DSpace Repository :: Browsing by Author "Akande, Adesola A."

Browsing by Author "Akande, Adesola A."

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ACCOUNTING REGULATORY FRAMEWORK AND PUBLIC INSTITUTIONS' COMPLIANCE IN NIGERIA
(International Journar of Economics, Commerce and Management, United kingdom, 2015-01) Akande, Adesola A.; Olowe, Sunday O.; Olowe, Folake T.
This paper is an attempt to investigate the rate of compliance of public institutions with the framework stipulations of accounting regulations in Nigeria. Series of accounting Regulatory Provisions guiding preparation and presentation of financial reports in public institutions were examined. Descriptive statistical methods - Simple Percentage Method (SPM) and Chi-square were used on 50 Respondents from Ministry of Finance and the Office of Accountant General of the State of Osun in Nigeria. The paper revealed that there is a positive relationship between regulatory framework and financial reports preparation and presentations in Osun State. The study recommends that Proper trainings on public sector accounting and establishments of performance evaluation of employees should be put in place in order to make public institutions account more effective in the State of Osun.
ACCOUNTING REGULATORY FRAMEWORKS AND PUBLIC INSTITUTIONS’ COMPLIANCE IN NIGERIA
(International Journal of Economics, Commerce and Management, 2015) Akande, Adesola A.; Olowe, Sunday O.; Olowe, Folake T.
This paper is an attempt to investigate the rate of compliance of public institutions with the framework stipulations of accounting regulations in Nigeria. Series of accounting Regulatory Provisions guiding preparation and presentation of financial reports in public institutions were examined. Descriptive statistical methods - Simple Percentage Method (SPM) and Chi-square were used on 50 Respondents from Ministry of Finance and the Office of Accountant General of the State of Osun in Nigeria. The paper revealed that there is a positive relationship between regulatory framework and financial reports preparation and presentations in Osun State. The study recommends that Proper trainings on public sector accounting and establishments of performance evaluation of employees should be put in place in order to make public institutions account more effective in the State of Osun.
Barriers of Microfinance Banks’ Credit Delivery to Small Enterprises: An Empirical Analysis from South-Western Nigeria
(The Romanian Economic Journal, 2020-12) Obadeyi, J.A; Ogbeide, S.O.; Akande, Adesola A.
This study empirically investigated the barriers of Microfinance banks’ credit delivery to small enterprises in Nigeria. The areas of study were Lagos and Ogun States. The population of the study was made up of all the Microfinance banks in Lagos and Ogun States in the South –Western Nigeria. A sample of eight (8) microfinance banks were chosen; with five (5) from Lagos State and three (3) from Ogun State using the purposive sampling method. The choice of the sample size was predicated on ability of the researchers to access financial statements of the selected microfinance banks in the two selected states in the South – Western, Nigeria. Primary data was used through a structured questionnaire. Total of forty (40) questionnaires were administered to the respondents, consisting of MFBs staff – branch managers, operation managers, risk managers, and credit officers who examined and administered credit applications from small enterprises’ owners on behalf of bank management on a one-on-one basis. Mean ranking and factor analysis were used to analyze the data. Findings revealed economic recession as major barrier confronting MFBs in credit delivery to small enterprise owners. The study concluded that despite the roles of MFBs to provide loans and other financial services to small enterprises operators, the sector was faced with different barriers thereby limiting their financial performance. The study recommended that Central Bank of Nigeria (CBN) should adopt a holistic approach on how barriers confronting MFBs would be drastically reduced, controlled and managed to improve MFBs operations.
EFFECT OF STOCK MARKET REGULATIONS AND REFORMS ON INVESTORS’WEALTH IN NIGERIA
(International Journal of Economics, Commerce and Management, 2015-01) Akande, Adesola A.; Olowe, Sunday O.; Asabi, Oludele M.
This paper examines the impact of stock market regulations and reforms on frequent wealth–loss often experienced by investors in Nigeria Stock Exchange Markets right from March, 2008 in Nigeria. Secondary data on two selected banks-listed on the Nigeria Stock exchange market in Nigeria before April, 2003 using random selection method, viz: First Bank of Nigeria and Union Bank of Nigeria. The data collected were analyzed using descriptive statistical method of time series and Simple Percentage Method (SPM). The study revealed that share values are attractive and considerably stable in term of return to investment of shareholders during the preshare crisis period due to the effectiveness of the enabling stock market regulations than in the post share crisis period when value of shares went into spiralling declension. Stock market regulations and reforms is now under serious challenges as the percentage of indigenous investors has reduced drastically from 19% to less than 14% in the Nigeria Stock Exchange markets. Thus the study recommends more proactive regulations and reforms, potent enough to bring back confidence to investors in this post share crisis periods in Nigeria.
Financial Reporting Standards and Cost of Waters in Corporate Organization
(EJBMR, European Journal of Business and Management Research, 2020-05) Akande, Adesola A.
This paper examined costs of waters and its disclosures propensity in financial statement of corporate organizations with a view to advocate for a suitable reporting standards globally. International Accounting Standard Board has not specifically announced or produced any financial reporting standard in support of reporting cost of waters despite the huge amount of monies that some corporate industries incurred on it. Both primary and secondary data were sourced from six breweries that uses water as one of their major raw materials and analyzed through descriptive statistics techniques of Analysis of Variance (ANOVA) and Simple Percentage Method (SPM). The result revealed that there were significant relationship between earnings and cost incurred on waters by some specialized industries like breweries, juice manufacturers and food processing companies in Nigeria and as such affects the earning potentials of the organization. On the average, water cost showed p-value of (0.04) > (0.05) level of significant in and p-value of (0.18) > (0.05) level of significant when reported differently from environmental costs. The result obtained from (80.1%) of the corporate affair section of six breweries and 65.7% professional accountants judgement from selected districts of the Institute of Chartered Accountants in Nigeria showed that there are urgent needs to provide for a separate standard of reporting such cost especially for specialized industries that uses water as their major input/raw material in their production. The study concludes that reporting cost of waters separately will project the principles of IFRS as prescribed by the board. Thus, the basic principles of human rights, cost standardization, environmental pollution protection and treatment-costs could be accounted for and reported in all the continent of the world. Based on this, the study recommends that accounting standards making bodies need to give cost of waters adequate consideration with allotment of appropriate standards for disclosure and reporting of costs of waters for all corporate organization world-wide to allign uniformity in financial reporting.
Global Economic Crisis Effect on Shareholders Wealth in Agro-Allied Industries in Nigeria
(Sumerianz Publication, 2018) Akande, Adesola A.; Adebayo, Adesola
This paper examined the effect of global economic crisis on shareholders’ wealth through evaluation of price movement in agro-allied industries in Nigeria. Agriculture being the most accepted sustainable source of revenue to Nigeria economy, though under gross neglect since the time of oil boom, is becoming the turning point of action for Nigeria to retain her economic status among the Commonwealth Nations in recent time. Consequent upon this, the trend of movement of share price in this sector need urgent analysis. Selected listed agricultural based company’s share prices were collected through secondary source from April, 2004 to March, 2014. The trend of share price movement were observed for a period of ten years divided into pre-share crisis period (April 2004 to March 2008) and post share crisis period (April 2008 to March 2014). Data were analyzed through Analysis of Variance (ANOVA) and the student’s t-test. The paper revealed that there is a significant relationship between the 2008 global economic crisis and shareholders’ wealth in the agriculture sector of economy in Nigeria as the p value of yearly average share price was (0.000) in the post share crisis period which is lower than (0.05) level of significant record in the pre-crisis period. The paper concluded that the crisis was responsible for the crash in the agro-based share price on the Nigeria Stock Exchange Markets thus rendering investment in the share of this sector unattractive. Based on this, proactive stock market regulation and reforms to strengthen the wealth of investors by regulatory institutions were recommended.
Health Institutions and Corporate Social Responsibility Standard Compliance in Developing Economy
(Sumerianz Journal of Business Management and Marketing,, 2018) Akande, Adesola A.
This paper examined the effect of Corporate Social Responsibility (CSR) and standard compliance of health institutions with the associated recurs in South West Geo – Political Zone of Nigeria, this was with a view to spur all related corporate organization to add value to their operational business environment in developing economy instead of incurring undue penalty cost when agitation ensued. Both primary and secondary data were sourced and analyzed through descriptive statistics techniques of Analysis of Variance (ANOVA) and Simple Percentage Method (SPM). The result revealed that there were significant relationship between CSR and earnings potentials of health institutions in Nigeria. On the average, CSR cost showed p-value of (0.000) > (0.05) level of significant in normal situation and p-value of (0.18) > (0.05) level of significance when crisis occurred. The result obtained from (80.1% indigenes of host community and 65.711% staff of selected hospitals showed that needs of host communities are often neglected until when agitation is staged. Out of six corporate health institutions studied, it was found that benefits derived from voluntarily compliance with the principles of CSR as prescribed by ISO 26000 reduces social costs compared to when crisis results. Basic principles like human rights observation, labour standardization, environmental pollution protection, health education, treatment-cost reduction and harsh treatments avoidance among others factors are the basic CSR costs which a workings corporate health Institutions need to meet up with. Based on this, the study recommends proactive response to all corporate organization to meet the recommended standards on CSR and to adequately evaluate the critical needs of people of the host communities from time to time.
International Financial Reporting Standards’ and Performance of Manufacturing Firms in Nigeria, (2014 -2018)
(International Journal of Scientific Engineering and Science, 2020) Akande, Adesola A.
This study examined the rate at which International Financial Reporting Standards’ disclosure requirements guaranteed performances of Manufacturing industries in South – West Geo-political zone of Nigeria using inferential statistical analysis on selected companies based on the fact that their year of first Publication of financial statement preceded 2012- the IFRS adoption ultimatum date in Nigeria. The result showed that IFRS specific template for manufacturing entities are followed in the preparation and presentation of annual financial reports which culminated to better reporting and improvement on a growing trends of the company’s performance indicators. The compliance have a significant effect on manufacturing companies performances as the P-value of disclosure requirements P = 0.04 greater than P-value of companies performance P= 0.005. This indicates that compliance to IFRS disclosure requirement is a factor that assist listed firms’ performance growth rate since it was established that factors like inadequate trainings (70%), unqualified Account staff (65%) and lack of standard financial reporting templates (72%) were inhibiting factors in the past as compliance rate improves success indicator of the companies also improves in developing economy. Based on the above, the study concluded that IFRS have a significant impact on Performances of manufacturing companies in Nigeria during the studied period.
Management Accountants’ Functions and Control System in Informal Sector’s Business Decisions in Nigeria
(International Journal of Scientific Research and Management, 2015-02) Akande, Adesola A.; Olowe, Sunday O.
This paper examined the effects of Ownership-Controls and Management Accountant(s) functions indecision making process of informal businesses (SMEs) in Osun State of Nigeria. Disparity cases that areoften experienced by Management Accountants on decisions and that of business Owners in informalbusiness sectors – One-man businesses, partnership businesses and other private companies necessitate thisstudy. Many Accountants in the informal business sectors are suffering from a lot of hardships through self - designed decisions usually imposed by business Owners at the expense of information generated throughcalculated parameters on business decisions. The study used both Simple Percentage Method andDescriptive Data Analysis Method (DDAM) to evaluate 10 informal businesses in Osogbo, the capital city ofOsun State of Nigeria. The study revealed that most informal Businesses failed due to the fact that Ownersare always ignoring the advice of Management Accountants in vital business decisions. The paperrecommends proper utilization of MCS principles in line with information supplied by ManagementAccountants in both formal and informal sectors of Nigeria economy so as to aid the function and servicedeliverance potentials and subsequent improvement in SMEs results in Nigeria
Nexus Of Liquidity Management And Corporate Business Failures In Non –Financial Sectors’ A Case Of Nigeria
(EJBMR, European Journal of Business and Management Research, 2019-10) Akande, Adesola A.
management – a key survival strategy of listed companies on the Nigeria Stock Exchange Markets and retrospectively assessed the salient variables on delisted corporate firms in Nigeria. Data were randomly collected from ten companies each from 114 listed and 82 delisted companies on the Nigeria stock exchange market records from January 2016 to 31st December, 2018 - healthy listed companies and 2006 -2008 for delisted records of failed companies. In all, twenty companies were analysed with two-tailed test using a significance level of 0.05 to test the possibility of the relationships, The existence of a positive relationship between liquidity management and profitability of corporate firms in Nigeria were established as the result of the study showed that adequate liquidity management spurs rapid cash growth, effective operating activities and profit making propensity of corporate healthy businesses which invariably were lacking in the delisted companies and resulted into eventual failure. Also, a higher cash flow from operations reduce the chance of a firm growing resulting into eventual liquidation. Cash flow from investing activities is however seen as a factor that exert a positive influence generally on corporate businesses in Nigeria. The study concluded that ill management of business liquidity is the major cause of failure of corporate businesses in developing economy and as such cash flow from operations, investments and financing activities of a firm should be adequately monitored by the company managers, investors, creditors and suppliers and even the government to forestall financial distress of companies in developing economy.

Browsing by Author "Akande, Adesola A."

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