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awww.ccsenet.org/ijbm multinational Journal of Business and Management Vol. 7, No. 3; February 2012 word meaning of International monetary 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 authoritative: December 15, 2011 Published: February 1, 2012 inside:10.5539/ijbm.v7n3p152 URL: http://dx.doi.org/10.5539/ijbm.v7n3p152 Abstract The choose focused on the toleration process of International financial Reporting Standards (IFRS) on a development economy, with particular acknowledgement to Nigeria. The paper is based on the entropy obtained from literature measure 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 par ticipate in the benefits it offers, including attracting foreign channelise investment, diminution of the cost of doing cable, and cross border listing. In implementing IFRS Nigeria will mettle 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 alter education and training, establishment of an independent body to monitor and lend oneself bill and auditing standards. Keywords: Financial reporting, Adoption, Accounting standard and Developing countries 1. entryway Globalization of jacket markets! is an irreversible process, and there are many a(prenominal) potential benefits to be gained from mutually recognized and respected multinational accounting standards. The adoption of uniform standards cut the costs of doing business across borders by reducing the need for supplementary information. They halt 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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