The Effect Of Creative Accounting On The Job Performance Of Accountants (Auditors) In Reporting Financial Statement In Nigeria (A Case Study Of Nigerian Stock Exchange, Kaduna Branch)

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The Effect Of Creative Accounting On The Job Performance Of Accountants (Auditors) In Reporting Financial Statement In Nigeria (A Case Study Of Nigerian Stock Exchange, Kaduna Branch)

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PROJECT TOPIC AND MATERIAL ON THE EFFECT OF CREATIVE ACCOUNTING ON THE JOB PERFORMANCE OF ACCOUNTANTS (AUDITORS) IN REPORTING FINANCIAL STATEMENT IN NIGERIA (A CASE STUDY OF NIGERIAN STOCK EXCHANGE, KADUNA BRANCH)

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  • Name: The Effect Of Creative Accounting On The Job Performance Of Accountants (Auditors) In Reporting Financial Statement In Nigeria (A Case Study Of Nigerian Stock Exchange, Kaduna Branch)
  • Type: PDF and MS Word (DOC)
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  • Length: [56] Pages

 

 

CHAPTER ONE

1.0     Introduction

Creative accounting also known as aggressive accounting is the process that deals with matters of accounting appraisal, conflicts items and events. This flexibility gives room for manipulation, deceit and misrepresentation. Hence, the accountants use their knowledge of accounting rules to manipulate the figures reported in the accounts of a business.

1.1     Background to the Study

Creative accounting means different things to different people. According to Amat  Blake and Dowds (1999), four authors in the U.K explored creative accounting from a different perspective (including business journalist, accountant, an investment analysis and academic view). According to the authors:

  1. A business journalist – Griffiths (1986) observes that every company in the country is fiddling its profits. Every set of published accounts is based on books which have been gently cooked or completed roasted. The figures which are fed twice a year to the investing public have all been changed in order to protect the guilt. It is the biggest con trick since the Trojan horse…  In fact, this deception is all in perfectly good taste. It is totally legitimate. It is creative accounting.
  2. Accountant – Michael (1988) argues that creative accounting is the accounting process consists of dealing with many matters of judgment and of resolving conflicts between competing approaches to the presentation of the results of financial events and transactions. This flexibility provides opportunities for manipulation, deceit and misrepresentation. These activities-practiced by the less scrupulous elements of the accounting profession.
  3. An investment analysis Smith (1992) reports that we felt that much of the apparent growth in profits which had occurred in the 1980s was the result of accounting sleight of band rather than genuine economic growth.

1.2     Statement of the Problem

Creative accounting and earning management are euphemisms for accounting practices that tend to circumvent, albeit, cleverly, or manipulate the rules of standard accounting practices or the spirit of those values (Barnea, Chamberlain and Marlinton, 1976). They are characterized by dubious complications and use of ‘novel’ ways of presenting income, assets or liabilities.

There are many reports of price manipulation, profit overstatement, and accounts falsification by some dubious stewards which rendered the financial reporting ineffective. The business failures of the past decade however have been closely associated with corporate governance failure which involves a number of parties, management, board of directors, auditors and some investors (Ezeani, 2010).

Most business organizations have always been connected with fraud and have always been affected by financial collapses. Recently, accounting scandals like Enran, World Com, Parmalat, Tyco, etc. have cost not only billions of dollars to the stakeholders but also have damaged the accounting profession as a result of financial miss-representation.

Most of the standards sets for the accounting (Audit) report have been eroded. According to Osisioma and Enahoro (2006), accounting processes and choice of policies resulting from many judgments at the same time are capable of manipulation, which have resulted in creative accounting. The differences which are observed in financial reporting are legitimately prepared from choice of varied accounting policies of the same organization for the same period, has brought about challenges of credibility to accounting (finically statements and reporting).

It is upon this backdrop that the study intends to find out whether the practices of creative accounting affected financial reporting in Nigeria.

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