JOURNAL OF ACCOUNTING AND CONTEMPORARY STUDIES (JACS)
Journal of Accounting and Contemporary Studies (JACS) is an Open Access institutional based peer-reviewed publication that is published by the Department of Accountancy, Faculty of Management Sciences, Ebonyi State University (EBSU), Abakaliki. The journal provides a platform for researchers, academics, professionals, practitioners, and students from around the world to share their knowledge and findings in the field of Accounting and Financial contemporary studies. JACS accepts high-quality, theoretical, Case-studies and empirical original research papers. All submissions are rigorously peer-reviewed by experienced and knowledgeable professionals in the field. The journal is published in both online and print versions triennially (i.e; April, August and December). JACS is a valuable resource for those interested in enriching their knowledge of the accounting and finance fields. Its content is centered on the latest developments and contemporary issues in the accounting field, providing readers with up-to-date information and analysis that can help them make informed decisions. JACS also strives to promote the ethical and responsible use of accounting and financial data and research. The journal is committed to upholding the highest standards of quality, accuracy, and reliability in its content. Scope JACS is an invaluable resource for all those seeking to gain a better understanding of the field of accounting and finance. With its expansive and diverse contents, the journal offers readers an insightful look into the latest developments and Accounting contemporary issues in the field. Authors are encouraged to submit manuscripts in areas of accounting and financial contemporary issues and other related areas that are not limited to: Corporate Reporting Auditing & Investigation Forensic Accounting Management Information System (MIS) Accounting Theory Corporate Governanceand Accounting Ethics Accounting Modeling International Accounting Managerial Accounting Taxation Financial Statement Analysis Mergers and Acquisitions Derivatives Business Valuation Cost Accounting Entrepreneurial Accounting Agri-business Accounting Public Sector Accounting Corporate Social Responsibility Financial Technology (FinTech) International Financial Reporting Standards (IFRS) International Public Sector Accounting Standards (IPSAS) Accounting Education Accounting Law Blockchain and Cryptocurrency Payment Systems Data Analytics in Accounting Vision: To continually remain a leading vital platform for advancing research and nurturing intellectual accounting growth in line with globally accepted standards. Mission: To provide a platform that will engender knowledge sharing and cross-breeding of contemporary Accounting ideas needed for socio-economic development of the society. Editor-in-Chief: Professor Leanard Chukwuma Uguru Department of Accountancy, Faculty of Management Sciences, Ebonyi State University, Abakaliki, Abakalili, Ebonyi State, Nigeria. Phone: +238038618280 Email: uguruleonard@yahoo.co.uk OR The Managing Editor: Dr. Joseph Ogwu Elom Department of Accountancy, Faculty of Management Sciences, Ebonyi State University, Abakaliki, Abakalili, Ebonyi State, Nigeria. Phone number: +2348064494775 Email: joemaxelom@gmail.com
The Department of Accountancy, Faculty of Management Sciences, Ebonyi State University (EBSU), Abakaliki, Nigeria
HOUSEHOLD ACCOUNTING AND FINANCIAL well-being AMONG HOUSEHOLDS IN EBONYI STATE
The study examined effect of household accounting on the financial well-being of households in Ebonyi state. Household budgeting, household emergency fund creation, household cashflow management and household asset management served as the proxy for household accounting. Descriptive survey design was deployed on a population of households in Ebonyi state. A sample size of 246 households was selected using stratified sampling. Structured questionnaire was used in obtaining primary data for the study. The four hypotheses raised were tested using ordinal regression with the aid of EVIEWS 10. It was found that: household budgeting has a positive and significant effect on the financial well-being of households in Ebonyi state (β = 0.546234, p = 0.0056); household emergency fund creation has a positive and significant effect on financial well-being of households in Ebonyi state (β = 2.126290, p = 0.0008); household cash flow management has a positive and significant effect on financial well-being of households in Ebonyi state (β = 3.035102, p = 0.0000); household asset management has a positive and significant effect on financial well-being of households in Ebonyi state (β = 1.290833, p = 0.0145). In conclusion, households that actively engage in structured financial planning and resource allocation experience greater financial stability and security. The study recommends that household heads should consistently adopt and adhere to a structured budgeting system that prioritizes essential expenses, savings, and investments in order to enable them to effectively manage their finances, reduce unnecessary spending, and improve their overall financial well-being
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IMPACT OF BIG DATA ANALYSIS ON ACCOUNTING INFORMATION SYSTEM
The study examined the impact of big data analysis on accounting information system. It was guided by five research questions. A descriptive research design of survey type was used. The population of this study comprised all staff of Commercial Banks in Ijebu-Ode local government area of Ogun State. A total of 50 accountants of Commercial Banks in Ijebu-Ode local government area of Ogun State were selected as sample size of the study using stratified sampling technique. A self-researcher-designed instrument tagged: Big Data Analysis and Accounting Information System Questionnaire (BDAAISQ) with reliability coefficient 0.92 was used for data collection. Regression was used for answering research question 1. Research questions 2 and 4 were answered using PPMC while 3 and 5 were analyzed using mean and standard deviation. The findings of the study indicated that there was positive impact of BDA on AIS in financial reporting (β = .381, t = 4.077, p < .05). There was positive relationship between big data analysis and accounting information system (r = 0.441, p < .05). High cost of BDA tools/software, lack of skilled personnel (data scientist/analysist), data pricing, resistance to change from traditional accounting method and confusion with big data selection were among the challenges and opportunities in adopting BDA for AIS. There was positive relationship between big data analysis and effective decision-making (r = 0.522, p < .05). Allow auditor to analyses 100% improve fraud detection in audit, improve fraud detection in audit, continuous use auditing powered by BDA reduces compliances, enhances risks management in audit, and improved audit quality were among the role of BDA in enhancing audit process. It was recommended that banks/firms should prioritize the management of big data to improve their accounting information. More so, through collaboration, training and complementarities, Banks should ensure successful implementation and adoption of sensor data usage to increase efficiency and effectiveness.
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EARNINGS MANAGEMENT AND FINANCIAL PERFORMANCE OF QUOTED OIL AND GAS COMPANIES IN NIGERIA
This research explored how earnings management impacts Nigerian oil and gas firm’s financial performance from 2005 to 2020. Seven out of the total ten oil and gas firms in Nigeria were selected for analysis. The research employed panel regression and descriptive statistics to evaluate the data. The outcome revealed a favourable connection between earnings management, measured by changes in net income/change in cash flow and discretionary accruals of (7.322, 2.634) and P-values of (0.000, 0.009) <0.05 on return on asset. This concludes that earnings management significantly influences the financial performance of the selected oil and gas companies. The research suggests that transparent financial reporting is crucial, and companies should prioritize sustainable value creation over short-term financial metrics.
EFFECT OF FIRM TRAITS ON THE OPERATING PERFORMANCE OF LISTED CONSUMER GOODS FIRMS IN NIGERIA: 2012-2024
The study examined the effect of firm traits on the operating performance of listed consumer goods firms in nigeria: 2012-2024. The specific objectives were to analyse the effect of firm leverage, firm liquidity, firm size and firm age on operating performance of listed consumer goods firms in Nigeria. Operating performance was measured using asset turnover ratio while the study was underpinned by resource-based view theory. Secondary data for the study were collected from the annual reports. Using an ex-post facto research design, secondary data was extracted from the annual reports and accounts of the sampled firms listed on the Nigerian Exchange Group (NGX) over a thirteen year accounting period which spanned from 2012 to 2024. The data was analyzed using descriptive test, Pearson correlation and panel regression techniques. Findings indicate that firm size and liquidity have a positive and statistically significant effect on operating performance, proxied by asset turnover ratio (ATR). In contrast, firm age demonstrated an insignificant negative relationship with ATR. The study concludes that internal firm traits are significant determinants of performance, even in a challenging macroeconomic environment. Recommendations include that firms should prioritize efficient working capital management to optimize liquidity and pursue strategic growth to achieve economies of scale.
ACCOUNTING SOFTWARE DEPLOYMENT AND CORPORATE PROFITABILITY IN MODERN ERA: EVIDENCE FROM LISTED INDUSTRIAL GOODS FIRMS IN NIGERIA
Abstract: The study examined the effect of accounting software deployment on corporate profitability among listed industrial goods firms in Nigeria. Accounting software deployment was measured using intensity of accounting software while earnings per share served as the proxy for corporate profitability. The study adopted an ex-post facto research design to analyze historical financial data from the selected firms. The population consisted of all twelve industrial goods firms listed on the Nigerian Exchange Group as of December 31, 2024, from which nine firms were purposively sampled based on data availability. Secondary data were collected from the firms’ audited annual reports covering the period 2015 to 2024. The hypothesis was tested using panel estimated Generalized Least Squares regression to account for cross-sectional dependence in the data. The finding revealed that intensity of accounting software deployment has a positive and significant effect on earnings per share (β = 7.846, p = 0.0065). In conclusion, firms that integrate and utilize accounting software more intensively are able to streamline financial processes, reduce errors, and provide more timely and accurate information for decision-making, which translates into improved profitability reflected in higher earnings per share. The study recommended that the management of listed industrial goods firms in Nigeria should more actively invest in and expand the use of advanced accounting software across all financial operations. By doing so, management can ensure more accurate, timely, and efficient financial reporting, which directly contributes to improving profitability.
CORPORATE TAX REVENUES ON GOVERNMENT CAPITAL EXPENDITURES IN NIGERIA
The study examined the effect of corporate taxes on government capital expenditures in Nigeria. The study covered from 2009 - 2023. The specific objectives were to determine the effect of Company Income tax on capital expenditures in Nigeria, to examine the effect of Petroleum profit tax on capital expenditures in Nigeria and to ascertain the effect of National Information Technology development levy on Capital expenditures in Nigeria. The study adopted expost facto research design. The study data were sourced from Central Bank of Nigeria Statistical bulletin and National Beaus of Statistic. The stated model were analyzed with Unit root test, Johansen co-integration analysis for the stated model, Vector error correction mechanism (VECM). The findings revealed that company income tax has positive and nonsignificant effect on capital expenditures in Nigeria. Petroleum profit tax has positive and nonsignificant impact on capital expenditures in Nigeria. National Information Technology development levy has positive and significant effect on capital expenditures in Nigeria. In conclusion, effective utilization of corporate tax revenue can enhance economic growth in the country. It was recommended that government should strengthen the tax administration system to broaden the company income tax and embark on tax education to ensure voluntary tax compliance and also ensure that tax proceed are implement effectively to enhance economic growth in country.
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MANAGEMENT ACCOUNTING INNOVATIONS AND ORGANIZATIONAL COMPETITIVENESS: A CURSORY LOOK
This study examines the link between Management Accounting Innovations (MAIs) and organizational competitiveness in Nigeria, using secondary data from Dangote Cement Plc, GTCO Plc, MTN Nigeria Plc, Nigerian Breweries Plc, and Nestlé Nigeria Plc between 2018–2023. Grounded in Contingency Theory, Resource-Based View, Institutional Theory, and Dynamic Capabilities Theory, it adopts an ex-post facto design with data from annual reports, financial statements, and regulatory publications. Findings show that advanced costing techniques such as activity-based costing, target costing, and life-cycle costing improved accuracy, efficiency, and profitability, though their benefits were constrained by inflation and foreign exchange volatility. Integrated performance systems, especially the Balanced Scorecard, boosted competitiveness by balancing financial and non-financial outcomes, illustrated by GTCO’s reduced cost-to-income ratio and MTN’s subscriber growth. Strategic management accounting practices, including rolling forecasts, beyond budgeting, and competitor analysis, enhanced adaptability and resilience, sustaining market leadership. However, sectoral differences emerged: banks and telecoms led in MAI adoption, while manufacturing firms and SMEs lagged due to cost and expertise limitations.The study concludes that MAIs significantly enhance competitiveness but remain contingent on sectoral and macroeconomic conditions. It recommends wider adoption of innovative systems, SME support, and policies stabilizing the business environment.
IMPACT OF VALUE ADDED TAX (VAT) REVENUE ALLOCATION ON ECONOMIC GROWTH IN NIGERIA (2004-2024)
The study examined the impact of Value Added Tax (VAT) revenue allocation on economic growth in Nigeria. It specifically examined the impact of federal government’s, state governments’ and local governments’ VAT revenue allocation on economic growth in Nigeria spanning from the periods of 2004 to 2024. The study adopted the ex-post facto research design thereby making use of secondary data which were collected from the Central Bank of Nigeria (CBN) Statistical Bulletin and the Federation Account Allocation Committee (FAAC) Reports for the periods studied. The characteristics of data collected were analysed with descriptive statistics test and correlation test while multiple regression analysis anchored on the Ordinary Least Square (OLS) model was used to test the hypotheses formulated for the study with the aid of E-View 10 Version. The findings of the study revealed that there is a non-significant negative impact of federal government share and state governments’ share of the VAT revenue allocation on economic growth in Nigeria while local government share of VAT revenue has a non-significant positive impact on economic growth in Nigeria. This implies that revenue from VAT has not effectively transformed into any tangible improvements in the economic growth of the country. It is therefore concluded that increase in VAT revenue allocations does not guarantee improved economic well-being of the country. It was recommended among others that the federal government should channel the allocated revenue to infrastructural network to encourage individual to engage in economic activities in order to boost the economic growth of the country.
CREATIVE ACCOUNTING, STAKEHOLDER TRUST AND OPERATIONAL PERFORMANCE OF SELECTED DEPOSIT MONEY BANKS IN NIGERIA
This study investigates the relationship between creative accounting, stakeholder trust, and operational performance in selected Deposit Money Banks (DMBs) in Nigeria. Motivated by concerns over manipulative reporting practices and their implications for confidence and efficiency, the research was anchored on stakeholder theory and employed a descriptive–explanatory design. A purposive sampling technique yielded 300 respondents as the sample sizefrom selected Deposit Money Banks in Nigeria. Data were collected using structured questionnaires measured on a five-point Likert scale and analyzed with descriptive statistics, Pearson correlation, multiple regression, and mediation analysis. Findings revealed moderate engagement in creative accounting (Mean = 3.62) alongside relatively high stakeholder trust (Mean = 3.85) and operational performance (Mean = 3.91). Regression results indicated that creative accounting negatively influences operational performance (β = –0.28, p < 0.01) and stakeholder trust (β = –0.41, p < 0.01), while stakeholder trust showed a strong positive effect on operational performance (β = 0.53, p < 0.01). Mediation analysis confirmed that stakeholder trust partially offsets the adverse impact of creative accounting on performance, underscoring its stabilizing role. The study concludes that while creative accounting persists in Nigerian banks, robust governance structures and stakeholder confidence help sustain operational outcomes. It contributes empirical evidence to the accounting literature and recommends stronger regulatory oversight, ethical financial reporting, enhanced transparency, and active stakeholder engagement as strategies to safeguard performance in the banking sector.
EFFECTS OF CASHLESS TRANSACTIONS ON THE FINANCIAL PERFORMANCE OF DEPOSIT MONEY BANKS IN NIGERIA (2010-2023)
This study examined the effect of cashless transactions on the financial performance of Deposit Money Banks in Nigeria. Specifically, the study sought to determine the effect of automated teller machine, point of sale terminals, internet banking (e-banking) and mobile banking transactions outlets on the financial performance of Deposit Money Banks in Nigeria. The study adopted Ex-post facto research design while data generated from the Central Bank of Nigeria statistical Bulletin and individual bank annual reports for the period 2010-2023 were analyzed using Generalized Method of Moments technique for panel data analysis. The study found that automated teller machine (ATM) transaction has positive and significant effect on the financial performance of Deposit Money Banks in Nigeria, point of sale cashless transaction was found to have positive and significant effect on the financial performance of Deposit Money Banks in Nigeria, internet banking cashless transaction was revealed to have positive and significant effect on the financial performance of Deposit Money Banks in Nigeria and mobile banking cashless transaction outlets had no significant effect on financial performance of Deposit Money Banks in Nigeria. The implications of significant and positive effects of automated teller machine outlets, point of sale terminals and internet banking is that the cashless policy is effective in promoting bank profitability and operational efficiency. The no significant effect of mobile banking highlights a need for policy intervention to address the specific challenges facing this channel. The study concluded that automated teller machine transactions, point of sale terminals and internet banking are significant drivers of profitability, primarily through cost reduction and increased non-interest income. The study recommended that banks should continue to strategically deploy ATMs, especially in high-traffic commercial areas, residential hubs and underserved regions, to maximize transaction volume and fee-based income; policymakers should introduce incentives, such as tax breaks or subsidies, for banks and merchants to deploy more POS terminals and for banks to enhance their internet banking platforms, the government in collaboration with telecommunication companies, should prioritize investments in improving internet infrastructure and network stability and the Central Bank of Nigeria should create a more supportive regulatory framework to address the challenges of mobile banking.
LEVERAGING MANAGEMENT ACCOUNTING TOOLS FOR STRATEGIC DECISION-MAKING AMONG SMALL AND MEDIUM SCALE ENTERPRISES (SMES) IN NIGERIA
This study examined the use of management accounting tools (MATs) for strategic decision-making among Small and Medium Enterprises (SMEs) in Nigeria, with particular objectives on their extent of use, impact on performance, and the inhibiting factors limiting adoption. Guided by the Saunders research onion, a positivist philosophy and deductive approach were employed, using a cross-sectional survey design. Data analysis involved descriptive and inferential statistics via SPSS. The result is as follows: for Hypothesis 1, results indicated significant adoption of certain MATs, with high usage of strategic costing (M = 4.09, SD = 0.42, t(99) = 25.95, p < .001) and strategic investment (M = 4.17, SD = 0.44, t(99) = 26.45, p < .001), while competitor accounting (M = 2.90, SD = 0.35) and customer accounting (M = 3.01, SD = 0.41) were only moderately applied. Hypothesis 2 revealed a positive and significant effect of SMA on SME performance, with cash management practices strongly influencing ROI (β = 2.33, t(99) = 8.16, p < .001) and inventory management also significant (β = 0.42, t(99) = 2.43, p = .020), though overhead cost management was not significant (β = 0.07, p = .725). For Hypothesis 3, barriers such as lack of top management support (M = 3.32, SD = 1.44) and shortage of qualified personnel (M = 3.24, SD = 1.42) emerged as critical inhibitors. The study concluded that MATs significantly enhance strategic decision-making and performance in SMEs, though adoption is constrained by organizational and resource limitations. It is recommended that SMEs invest in capacity building for management accounting, government provide supportive policies and training initiatives, and SME leaders foster stronger top-management commitment to MAT usage.
MANAGEMENT ACCOUNTING PRACTICES AS CATALYSTS FOR STRATEGIC DECISION-MAKING AND SUSTAINABILITY IN THE OIL AND GAS SECTOR
This study investigates the role of Management Accounting Practices (MAPs) as catalysts for strategic decision-making and sustainability performance in the Nigerian oil and gas sector. Despite the sector’s major contribution to GDP and government revenues, it faces volatility, environmental concerns, and rising pressure for sustainability adoption. A descriptive survey research design was employed, targeting management accountants, financial managers, and sustainability officers in ten listed firms. Data from 150 purposively selected respondents were analyzed using SPSS and EViews. Reliability analysis confirmed internal consistency (Cronbach’s α = .84). Regression results showed that MAPs significantly influenced both strategic decision-making (β = .62, p < .001) and sustainability performance (β = .57, p < .001). Disaggregated analysis revealed that contemporary MAPs—such as environmental management accounting, balanced scorecards, and integrated reporting—had stronger predictive effects on sustainability outcomes (β = .71, p < .001) than traditional tools like budgeting and variance analysis (β = .29, p > .05). Respondents identified barriers to sustainability-focused MAPs, including inadequate expertise, high costs, resistance to change, and short-term profit orientation. The findings underscore the importance of MAPs in integrating financial, environmental, and social dimensions into corporate strategy, thereby enhancing accountability and resilience. The study concludes that wider adoption of contemporary MAPs can provide Nigerian oil and gas firms with competitive advantage, transparency, and alignment with global sustainability frameworks. It recommends investment in capacity building, supportive policies, and organizational reforms to overcome implementation barriers and foster long-term value creation.
EFFECT OF FINANCIAL EFFICIENCY ON FOREIGN INVESTMENT FLOWS IN NIGERIA
This study empirically investigated the effect of financial efficiency on foreign investment flows in Nigeria from the first quarter of 2012 to the fourth quarter of 2023. Employing an ex post facto research design and the Auto-regressive Distributed Lag (ARDL) model, the analysis utilized quarterly data obtained from the Central Bank of Nigeria and the World Bank to assess both short-run and long-run relationships between financial efficiency and foreign investment flows comprising foreign direct investment (FDI), foreign portfolio investment (FPI), and total foreign investment (TFI). The findings revealed that financial efficiency had a significant and positive impact on FDI and total foreign investment inflows, indicating that a more efficient financial system attracts long-term and stable capital. However, financial efficiency exhibited no significant effect on portfolio inflows, underscoring the sensitivity of speculative capital to short-term macroeconomic fluctuations. Furthermore, the results indicated that exchange rate depreciation attracted portfolio and total inflows, while inflation consistently discouraged all categories of foreign investment. The study concluded that enhancing financial efficiency is vital for bolstering investor confidence and sustaining long-term foreign investment. Consequently, it recommends that policymakers strengthen financial intermediation efficiency through reduced interest rate spreads, increased banking sector competition, and FinTech integration, while maintaining macroeconomic stability by curbing inflation and exchange rate volatility to foster a resilient and investment-friendly environment in Nigeria. Keywords: financial efficiency, foreign investment, ARDL, macroeconomic stability
REVISITING RESPONSIBILITY ACCOUNTING AS A PERFORMANCE CONTROL FRAMEWORK IN DECENTRALIZED ORGANIZATIONS: AN EMPIRICAL PERSPECTIVE
This study revisited responsibility accounting as a performance control framework in decentralized organizations, focusing on its application in cost centres, profit centres, and investment centres, with the aim of determining how accountability mechanisms influence organizational performance. Relying on secondary data from Nigerian firms, the analysis drew from 97 firms, applying ex-post facto and survey designs supported by regression models, panel data methods, ANOVA, and descriptive statistics. Findings revealed that in cost centres, responsibility accounting significantly improved productivity, with organizational control exerting a positive effect on performance (β = 54.62, p < 0.001), explaining 13.9 percent of the variance. In profit centres, the impact was stronger, with responsibility accounting accounting for 72.4 percent of profitability outcomes. Cost of sales negatively influenced performance (β = –0.72, p < 0.001), while operating cost contributed positively (β = 0.58, p < 0.001), underscoring the role of balanced cost management in driving profitability. In investment centres, survey results showed consistently high managerial agreement on the relevance of responsibility accounting, with mean scores above 4.0 on a five-point scale across dimensions such as organizational structure (M = 4.13, SD = 0.53), responsibility power (M = 4.08, SD = 0.57), budgetary control (M = 4.08, SD = 0.52), performance reporting (M = 4.05, SD = 0.53), and reward systems (M = 4.04, SD = 0.59), all of which strongly influenced corporate investment decisions. The study concluded that responsibility accounting plays a vital role in strengthening performance control by aligning accountability with strategic objectives, ensuring efficiency in cost centres, profitability in profit centres, and sound investment decisions in investment centres. It recommends empowering cost centre managers with clearer accountability frameworks, strengthening reporting systems in profit centres, and adopting robust budgetary and reward mechanisms in investment centres to enhance sustainable organizational performance.
TREASURY SINGLE ACCOUNT (TSA) AND NIGERIA’S ECONOMIC JOURNEY: A CRITIQUE
This study, treasury single account and Nigeria’s economic Journey: A critique, evaluates the conceptual and operational framework of Treasury Single Account in Nigeria, reviewed empirical and outlined both the benefits and problems hindering the success of treasury single account in Nigeria after more than a decade of its full implementation in Nigeria, highlighted the criticism and among other things recommends that treasury single account should be adopted by all the levels of the governments, the federal, state and local government, that they should be independent monitoring bodies to check progress and application in order to achieve its core objectives especially transparency, accountability and improved revenue collection, as well as display of political will by the political leaders, and punishment for agencies and chief executive officers of government institutions who have refused to implement treasury single account.
IMPACT OF FEDERAL GOVERNMENT AGGREGATE EXPENDITURE ON ECONOMIC GROWTH IN NIGERIA (2000-2022)
The study examined the impact of public expenditure on economic growth in Nigeria. Specifically, the study sought to determine health, road infrastructure and government recurrent expenditure on economic growth in Nigeria. The study adopted ex-post facto research design and time series data were obtained from the Central Bank of Nigeria statistical Bulletin for the period of 23 years, spanning from 2000-2022. The study employed descriptive statistics to determine the individual characteristics of the model variables. Multiple linear regression model anchored on ordinary least technique was used to estimate the impact of public expenditure components on the dependent variable. Findings from the regression analysis revealed that expenditure on education infrastructure, health infrastructure and road infrastructure had positive and significant impact on economic growth in Nigeria. However, the study also discovered that government recurrent expenditure had positive and no significant impact on the growth of the Nigerian economy. The implication of these findings is that fund expended on capital expenditure has improved the economy more than the recurrent expenditure. The study therefore concluded that components of public expenditure employed in this study has significantly influenced economic growth in Nigeria. The study therefore recommended that government should judiciously manage recurrent expenditure by blocking its leakages go as to boost the nations production base and promote economic growth of Nigeria.
AUDIT COMMITTEE ATTRIBUTES AND SUSTAINABILITY REPORTING DISCLOSURES OF MULTINATIONAL MANUFACTURING COMPANIES IN NIGERIA: EMPIRICAL EVIDENCE FROM FMOLS AND DOLS
In today’s business’s landscape, a debatable concern is increasing on the influence of the audit committee attributes on sustainability reporting disclosures. To this extent, the study aims to assess the effect of audit committee attributes on sustainability reporting disclosures of listed multinational manufacturing companies. The ex post facto research design is adopted. The study’s population comprises 15 listed multinational manufacturing companies on the Nigerian Exchange Group as of December 2022. Ten (10) samples of listed multinational manufacturing companies were purposively selected for the period of 5 years (2018-2022). Secondary data was obtained from the audited and published annual reports. Descriptive statistics, fully modified ordinary least square, and dynamic ordinary least square techniques were the data analytic techniques used. The study shows that audit committee size, audit committee independence, audit committee financial expertise, and audit committee diversity have a positive and significant effect on sustainability reporting disclosures. Also, the audit committee meeting has a positive but insignificant effect on sustainability reporting disclosures. The composite index of audit committee attributes has a positive and statistically significant effect on the sustainability reporting disclosures of listed multinational manufacturing companies. The study concluded that audit committee attributes except audit committee meeting have a positive and significant effect on sustainability reporting disclosures of listed multinational manufacturing companies in Nigeria. The study recommends the adoption of all attributes of an audit committee as a corporate governance mechanism in multinational manufacturing companies.
IMPACT OF DIGITAL INNOVATIONS ON ACCOUNTING PRACTICES IN SMART CITIES INITIATIVES: EVIDENCE FROM NIGERIA
The landscape of accounting practices has transformed with the adoption of digital technologies, particularly within the context of smart city development. This study was motivated by the growing recognition that Nigeria’s transition toward smart cities requires transparent, data-driven, and technology- enabled accounting systems to achieve sustainable goals. Despite the global awareness about the digital transformation and adoption, the integration of digital innovations into Nigeria’s accounting system remains limited, which constraints effective financial reporting and sustainable urban management. This study examined the impact of digital innovations on accounting practices in Nigeria’s smart city initiatives. A mixed method approach was employed combining quantitative data and qualitative data. Primary data were collected through structured questionnaires administered to accountants, auditors and officials in selected Nigeria cities; Lagos, Abuja, Port Harcourt, Kano, Ibadan and Enugu. Data were analyzed using descriptive statistics and correlation analysis for the quantitative component, and thematic analysis for the qualitative component. Findings revealed a moderate but low institutional adoption of digital innovations such as artificial intelligence (AI), blockchain and big data analysis in accounting practices. This study thus concludes that digital innovations hold significant potential to strengthen accounting practices, improve sustainability reporting and promote good governance in Nigeria’s emerging smart cities. It is recommended that ministries, departments and agencies (MDAs) involved in smart city projects should prioritize digital readiness by investing in ICT infrastructure and developing policies that support digital transformation in accounting practices.
MODERATING EFFECT OF PUBLIC DEBT ON THE RELATIONSHIP BETWEEN GOVERNANCE EXPENDITURE AND ECONOMIC GROWTH IN NIGERIA
The effectiveness of government expenditure in promoting economic growth in Nigeria was increasingly complicated by rising levels of public debt, which raised concerns about fiscal sustainability and the actual impact of debt-financed public spending on economic outcomes. The study examined the moderating effect of public debt on the relationship between governance expenditure and economic growth in Nigeria. The study employed an ex-post facto research design and utilized secondary data sourced from the Central Bank of Nigeria Statistical Bulletin covering the period from 1985 to 2024, comprising 40 observations. Autoregressive Distributed Lag (ARDL) model was employed for data analysis. The study found that total government expenditure has a positive and significant effect on economic growth in both the short-run and long-run, while public debt alone showed no significant direct effect on growth; however, public debt significantly and negatively moderated the relationship between total government expenditure and economic growth. It was recommended that the Nigerian government maintain public debt within sustainable thresholds to preserve the effectiveness of fiscal policy, and that government spending be redirected toward high-multiplier capital investments in infrastructure, health, and education.
MODERATING EFFECT OF FIRM SIZE ON THE RELATIONSHIP OF DENVIRONMENTAL COST AND FINANCIAL PERFORMANCE OF LISTED CONSUMER GOODS FIRMS IN NIGERIA
The nexus between environmental cost and financial performance have remained contentious among scholars and practitioners, particularly in Nigeria's consumer goods sector, where prior studies focused predominantly on oil and gas industries with distinct environmental dynamics, overlooked firm size as a moderating variable, and employed methodological flawed designs that undermined the applicability of findings to consumer goods firms. The study examined the moderating effect of firm size on the relationship between environmental cost and financial performance of listed consumer goods firms in Nigeria, anchored on the Resource-Based View (RBV). The study adopted an ex-post facto research design with a population of 21 listed consumer goods firms on the Nigeria Exchange Group, from which 13 firms were selected as sample using purposive and judgmental sampling techniques. Secondary data were extracted from the annual reports of sampled firms covering a fourteen-year period from 2011 to 2024. Data were analyzed using panel regression model with the aid of E-Views 10 statistical software. Findings revealed that community development cost had a positive and significant effect on return on capital employed, while waste management cost exerted a negative and significant effect on return on capital employed. Firm size alone was insignificant, but the interaction terms confirmed that it significantly moderated both relationships. It was recommended that consumer goods firms should strategically intensify community development expenditures to enhance financial performance and adopt cost-efficient waste management technologies to prevent profitability erosion.
EFFECT OF AUDIT FIRM ATTRIBUTES ON FINANCIAL REPORTING QUALITY OF LISTED DEPORSIT MONEY BANKS IN NIGERIA MODERATED BY AUDIT COMMITTEE FINANCIAL EXPERTISE
The persistent challenge of ensuring high-quality financial reporting in Nigeria banking sector, compounded by information asymmetries and complex fair value measurements, necessitated this investigation into how audit committee financial expertise moderated the relationship between audit firm attributes and financial reporting quality. The study examined the effect of audit firm attributes on financial reporting quality of listed deposit money banks in Nigeria moderated by audit committee financial expertise. The study was anchored on agency theory. An ex-post facto research design was employed, with the population comprising fourteen quoted deposit money banks on the Nigerian Exchange Group as at December 31st, 2024. Thirteen (13) banks were sampled using purposive and judgmental sampling techniques, and secondary data were gathered from audited annual reports spanning eleven years from 2014 to 2024. Panel data regression techniques were applied using EViews 10 statistical software. Findings revealed that audit fees and auditor industry specialization have a negative and significant effects on financial reporting quality. However, audit committee financial expertise significantly moderated the audit fee-reporting quality relationship, while its interaction with auditor industry specialization remained insignificant. The study concluded that audit committee financial expertise served as a crucial governance mechanism conditioning the effectiveness of audit firm attributes, particularly enhancing cost-based audit quality mechanisms. The study recommended among others that regulatory authorities should strengthen audit committee composition requirements by mandating higher proportions of financially qualified members, and that banks should strategically align audit firm selection with audit committee capabilities while prioritizing audit fee investments when committees possessed strong financial expertise.
EFFECT OF ENVIRONMENTAL COST AND LIABILITY RECOGNITION ON FINANCIAL REPORTING QUALITY OF LISTED DEPOSIT MONEY BANKS IN NIGERIA
This study examined the effect of environmental cost and liability recognition on the financial reporting quality of listed deposit money banks in Nigeria. Specifically, it investigated how environmental cost recognition quality and environmental liability recognition and measurement influenced the reliability, transparency, and sustainability of reported earnings. The study employed an ex post facto research design, using panel data from fourteen listed banks over the ten-year period 2015–2024. A census sampling technique was adopted, and data were extracted from annual reports and financial statements. The analysis was conducted using descriptive statistics, correlation analysis, variance inflation factor, Breusch-Pagan heteroskedasticity test, Hausman specification test, and fixed effect regression modelling. Findings revealed that both environmental cost recognition and environmental liability recognition exerted positive and statistically significant effects on financial reporting quality. The results indicated that systematic recognition of environmental costs and accurate measurement of environmental obligations enhanced accrual quality, earnings persistence, and balance sheet integrity. The study concluded that environmental recognition is a key determinant of financial reporting quality and recommended that banks institutionalise robust frameworks for environmental cost and liability recognition, supported by regulatory guidance and auditor verification, to strengthen reporting reliability.
EFFECT OF BOARD ATTRIBUTES ON EARNINGS MANAGEMENT OF LISTED CONSUMER GOODS COMPANIES IN NIGERIA
This study investigates the effect of board attributes on earnings management within the unique institutional context of Nigeria’s listed consumer goods sector. Grounded in Agency Theory, the research examines how four key board characteristics Board Size, Board Independence, Gender Diversity, and Financial Expertise influence the level of discretionary accruals, which serve as the primary proxy for earnings management. Utilizing an ex-post facto research design, secondary data were collected from the annual reports of 15 listed consumer goods firms over a ten-year period (2013–2022), resulting in 150 firm-year observations. A census sampling method was employed due to the manageable population size, and the data were analyzed using a Random Effects panel regression model, following diagnostic tests that confirmed homoscedasticity and the appropriateness of the random effects estimator. The findings reveal a complex and counterintuitive governance landscape. Contrary to conventional agency theory predictions, Board Independence and Board Financial Expertise exhibit significant positive relationships with earnings management, Conversely, Gender Diversity demonstrates a strong, significant negative relationship, Board Size was found to have no statistically significant effect. The study concludes that the efficacy of corporate governance mechanisms is highly context dependent. In Nigeria’s emerging market environment, demographic attributes like gender diversity prove more effective in safeguarding financial reporting integrity than traditional structural metrics like independence and financial expertise, which may be subject to tokenistic compliance or misaligned incentives. It recommends that regulators and firms move beyond box-ticking compliance to foster substantive board quality and diversity, and it calls for further qualitative inquiry into the boardroom dynamics that underlie these quantitative relationships.
EFFECT OF DEBT FINANCING AND EQUITY FINANCING ON FIRM VALUE OF QUOTED MANUFACTURING COMPANIES IN NIGERIA
This study examined the effect of debt financing and equity financing on firm value of quoted manufacturing companies in Nigeria. The objective was to determine how capital structure choices debt financing and equity financing affect firm value. An ex post facto research design was adopted, utilising panel data from thirty-five manufacturing companies listed on the Nigerian Exchange Group over the period 2014 to 2023. Descriptive statistics, correlation analysis, Hausman specification test, variance inflation factor, Breusch-Pagan heteroskedasticity test, and fixed effects regression analysis were employed to test the hypotheses. The findings revealed that debt financing had a significant negative effect on firm value (β = -0.73, p = 0.002), while equity financing positively influenced firm value (β = 0.86, p = 0.000). The Hausman test confirmed the appropriateness of the fixed effects model, and no evidence of multicollinearity or heteroskedasticity was detected. The study concluded that capital structure composition materially affects firm value, with equity enhancing and debt diminishing market valuation. It recommended that managers prioritise equity financing and implement governance mechanisms to optimise firm value.