samuel Iheonkhan; Timothy, Terver Ugoh; Jacob, Ojobo Ame
This study assessed the effect of board attributes (board independence, board size, board gender diversity and board expertise) on accounting conservatism of listed consumer goods companies in Nigeria. Ex post facto research design was adopted and the twenty-one consumer goods firms listed on the Nigerian Stock Exchange were considered as sample size for the study. The study was anchored on agency theory. The result of the study using panel regression analysis indicated that board size, board independence and board financial expertise have significant effect on the accounting conservatism while board gender diversity does not significantly influence accounting conservatism. It was therefore recommended based on the findings of the study that companies in trying to ensure accounting conservatism can give greater attention to board size, board independence and board expertise while such priority may not be given to board gender diversity as it does not significantly affect accounting conservatism.
Open Access
Effects Of External Reserves On Macro Economic Stability Of Nigeria
(Department of Accounting, Faculty Of Administration, Nasarawa State University, Keffi, 2019-06-11) Iyere, Samuel Iheonkhan; Kolawole, Mudasiru Ibrahim
The need to account for the effect of external reserves has generated a lot of argument around the world as to where it is necessary for nation to account for external reserve or not. Thus study examines the effect of external reserves on the macro-economic stability of Nigeria. For the period of thirty-two years from 1985 to 2017. The dependent variables were GDP, Exchange rate, inflation rate and unemployment rate while the independent variable is the external reserves. The ordinary least squares was used to analyse the data, and the results showed that the external reserves have effect on unemployment rate, inflation rate, exchange rate and GDP. Therefore the study concludes that external reserves have effect on Macro- economic stability of Nigeria. The study recommends among others that the Federal Government should diversity her revenue base to Agriculture, Hospitality and tourism sectors among other sectors in order to remain stable even when there is financial and economic crisis around the world.
Open Access
Financial Derivatives And The Development Of Nigerian Banks
(Department of Accounting, Faculty Of Administration, Nasarawa State University, Keffi, 2011-09-12) Iyere, Samuel Iheonkhan; Samuel, Tende
Financial derivatives have grown rapidly in recent years in developed economy due to improvements in computer technology, innovations in financial theory, and the need to manage risks arising from volatility in the interest and currency exchange rates. Derivatives are increasingly being used to manage various kinds of risk exposure, to obtain desirable financing, and to enhance investment and speculative opportunities. This paper examines the role offinancial derivatives in the development of Nigerian banks. It successively sketches the main features of financial derivatives and the related regulatory issues. We find that development of financial derivatives is justified in Nigeria by volatility in output, prices, currency, exchange rates, interest rates and inflation. The use of derivatives by Nigeria banks would provide avenue to new products and thus reduce tension, unhealthy competition and inefficiency in pricing as is currently the case with the sourcing of deposits. In addition, the sooner the Nigerian banks understand and trade derivatives, the sooner Nigeria will emerge as an international financial centre representing the African region. The complexities of the derivatives markets are increasing every day, and it is important for the policy makers and regulators to understand these markets before embarking on it. The paper recommends for use by supervisory authorities and banks the set of guidelines formulated by Basle Committee on Banking Supervision on the sound risk management of derivatives activities '. In addition, the paper recommends that derivates should be accounted for in accordance with International Financial and Reporting Standard (IFRS).
Open Access
Financing of Micro and Small Scale Enterprises and Poverty Reduction in Nigeria: An Empirical Investigation
(Department of Accounting, Faculty Of Administration, Nasarawa State University, Keffi, 2011-07-15) Iyere, Samuel Iheonkhan; Sam, Tende B.A.
The establishment of microfinance banks in Nigeria was to assist small and medium scale enterprises in Nigeria in raising their productive capacity and level of employment generation, thus alleviating poverty and enhancing human capital development. The objective of this paper therefore was to examine extent of the contribution of Microfinance Institutions (MFIs) to poverty alleviation and sustainable development. Data were collected from randomly selected sample size of sixty (6o) members and non-members of MFIs inTaraba State.The data was analyzed using frequency and regression analysis at 0 =0.05 aided with the use of SPSS statistical package. The results of the analysis revealed that shows microfinance Institutions (MFIs) has significant effect on poverty alleviation and sustainable development. The paper also established that micro-finance is indeed a strategy for poverty reduction. It was recommended that Microfinance can be more viable strategy for sustainable poverty alleviation if more is to be done on programme outreach and depth.
Open Access
Firm Attributes and Accounting Information Disclosure by International Oil Producing Companies In Nigeria
(Department of Accounting, Faculty Of Administration, Nasarawa State University, Keffi, 2016-04-16) Iyere, Samuel Iheonkhan; Musa, Inuwa Fodio
The nature and types of information to be disclosed in published financial reports are regulated mainly by accounting standards. The extent to which companies comply with these standards varies between companies and between industries. This study examines the effects of company attributes on accounting information disclosure by international oil companies in Nigeria. The sampling frame of the study consists of international oil companies involved in joint venture agreement in Nigeria. The quality of disclosure is measured by a constructed index based on the disclosure requirements of SAS 14. The study used secondary data obtained from the annual accounts and reports of the international oil companies in Nigeria for the period 2002-2011. Ordinary Least Squares (OLS) pool regression analysis was used to test the effects of company size, quantity of oil produced, oil reserve, profitability, liquidity, age, and provision intensity on disclosure of accounting information by the sampled companies. The findings revealed that size, level of production, oil reserve, liquidity and profitability are major determinants of level of compliance by international oil companies. The study also revealed that existing reserve disclosure practices are largely discretionary. On the basis of these findings, the study recommends that board of directors of the international oil companies should strive to maintain a steady increase in company size, profitability and oil production as these factors have the propensity of improving the level accounting information disclosure in the companies.
Open Access
Impact Of Interest Rates On Saving Mobilization In Nigeria
(Department of Accounting, Faculty Of Administration, Nasarawa State University, Keffi, 2016-07-05) Iyere, Samuel Iheonkhan; Orbunde, Bemshima Benjamin
Before the deregulation of interest rates in Nigeria, the current rates of interest were regulated and controlled by government through the Central Bank of Nigeria (CBN). This was meant to guide the economy lo follow the desired direction. However, it was soon realized that (he low rates of interest that prevailed could not sustain savings mobilization in the country. The study thus seeks to empirical!) examine the impact of interest rales on savings mobilization between 1987 and 2014 using Ordinary Least Square (OLS) regression method. Unit root test was employed to lest the stationary levels of the variables before conducting the regression analysis. The stationary variables were subsequently used for the analysis to avoid spurious regression results. The co-integration results showed that long-run equilibrium relationship exist among the variables used for the analysis. The findings from the study showed that interest rate on savings have positive and significant relationship with saving mobilization in Nigeria. It showed that the higher the interest rates, the higher the savings mobilization in Nigeria. Suggestive from the analysis therefore is that the monetary authorities should embark on routine efforts at bridging the widened gap between interest rates on savings and savings mobilization to foster a moderate rise in nominal interest rates and stabilize inflationary pressure. This would further encourage and generates needed loardable funds for investment in Nigeria.
Open Access
Impacts Of Public Expenditure On Economic Growth In Nigeria
(Department of Accounting, Faculty Of Administration, Nasarawa State University, Keffi, 2019-06-19) Iyere, Samuel Iheonkhan; Mohammed, Goni Bello
The study seeks to investigate the impact of public expenditure on economic growth in Nigeria for the period 1961-2014. Administrative services, social and community services and economic services serve as proxy for Public expenditure while Gross Domestic Product served as proxy for Economic Growth. Secondary Data were obtained from CBN statistical bulletin. Ex post facto research design was used for the study. Descriptive statistics were employed in the study. Philip-Perron test and Ordinary Least Square (OLS) regression method was used in carrying out stationary test and Data analysis respectively. The results of the analysis showed that there is significant relationship between public expenditure on administrative services, social and community services and economic services on economic growth. Based on the findings, the study recommends that public expenditure components of Administrative services, social and community services and economic services should be increased which will invariably increase economic growth in Nigeria.
Open Access
Implementation Of International Financial Reporting Standard In Secondary Schools Curriculum
(Department of Accounting, Faculty Of Administration, Nasarawa State University, Keffi, 2016-05-14) Iyere, Samuel Iheonkhan; Barnabas, Abayomi Samuel; Ameh, Jacob Ojobo
Accounting education in Nigeria has developed over the years and has been largely sharpened by legal and institutional framework, multinational corporations, increased in government spending, societal pressures and technological advancement, unrelenting competitive pressure, impact of information and communication technologies; globalization of business; focus on fair value accounting; demand for new knowledge and skills and demand for improvements in corporate governance and ethics. More recent is the adoption of International Financial Reporting Standard (IFRS) in all aspects of financial reporting in Nigeria business sector, unfortunately there is a neglect of the secondary sector This paper is exploratory in nature and it adopts content analysis of N ECO and WAEC curriculum for 2013 to 2015 on Financial Accounting/book keeping and account for the year along with interview of 30 secondary schools students of Niger South Senatorial District of Niger Slate. It was discovered that the Education policy makers have failed to effect the necessary change in ordinary level curriculum and its implementation by necessary examination bodies. In the same vein, teachers in secondary schools were not trained or equipped to handle this change. It is recommended that there is the need to review the current accounting education curriculum to take care of these developments.