ACCOUNTING PRACTICES

This study examined the adoption and implication of digitalization on accounting practices in Nigeria. This study made use of a casual comparative research design, this design was employed to aid the investigation and survey analysis of this study variables which are ex post facto in comparing the variables. The data analysis involved the use of frequency, percentage, descriptive statistics, and simple linear regression to examine the data and assess the hypotheses. The significance level considered was set at 5%. Additionally, Cronbach's Alpha statistics were applied to evaluate the data's reliability for this research. Findings from the study revealed that audit purchase (AP) was found to produce an increase output result with digitalization having a positive impact of 0.023 (23%) and 0.000 P-value proving it to be statistically significant at 0.005 (95%), tax services performance was found to have an increasement of 17.1% when digitalization is adopted showing that digitalization has a significant impact at 0.000 confidence interval when measuring at 5%, digitalization was also found to help in promoting efficiency in financial advisory performance with the test showing an improved (26.6%) and 0.000 P-value proving it to have a significant effect at 5% confidence level, and efficiency, accountability and compliance in accounting practices which is one of the fundamental aims of accounting profession was found to improve with digitalization with 89.4% percent and 0.000 P-value. This shown a positive and significant impact of digitalization on this variable. The study recommended that since digitalization has a significant impact on audit purchase, digitalization should be given more merit and emphasis by organization to promote more of electronical sales and purchase records, sales and purchase software and template should be put in place by accounting bodies to promote use of digital keeping of invoices, receipt and most especially digital stock valuation to help improve automatic calculating audit purchases tool, and tax service performance which in past 10 years have been a supportive economy driven tools for government revenue creation. There has been different introduction of tools by government in improving tax administrative service performance and promoting tax payer’s compliance. Since the finding shows that digitalization has a positive impact on improving tax services performance government should tend to input more digital tools into their tax tools in promoting the administrative performance.

This study examined the Effect of Accounting Practices on the Financial Performance of Small and Medium Scale Enterprises (SMEs) in Nigeria. The research focused on how key accounting concepts – internal controls, financial reporting, budgeting practices, and role of support – influence the sustainability, profitability, and the overall performance of SMEs. A structured questionnaire was administered to SME owners and operators, across various sectors. Data collected was analyzed to determine the relationship between accounting practices and financial performance. The findings revealed that strong internal control systems significantly improve operational efficiency, reduce fraud, and also ensure compliance with financial procedures. Financial reporting, when timely and accurate, enhances transparency, helps in the process of decision making, and builds investor confidence in SMEs. Furthermore, Budgeting was found to play a vital role in planning, and evaluation of performance, aiding SMEs manage limited resources more effectively and efficiently. Additionally, the study highlighted the critical role of government support in shaping SME performance through tax incentives or holidays, access to credit, and mandatory adoption of basic financial reporting standards. It also concluded that SMEs with sound accounting practices are better positioned to achieve financial stability, attract invetors, and also contribute meaningfully to the country’s economic growth.

Objective- This study focused on unethical accounting practices and their impact on financial reporting quality in Nigeria. It specifically examined the roles of institutions and regulatory bodies in addressing these issues. Geographically, our sample was drawn from Nigeria.The paper tested the hypothesis that there are no significant factors contributing to the persistence of unethical accounting practices among accountants and auditors, regulatory bodies do not face substantial challenges that hinder their ability to enforce ethical standards and address misconduct in financial reporting, and unethical accounting practices do not negatively impact the quality of financial reporting and diminish investor confidence in the Nigerian financial system. Methodology - For this study, the population comprised 154 staff of accounting departments and audit units of quoted companies in Nigeria. To choose the sampled companies in Nigeria,the Simple Random Sampling technique was adopted in this study. The research instrument used for this study is the questionnaire administered to accounting professionals, auditors, financial regulators, company executives, key officials from regulatory bodies and industry experts. The response to each of the question in Section B was based on the five-point likert scale and denoted as 1- Strongly Agree; 2- Agree; 3- Undecided; 4- Disagree; 5- Strongly Disagree. The data collected were analysed using both descriptive and inferential statistics. In addition, the hypotheses of the research have been tested using EViews student version 12 through ENTER for data analysis. Findings - The results revealed a significant negative relationship between variables. Research limits - Data used for this study need to be subjected to more statistical tests in order to establish a more robust validity and reliability. It is necessary to acquire further strengthened data and assume a variety of conditional situations. It is expected that subsequent studies can use larger samples and diversified by sector, a broader geographic base and a multi-faceted analysis. Practical implications- The study underscored the need for policymakers to prioritize ethical governance in the financial sector. Strengthening the regulatory framework and promoting ethical practices can enhance financial stability and investor confidence.