Format: MS WORD | Chapter: 1-5 | Pages: 65-80 | Price NGN3,000
THE USEFULNESS OF ACCOUNTING STANDARD IN THE PREPARATION OF FINANCIAL STATEMENT
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 adherence 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.
HERE IS WHAT OUR HAPPY CLIENTS ARE SAYING
I actually googled and saw about projectmaster.com.ng, copied the number and contacted them through WhatsApp to ask for the availability of the material and to my luck they have it. So there was a delay with the project due to the covid19 pandemic. I was really scared before making the payment cause I’ve been scammed twice, they attended so well to me and that made me trust the process and made the payment and provided them with proof, I got my material in less than 10minutes.
I received excellent customer support, and quickly. Thank you so much!
I love your service! I would recommend projectmaster.com.ng to anyone. What a great find!
I am aware of online scam but because of the hectic nature of writing project, I decided to try sourcing for help online and to my surprise, projectmaster.com.ng gave complete project in less than 5 minutes. I could not believe it sincerely. Thank you so much guys.
