The purpose of the study is to examine the impact of historical cost convention adopted by banks, on investment and performance appraisal. It is also to find out whether financial reports are prepared to reflect inflation on the economy and finally to find out whether management’s financial ineptitude is usually disclosed to owners while presenting financial reports.
The inductive research method will be adopted and the statistical analysts, particularly the chi-square and t-distribution test is going to be use in the analysis of the data from the banks.
The finding of the study were that:
1.Some financial statement contained in financial reports influence investment remarkably in banks.
2.The annual reports do not reflect inflationary effects in the country today.
3.The financial reports were prepared adopting a general purpose nature with the assumption that different users of the report have different information needs.
Accordingly, the following conclusion were made;
Although investors and performance evaluation analysts relied on financial statement in their decisions and appraisal, the reliability of financial reports especially during inflation cannot be assured, owning to the historical cost convention used as a basis for asset valuation by banks. This is because the profits so a accounting year would not usually show a true figure . Therefore, managerial decision of banks based entirely on financial reports will lead to poor and inadequate decisions.
The recommendations and suggestion made were based wholly on the outcome of study. For example, on the problem of inflation, it was remanded that the bank should adopt the current cast accounting basis for its financial reporting to ensure credibility and reliability of information, by the various users, given the inflationary realities.
TABLE OF CONTENTS
Title Page……………………i
Approval Page ……………………ii
Dedication ……………………iii
Acknowledgment …………………iv
Proposal……………………v
Abstract ……………………vi
Table of figure ……………………vii
Table of contents …………………viii
CHAPTER ONE
1.0INTRODUCTION
1.1Preamble or introduction
1.2Statement of problems
1.3Purpose of the study
1.4Research hypothesis
1.5Significance the study
1.6Research methodology
1.7Scope and limitations of the study
1.8Organisation of the study
1.9Definition of terms
CHAPTER TWO
2.0Review of Related Literature
2.1Introduction
2.2Background of union Banks of Nigeria Plc
2.3Need for financial reports
2.4Composition of banks financial report
2.4.1 The Chairman’s report
2.4.2The Directors report
2.4.3The Auditors report
2.4.4The financial statement
2.5Various uses of financial reports and information needs of such users.
Kings, S.
(2018). A CRITICAL ANALYSIS OF THE IMPACT OF FINANCIAL REPORTING ON BANK PERFORMANCE A CASE STUDY OF UNION BANK OF NIGERIA PLC. Afribary. Retrieved from https://afribary.com/works/a-critical-analysis-of-the-impact-of-financial-reporting-on-bank-performance-a-case-study-of-union-bank-of-nigeria-plc-1080
MLA 8th
Kings, Solomon
"A CRITICAL ANALYSIS OF THE IMPACT OF FINANCIAL REPORTING ON BANK PERFORMANCE A CASE STUDY OF UNION BANK OF NIGERIA PLC" Afribary. Afribary, 29 Jan. 2018, https://afribary.com/works/a-critical-analysis-of-the-impact-of-financial-reporting-on-bank-performance-a-case-study-of-union-bank-of-nigeria-plc-1080. Accessed 08 Jun. 2023.
MLA7
Kings, Solomon
. "A CRITICAL ANALYSIS OF THE IMPACT OF FINANCIAL REPORTING ON BANK PERFORMANCE A CASE STUDY OF UNION BANK OF NIGERIA PLC". Afribary, Afribary, 29 Jan. 2018. Web. 08 Jun. 2023. < https://afribary.com/works/a-critical-analysis-of-the-impact-of-financial-reporting-on-bank-performance-a-case-study-of-union-bank-of-nigeria-plc-1080 >.
Chicago
Kings, Solomon
. "A CRITICAL ANALYSIS OF THE IMPACT OF FINANCIAL REPORTING ON BANK PERFORMANCE A CASE STUDY OF UNION BANK OF NIGERIA PLC" Afribary (2018). Accessed June 08, 2023. https://afribary.com/works/a-critical-analysis-of-the-impact-of-financial-reporting-on-bank-performance-a-case-study-of-union-bank-of-nigeria-plc-1080
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