A Comparative Analysis of Financial Reporting in Nigeria and the UK
Posted: 4 Feb 2010
Date Written: February 2, 2010
Abstract
Financial report of countries varies due to differences in accounting practices of different countries. These depend on the level of differences in accounting standards of the countries under review. The International Accounting Standards Board (IASB) developed the International Financial Reporting standard (FIRS) which serves as the general international acceptable standard for preparing financial report globally.
These form the bases of this work which compares the financial reporting in Nigeria to that of the UK. For a comprehensive comparison, it is important to understand financial reporting in Nigeria and UK, the governing bodies, relevant financial and environmental factors, regulatory framework, details of accounting rules used in these countries, activities in their stock exchange market, as well as the similarities and differences in annual account of a company in Nigeria to a company in the UK.
JEL Classification: M41, M44, M47
Suggested Citation: Suggested Citation