Brief Introduction

An acceptable global high international quality financial reporting standard (IFRS) was initiated in 1973 when the international accounting standard committee (IASC) was formed by professional bodies from different countries (such as the United States of America, the United Kingdom, Mexico, Australia, Germany, France, Canada, Japan, and the Netherlands) all over the world (Garuba and Donwa, 2011).

This body was properly recognized in 2001 by the international accounting standards board (IASB), and as well developed accounting standards and related interpretations jointly referred to as the international financial reporting standards (IFRS).

The supremacy of IFRS further improved in September 2002, when the United States financial accounting standard board (FASB) and IASC undertook to work closely based on their agreement to develop high-quality compatible accounting standards that could be adopted for both domestic and cross border financial reporting.

These bodies so far achieved their objectives and are far advanced in the IFRS – Us Generally Accepted Accounting Principles (GAAP), Convergence Although, many developing counting who do not want to be left behind took a cue from the world major economics to either adapt, adopt or converge the IFRS Different countries on the other hand use different approaches in adopting IFRS based on their need and ability to adapt. (Azobi, 2010).

Table of Contents

Title Page
Certification
Dedication
Acknowledgment
Abstract
Table of content

CHAPTER ONE
1.1 Introduction
1.2 Background of the study
1.3 Statement of the problem
1.4 Objectives of the study
1.5 Research questions
1.6 Statement of Hypothesis
1.7 Scope of the study
1.8 Significance of the study
1.9 Justification of the study
1.10 Definitions of Terms

CHAPTER TWO:
2.0 Introduction
2.1 Conceptual Review
2.1.1 Development of accounting profession in Nigeria (Brief overview)
2.1.2 Legal and regulatory framework of accounting in Nigeria
2.2 Theoretical Review
2.1 The rational utility maximization theory
2.2.2 Pure impression management model
2.3 Empirical Review
2.3.1 Benefits of adopting IFRS in Nigeria
2.3.2 Challenges to IFRS adoption in Nigeria
2.3.3 Benefits and challenges of the implementation of IFRS to economic development
2.3.4 Requirements that will assist implementation of IFRS in Nigeria
2.4 Financial reporting regulations and regulators in Nigeria
2.4.1 Components of IFRS financial statements
2.4.2 Roadmap for the adoption of IFRS and the implications in Nigeria
2.4.3 Adoption statement of IFRS
2.4.4 Reasons for IFRS

CHAPTER THREE
3.0 Research Methodology
3.1 Introduction
3.2 Area of Study
3.3 Population of the study
3.4 Research Design
3.5 Sample and Sampling technique
3.6 Data collection procedure
3.7 Methods of Data Analysis

CHAPTER FOUR
4.0 Presentation and Analysis of Data
4.1 Analysis of questionnaire
4.2 Testing of Hypothesis

CHAPTER FIVE
5.0 Summary, Conclusion, and Recommendation
5.1 Summary
5.2 Conclusion
5.3 Recommendation
References
Questionnaire