Impact of Fair Value Accounting on Biological Assets in Agricultural Sector in Nigeria
International Journal of Finance and Banking Research
Volume 5, Issue 4, August 2019, Pages: 64-70
Received: May 30, 2019;
Accepted: Jul. 17, 2019;
Published: Aug. 5, 2019
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Ubesie Madubuko Cyril, Department of Accountancy, Faculty of Management Sciences, Enugu State University of Science and Technology (ESUT), Enugu, Nigeria
Nnajieze Ifeyinwa Elizabeth, Department of Accountancy, Faculty of Management Sciences, Enugu State University of Science and Technology (ESUT), Enugu, Nigeria
Mbah Chris Chukwuemeka, Department of Marketing, Faculty of Management Sciences, Enugu State University of Science and Technology (ESUT), Enugu, Nigeria
This study critically reviewed the impact of fair value accounting on biological assets of Nigerian agricultural sector with a focus on Okomu Oil Palm Company Plcfor the period of 2009-2018. The study adopted ex-post facto research design. Analytical techniques employed were descriptive statistics and Ordinary Least Squares (OLS) multiple regression analysis. Findings revealed that fair value accounting operationalized by non-current asset, profit after tax, and current assets have insignificant positive effect on the biological assets of the Nigerian Agricultural firms. The implication is that the company reports gain in their biological assets when the fair values of their assets increases. Based on these findings, it was recommended among others that there is need for agricultural firms to adopt the fair value accounting system in other to keep proper records of its biological assets.
Ubesie Madubuko Cyril,
Nnajieze Ifeyinwa Elizabeth,
Mbah Chris Chukwuemeka,
Impact of Fair Value Accounting on Biological Assets in Agricultural Sector in Nigeria, International Journal of Finance and Banking Research.
Vol. 5, No. 4,
2019, pp. 64-70.
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