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awww.ccsenet.org/ijbm multinational Journal of Business and Management Vol. 7, No. 3; February 2012 word meaning of International pecuniary inform Standards in Developing Countries: The Case of Nigeria Abdulkadir Madawaki College of Business, Universiti Utara Malaysia Sintok, 06010 Kedah, Malaysia e-mail: abdulkadirmadawaki@yahoo.com Received: September 16, 2011 legitimate: December 15, 2011 Published: February 1, 2012 inside:10.5539/ijbm.v7n3p152 URL: http://dx.doi.org/10.5539/ijbm.v7n3p152 Abstract The arena focused on the toleration process of International fiscal Reporting Standards (IFRS) on a development economy, with particular university extension to Nigeria. The paper is based on the entropy obtained from literature comply and archival sources in the context of the globalization of International Financial Reporting and the espousal of International Financial Reporting Standards (IFRS).Nigeria has embraced IFRS in order to partic ipate in the benefits it offers, including attracting foreign channelise investment, decrement of the cost of doing subscriber line, and cross border listing. In implementing IFRS Nigeria will stage challenges including the development of a legal and regulatory framework, awareness campaign, and developmental activity of personnel.

Recommendations were made to forestall such challenges which include modify education and training, establishment of an independent body to monitor and inflict bill and auditing standards. Keywords: Financial reporting, Adoption, Accounting standard and Developing countries 1. ingress Globalization of jacket market! s is an irreversible process, and there are galore(postnominal) potential benefits to be gained from mutually recognized and respected supranational accounting standards. The adoption of uniform standards cut the costs of doing business across borders by reducing the need for supplementary information. They tiller information more comparable, thereby enhancing evaluation and analysis by users...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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