Effect of Financial Instrument Reporting on Quality of financial statement of Listed
Banks in Nigeria.

Nwaorgu, Innocent Augustine. ACA ACTI AMNIM (Ph.D)
Department of Accounting, College of Management sciences,
Michael Okpara University of Agriculture Umudike. Umuahia,
Abia
state.
ianwarogu@yahoo.com +2348037511654
Iormbagah, Jacob Aondohemba.
Department of Accounting, College of Management sciences,
Michael Okpara University of Agriculture Umudike. Umuahia,
Abia state. Jiormbagah1@gmail.com +2347039678962

ABSTRACT
The study examined the effect of financial instrument reporting on quality of listed banks financial
statement in Nigeria. The study employed ex post facto research design using data from 3 listed banks
that have coverage within the west African region. The data span across 7 years from 2010-2016
and were analyzed using Multiple regression. Findings from the study revealed that derivative assets,
derivative liability, financial instrument disclosure all have no significant effect on the earnings per
share of the listed banks sampled for the study. Hence, based on the results obtained from this study
it is recommended that investors seeking for quality information about the risk exposure of the banks
in regards to their financial instruments should not place too much emphasis on the three aspects of
financial instrument reporting since they do not significantly affect the earnings per shares. Only
limited information is passed along to investors and shareholders by managers as a result they should
exercise caution when analyzing these instruments in the financial statement.
Keywords: Derivative Assets, Derivative Liability, Financial Instrument Disclosure and
Earnings per share.

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