KOGI STATE
Faculty of Management Sciences
Journal of MANAGEMENT
ISSN: 3212 - 3122
ACCOUNTING AND ECONOMIC DEVELOPMENT IN NIGERIA
Adeoye Amuda Afolabi PhD.
Abstract
There is a nexus between accounting and the economic development; as a result the pertinent research question is that to what extent is the role accounting plays in enhancing accountability and improving economy in Nigeria. This paper uses conceptual analysis to explore the role of accounting in national economic development in Nigeria. The study reveals that economic planning and control, capital formation, taxation, capacity building, accounting standards and social welfare are the important areas where accounting information is of a particular importance to the national economy development of Nigeria. Moreover, the paper concludes that accounting plays an immense role in the provision of transparent and quality information through financial reporting to government, the national economy planners and other economy regulators for use in making best economy decision for the development of Nigeria. We recommend that government should enforce the adoption of the International Accounting and Financial Reporting Standards by all private companies to aid transparency and quality of financial disclosure.
Keywords
Accounting, Development of Nigeria, economic planning, financial reporting
Full Article
UNIVERSITY, ANYIGBA
