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GAAP</title> <meta name="description" content="Search results for: UK GAAP"> <meta name="keywords" content="UK GAAP"> <meta name="viewport" content="width=device-width, initial-scale=1, minimum-scale=1, maximum-scale=1, user-scalable=no"> <meta charset="utf-8"> <link href="https://cdn.waset.org/favicon.ico" type="image/x-icon" rel="shortcut icon"> <link href="https://cdn.waset.org/static/plugins/bootstrap-4.2.1/css/bootstrap.min.css" rel="stylesheet"> <link href="https://cdn.waset.org/static/plugins/fontawesome/css/all.min.css" rel="stylesheet"> <link href="https://cdn.waset.org/static/css/site.css?v=150220211555" rel="stylesheet"> </head> <body> <header> <div class="container"> <nav class="navbar navbar-expand-lg navbar-light"> <a class="navbar-brand" href="https://waset.org"> <img src="https://cdn.waset.org/static/images/wasetc.png" alt="Open Science Research Excellence" title="Open Science Research Excellence" /> </a> <button class="d-block d-lg-none navbar-toggler ml-auto" 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class="input-group"> <i class="fas fa-search"></i> <input type="text" class="search-query" name="q" placeholder="Author, Title, Abstract, Keywords" value="UK GAAP"> <input type="submit" class="btn_search" value="Search"> </div> </div> </form> </div> </div> <div class="row mt-3"> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Commenced</strong> in January 2007</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Frequency:</strong> Monthly</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Edition:</strong> International</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Paper Count:</strong> 9</div> </div> </div> </div> <h1 class="mt-3 mb-3 text-center" style="font-size:1.6rem;">Search results for: UK GAAP</h1> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">9</span> UK GAAP and IFRS Standards: Similarities and Differences</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Feddaoui%20Amina">Feddaoui Amina</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper aimed to help researchers and international companies to the differences and similarities between IFRS (International financial reporting standards) and UK GAAP or UK accounting principles, and to the accounting changes between standard setting of the International Accounting Standards Board and the Accounting Standards Board in United Kingdom. We will use in this study statistical methods to calculate similarities and difference frequencies between the UK standards and IFRS standards, according to the PricewaterhouseCoopers report in 2005. We will use the one simple test to confirm or refuse our hypothesis. In conclusion, we found that the gap between UK GAAP and IFRS is small. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=accounting" title="accounting">accounting</a>, <a href="https://publications.waset.org/abstracts/search?q=UK%20GAAP" title=" UK GAAP"> UK GAAP</a>, <a href="https://publications.waset.org/abstracts/search?q=IFRS" title=" IFRS"> IFRS</a>, <a href="https://publications.waset.org/abstracts/search?q=similarities" title=" similarities"> similarities</a>, <a href="https://publications.waset.org/abstracts/search?q=differences" title=" differences"> differences</a> </p> <a href="https://publications.waset.org/abstracts/73469/uk-gaap-and-ifrs-standards-similarities-and-differences" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/73469.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">210</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">8</span> An Empirical Study of the International Financial Reporting Standards Education in the United States</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Angela%20McCaskill">Angela McCaskill</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Accounting graduates in most United States universities are not being adequately taught International Financial Reporting Standards (IFRS). As such they are not prepared with the knowledge and skills necessary to remain competitive in international businesses. One of the reasons behind the ill preparation is the lack of specific international accounting instruction available in the U.S. This paper explores the importance of IFRS education through the lenses of graduate accounting majors. The paper specifically explores graduate accounting major’s preparedness in IFRS based on their recent completion of a Master in Accountancy degree where IFRS had been integrated. The data for the study was collected via face-to face and telephone/Skype interviews and questionnaires. After the interview the participants also agreed to answer two supplementary questions. The participants were to determine the amounts that should be reported on the balance sheet under (1) IFRS and (2) U.S. GAAP. These questions intended to test their knowledge of both sets of standards. The sample consisted of on-line and brick and mortar university students enrolled in their graduate program during the period from spring semester 2016 to summer semester 2016. This study shows that a separate course should be devoted to teaching IFRS and convergence related issues. There is a direct correlation between the knowledge level of those students taking an IFRS course and the successful completion of the supplementary questions compared to those who only had IFRS instruction mixed into their U.S. GAAP based instruction. Students who took an international accounting course were better prepared for the IFRS conversion than those who did not have a separate course. Academically, universities need to take a deeper look into the needs of their students and do better at incorporating international standards in their curriculum. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=accounting%20education" title="accounting education">accounting education</a>, <a href="https://publications.waset.org/abstracts/search?q=global%20accounting%20standards" title=" global accounting standards"> global accounting standards</a>, <a href="https://publications.waset.org/abstracts/search?q=international%20accounting" title=" international accounting"> international accounting</a>, <a href="https://publications.waset.org/abstracts/search?q=IFRS%20and%20U.S.%20GAAP%20convergence" title=" IFRS and U.S. GAAP convergence"> IFRS and U.S. GAAP convergence</a>, <a href="https://publications.waset.org/abstracts/search?q=IFRS" title=" IFRS"> IFRS</a>, <a href="https://publications.waset.org/abstracts/search?q=U.S.%20GAAP" title=" U.S. GAAP"> U.S. GAAP</a> </p> <a href="https://publications.waset.org/abstracts/70789/an-empirical-study-of-the-international-financial-reporting-standards-education-in-the-united-states" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/70789.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">259</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">7</span> International Comparative Study of International Financial Reporting Standards Adoption and Earnings Quality: Effects of Differences in Accounting Standards, Industry Category, and Country Characteristics</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Ichiro%20Mukai">Ichiro Mukai</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The purpose of this study is to investigate whether firms applying International Financial Reporting Standards (IFRS), provide high-quality and comparable earnings information that is useful for decision making of information users relative to firms applying local Generally Accepted Accounting Principles (GAAP). Focus is placed on the earnings quality of listed firms in several developed countries: Australia, Canada, France, Germany, Japan, the United Kingdom (UK), and the United States (US). Except for Japan and the US, the adoption of IFRS is mandatory for listed firms in these countries. In Japan, the application of IFRS is allowed for specific listed firms. In the US, the foreign firms listed on the US securities market are permitted to apply IFRS but the listed domestic firms are prohibited from doing so. In this paper, the differences in earnings quality are compared between firms applying local GAAP and those applying IFRS in each country and industry category, and the reasons of differences in earnings quality are analyzed using various factors. The results show that, although the earnings quality of firms applying IFRS is higher than that of firms applying local GAAP, this varies with country and industry category. Thus, even if a single set of global accounting standards is used for all listed firms worldwide, it is difficult to establish comparability of financial information among global firms. These findings imply that various circumstances surrounding firms, industries, and countries etc. influence business operations and affect the differences in earnings quality. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=accruals" title="accruals">accruals</a>, <a href="https://publications.waset.org/abstracts/search?q=earnings%20quality" title=" earnings quality"> earnings quality</a>, <a href="https://publications.waset.org/abstracts/search?q=IFRS" title=" IFRS"> IFRS</a>, <a href="https://publications.waset.org/abstracts/search?q=information%20comparability" title=" information comparability"> information comparability</a> </p> <a href="https://publications.waset.org/abstracts/99537/international-comparative-study-of-international-financial-reporting-standards-adoption-and-earnings-quality-effects-of-differences-in-accounting-standards-industry-category-and-country-characteristics" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/99537.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">169</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">6</span> Accounting for Cryptocurrency: Urgent Need for an Accounting Standard</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Fatima%20Ali%20Abbass">Fatima Ali Abbass</a>, <a href="https://publications.waset.org/abstracts/search?q=Hassan%20Ibrahim%20Rkein"> Hassan Ibrahim Rkein</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The number of entities worldwide that currently accept digital currency as payment is increasing; however, digital currency still is not widely accepted as a medium of exchange, nor they represent legal tender. At the same time, this makes accounting for cryptocurrency, as cash (Currency) is not possible under IAS 7 and IAS 32, Cryptocurrency also cannot be accounted for as Financial Assets at fair value through profit or loss under IFRS 9. Therefore, this paper studies the possible means to account for Cryptocurrency, since, as of today, there is not yet an accounting standard that deals with cryptocurrency. The request to have a specific accounting standard is increasing from top accounting firms and from professional accounting bodies. This study uses a mixture of qualitative and quantitative analysis in its quest to explore the best possible way to account for cryptocurrency. Interviews and surveys were conducted targeting accounting professionals. This study highlighted the deficiencies in the current way of accounting for Cryptocurrency as intangible Assets with an indefinite life. The deficiency becomes well highlighted, as the asset will then be subject to impairment, where under GAAP, only depreciation in the value of the intangible asset is recognized. On the other hand, appreciation in the value of the asset is ignored, and this prohibits the reporting entity from showing the true value of the cryptocurrency asset. This research highlights the gap that arises due to using accounting standards that are not specific for Cryptocurrency and this study confirmed that there is an urgent need to call upon the accounting standards setters (IASB and FASB) to issue accounting standards specifically for Cryptocurrency. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=cryptocurrency" title="cryptocurrency">cryptocurrency</a>, <a href="https://publications.waset.org/abstracts/search?q=accounting" title=" accounting"> accounting</a>, <a href="https://publications.waset.org/abstracts/search?q=IFRS" title=" IFRS"> IFRS</a>, <a href="https://publications.waset.org/abstracts/search?q=GAAP" title=" GAAP"> GAAP</a>, <a href="https://publications.waset.org/abstracts/search?q=classification" title=" classification"> classification</a>, <a href="https://publications.waset.org/abstracts/search?q=measurement" title=" measurement"> measurement</a> </p> <a href="https://publications.waset.org/abstracts/158953/accounting-for-cryptocurrency-urgent-need-for-an-accounting-standard" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/158953.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">96</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5</span> Effect of Management Compensation and Auditor Reputation on Tax Management in the Listed Banking Companies in Indonesia</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Fahreza">Fahreza</a>, <a href="https://publications.waset.org/abstracts/search?q=Yudhi%20Herliansyah"> Yudhi Herliansyah</a>, <a href="https://publications.waset.org/abstracts/search?q=Harnovinsah"> Harnovinsah</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study aims to examine how management compensation and auditor reputation effect on corporate tax management in banking using a sample banking companies listed in Indonesia Stock Exchange. At first, this study examines how the influence of management compensation on the implementation of tax management that may be made by management in order to improve the performance of the company. Second, this study also examines the effect of auditor reputation conducting audit on the implementation of the tax management. The population used in this study is the banking companies listed in Indonesia Stock Exchange. The method used was purposive sampling because the samples of this study have certain criteria that are tailored to the purpose of the study. Based on purposive sampling method, the number of samples in this study is 28 samples. Hypothesis tested using multiple regression analysis. The results of this study indicate that on the 5 % significance level, management compensation significantly influenced tax management as measured using the proxy book tax gap. Other result is management compensation does not significantly affect the tax management that measured using a proxy GAAP effective tax rate. In addition the auditor's reputation does significantly influence tax management as measured using the proxy book tax gap and GAAP effective tax rate. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=tax%20management" title="tax management">tax management</a>, <a href="https://publications.waset.org/abstracts/search?q=management%20compensation" title=" management compensation"> management compensation</a>, <a href="https://publications.waset.org/abstracts/search?q=auditor%20reputation" title=" auditor reputation"> auditor reputation</a>, <a href="https://publications.waset.org/abstracts/search?q=corporate%20characteristic" title=" corporate characteristic"> corporate characteristic</a> </p> <a href="https://publications.waset.org/abstracts/17231/effect-of-management-compensation-and-auditor-reputation-on-tax-management-in-the-listed-banking-companies-in-indonesia" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/17231.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">300</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">4</span> The Effects of Changes in Accounting Standards on Loan Loss Provisions (LLP) as Earnings Management Device: Evidence from Malaysia and Nigeria Banks (Part I)</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Ugbede%20Onalo">Ugbede Onalo</a>, <a href="https://publications.waset.org/abstracts/search?q=Mohd%20Lizam"> Mohd Lizam</a>, <a href="https://publications.waset.org/abstracts/search?q=Ahmad%20Kaseri"> Ahmad Kaseri</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In view of dearth of studies on changes in accounting standards and banks’ earnings management particularly in the context of emerging economies, and the recent Malaysia and Nigeria change from their respective local GAAP to IFRS, this study deemed it overwhelming to investigate the effects of the switch on banks’ earnings management focusing on LLP as the manipulative device. This study employed judgmental sampling to select twenty eight banks- eight Malaysia and twenty Nigeria banks as sample covering period 2008-2013. To provide an empirical research setting in pursuant of the objective of this study, the study period is further partitioned into pre (2008, 2009, 2010) and post (2011, 2012, 2013) IFRS adoption periods. This study consistent with previous studies models a LLP regression model to investigate specific discretionary accruals of banks. Findings suggest that Malaysia and Nigeria banks individually use LLP to manage reported earnings more prior to IFRS implementation. Comparative overall results evidenced that the pre IFRS adoption or domestic GAAP era for both Malaysia and Nigeria sample banks is associated with higher prevalent earnings management through LLP than the corresponding post IFRS adoption era in diverse magnitude but in favour of Malaysia banks for both periods. With results demonstrating that IFRS adoption is linked to lower earnings management via LLP, this study therefore recommends the global adoption of IFRS as reporting framework. This study also endorses that Nigeria banks embrace and borrow a leaf from Malaysia banks good corporate governance practices. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=accounting%20standards" title="accounting standards">accounting standards</a>, <a href="https://publications.waset.org/abstracts/search?q=IFRS" title=" IFRS"> IFRS</a>, <a href="https://publications.waset.org/abstracts/search?q=FRS" title=" FRS"> FRS</a>, <a href="https://publications.waset.org/abstracts/search?q=SAS" title=" SAS"> SAS</a>, <a href="https://publications.waset.org/abstracts/search?q=LLP" title=" LLP"> LLP</a>, <a href="https://publications.waset.org/abstracts/search?q=earnings%20management" title=" earnings management"> earnings management</a> </p> <a href="https://publications.waset.org/abstracts/17051/the-effects-of-changes-in-accounting-standards-on-loan-loss-provisions-llp-as-earnings-management-device-evidence-from-malaysia-and-nigeria-banks-part-i" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/17051.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">402</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3</span> New Formula for Revenue Recognition Likely to Change the Prescription for Pharma Industry</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Shruti%20Hajirnis">Shruti Hajirnis</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In May 2014, FASB issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606), and the International Accounting Standards Board (IASB) issued International Financial Reporting Standards (IFRS) 15, Revenue from Contracts with Customers that will supersede virtually all revenue recognition requirements in IFRS and US GAAP. FASB and the IASB have basically achieved convergence with these standards, with only some minor differences such as collectability threshold, interim disclosure requirements, early application and effective date, impairment loss reversal and nonpublic entity requirements. This paper discusses the impact of five-step model prescribed in new revenue standard on the entities operating in Pharma industry. It also outlines the considerations for these entities while implementing the new standard. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=revenue%20recognition" title="revenue recognition">revenue recognition</a>, <a href="https://publications.waset.org/abstracts/search?q=pharma%20industry" title=" pharma industry"> pharma industry</a>, <a href="https://publications.waset.org/abstracts/search?q=standard" title=" standard"> standard</a>, <a href="https://publications.waset.org/abstracts/search?q=requirements" title=" requirements"> requirements</a> </p> <a href="https://publications.waset.org/abstracts/20117/new-formula-for-revenue-recognition-likely-to-change-the-prescription-for-pharma-industry" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/20117.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">444</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">2</span> Critical Accounting Estimates and Transparency in Financial Reporting: An Observation Financial Reporting under US GAAP</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Ahmed%20Shaik">Ahmed Shaik</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Estimates are very critical in accounting and Financial Reporting cannot be complete without these estimates. There is a long list of accounting estimates that are required to be made to compute Net Income and to determine the value of assets and liabilities. To name a few, valuation of inventory, depreciation, valuation of goodwill, provision for bad debts and estimated warranties, etc. require the use of different valuation models and forecasts. Different business entities under the same industry may use different approaches to measure the value of financial items being reported in Income Statement and Balance Sheet. The disclosure notes do not provide enough details of the approach used by a business entity to arrive at the value of a financial item. Lack of details in the disclosure notes makes it difficult to compare the financial performance of one business entity with the other in the same industry. This paper is an attempt to identify the lack of enough information about accounting estimates in disclosure notes, the impact of the absence of details of accounting estimates on the comparability of financial data and financial analysis. An attempt is made to suggest the detailed disclosure while taking care of the cost and benefit of making such disclosure. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=accounting%20estimates" title="accounting estimates">accounting estimates</a>, <a href="https://publications.waset.org/abstracts/search?q=disclosure%20notes" title=" disclosure notes"> disclosure notes</a>, <a href="https://publications.waset.org/abstracts/search?q=financial%20reporting" title=" financial reporting"> financial reporting</a>, <a href="https://publications.waset.org/abstracts/search?q=transparency" title=" transparency"> transparency</a> </p> <a href="https://publications.waset.org/abstracts/84423/critical-accounting-estimates-and-transparency-in-financial-reporting-an-observation-financial-reporting-under-us-gaap" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/84423.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">200</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">1</span> International Financial Reporting Standards and the Quality of Banks Financial Statement Information: Evidence from an Emerging Market-Nigeria</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Ugbede%20Onalo">Ugbede Onalo</a>, <a href="https://publications.waset.org/abstracts/search?q=Mohd%20Lizam"> Mohd Lizam</a>, <a href="https://publications.waset.org/abstracts/search?q=Ahmad%20Kaseri"> Ahmad Kaseri</a>, <a href="https://publications.waset.org/abstracts/search?q=Otache%20Innocent"> Otache Innocent</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Giving the paucity of studies on IFRS adoption and quality of banks accounting quality, particularly in emerging economies, this study is motivated to investigate whether the Nigeria decision to adopt IFRS beginning from 1 January 2012 is associated with high quality accounting measures. Consistent with prior literatures, this study measure quality of financial statement information using earnings measurement, timeliness of loss recognition and value relevance. A total of twenty Nigeria banks covering a period of six years (2008-2013) divided equally into three years each (2008, 2009, 2010) pre adoption period and (2011, 2012, 2013) post adoption period were investigated. Following prior studies eight models were in all employed to investigate earnings management, timeliness of loss recognition and value relevance of Nigeria bank accounting quality for the different reporting regimes. Results suggest that IFRS adoption is associated with minimal earnings management, timely recognition of losses and high value relevance of accounting information. Summarily, IFRS adoption engenders higher quality of banks financial statement information compared to local GAAP. Hence, this study recommends the global adoption of IFRS and that Nigeria banks should embrace good corporate governance practices. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=IFRS" title="IFRS">IFRS</a>, <a href="https://publications.waset.org/abstracts/search?q=SAS" title=" SAS"> SAS</a>, <a href="https://publications.waset.org/abstracts/search?q=quality%20of%20accounting%20information" title=" quality of accounting information"> quality of accounting information</a>, <a href="https://publications.waset.org/abstracts/search?q=earnings%20measurement" title=" earnings measurement"> earnings measurement</a>, <a href="https://publications.waset.org/abstracts/search?q=discretionary%20accruals" title=" discretionary accruals"> discretionary accruals</a>, <a href="https://publications.waset.org/abstracts/search?q=non-discretionary%20accruals" title=" non-discretionary accruals"> non-discretionary accruals</a>, <a href="https://publications.waset.org/abstracts/search?q=total%20accruals" title=" total accruals"> total accruals</a>, <a href="https://publications.waset.org/abstracts/search?q=Jones%20model" title=" Jones model"> Jones model</a>, <a href="https://publications.waset.org/abstracts/search?q=timeliness%20of%20loss%20recognition" title=" timeliness of loss recognition"> timeliness of loss recognition</a>, <a href="https://publications.waset.org/abstracts/search?q=value%20relevance" title=" value relevance"> value relevance</a> </p> <a href="https://publications.waset.org/abstracts/17052/international-financial-reporting-standards-and-the-quality-of-banks-financial-statement-information-evidence-from-an-emerging-market-nigeria" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/17052.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge 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