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AUTHOR(S): Abiodun Samuel Ajayi, Kolawole Olalekan Adebola, Falaye Joseph Adebanjo, Babalola Raphael Adesunloro, Adenike Oladipo Omowumi, Ajagbe Grace
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ABSTRACT This study investigated the adoption of International Financial Reporting Standards (IFRS) and how it impacts the financial performance of listed service firms in Nigeria. This research covers 20 years pre-IFRS (2002-2011) and post-IFRS (2012-2022). The sample size for this study is ten (10) service companies listed on the Nigeria Exchange Group. The study adopted the Ex post facto research method while the research hypotheses were tested using a t-test. The study revealed a significant relationship exists between service companies’ Return on Asset, Return on Equity and Debt to Equity after the adoption of IFRS. Based on this result, this study recommends that service companies should ensure complete and proper adoption of IFRS standards in preparing their financial statements, they should allocate sufficient resources to ensure a smooth transition and proper implementation of IFRS. Finally, this study recommends that service companies should regularly assess the impact of IFRS adoption on their financial performance and make necessary adjustments to their accounting policies and practices. |
KEYWORDS International Financial Reporting Standards; Financial Reporting; Debit Equity Ratio; Stock Exchange; Nigeria |
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Cite this paper Abiodun Samuel Ajayi, Kolawole Olalekan Adebola, Falaye Joseph Adebanjo, Babalola Raphael Adesunloro, Adenike Oladipo Omowumi, Ajagbe Grace. (2025) International Financial Reporting Standard and Financial Performance of Listed Service Firms in Nigeria. International Journal of Economics and Management Systems, 10, 64-80 |
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