Accounting-Scholarly Publications
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- ItemOpen AccessThe Role of Financial Intermediaries in Elite Money Laundering Practices: Evidence from Nigeria.(1997) Otusanya, O.J; Ajibolade, S.O; Omolehinwa, E.OOne of the most pervasive economic crimes in the world today is money laundering. It has been estimated that some $2 to $3.6 trillion of hot money is laundered through the financial market each year. Such huge amounts of money cannot be successfully laundered without the involvement of financial intermediaries (such as bankers and lawyers) who used their expertise to conceal and obscure illegal activity. However, broader accounts of the role of financial intermediaries in corrupt practices are relatively scarce. The purpose of this paper is to examine some predatory activities of financial intermediaries in facilitating money laundering practices in Nigeria. The paper locates the role of financial intermediaries within the sociological theory of profession to argue that these professionals facilitate money laundering despite their professional and ethical claims. The paper uses publicly available evidence to illuminate the role played by financial intermediaries in elite money laundering. The evidence shows that, in pursuit of organisational and personal interest, the financial intermediaries create enabling structures that support illicit activities of political and economic elite in Nigeria. The paper concludes that the establishment of money laundering laws and the creation of anti‐money laundering agencies had not brought about professional transparency and ethical conduct.The paper therefore suggests that Nigeria needs to reform its financial institutions to promote integrity, accountability and ethical professional conduct to curb money laundering and to build trust in the Nigerian financial system. The social, economic and political effects of financial intermediaries' anti‐social practices are significant as huge amounts, often dwarfing the gross domestic product (GDP) of many nation states, are involved. These questionable practices by financial intermediaries increase profits, but harm citizens.The paper is a general review of literature and evidence on contemporary issues.
- ItemOpen AccessCorruption as an obstacle to development in developing countries: a review of literature.(1997) Olatunde, J.OContemporary literature has paid scholarly attention to corruption from a variety of competing perspectives. However, broader accounts of the impact of corruption on development in developing countries are relatively scarce. The purpose of this paper is to examine the effect of corruption as a social impediment to development, which has a devastating effect on developing countries. The paper explores the relevant literature and the different perspectives that have been developed and conducted for investigating corruption in developing countries. The paper uses publicly available evidence to show that political, economic elite engaged in corrupt practiceThe evidence shows that socio‐political and economic development, politics, power, history and globalisation have continued to reproduce and transform the institutional structures and actors which have facilitated corrupt practices in developing countries. The review shows that large sums of government revenue have been undermined by the corrupt practices of the political and economic elite (both local and international), which have enriched a few, but impoverished most.The paper seeks to bring the anti‐social activities of political, economic and professionals under scrutiny and offers some suggestions for reforms.Corruption has played a major role in causing serious damage to the economic and social landscape in developing countries. This in turn, has undermined social welfare and also investment in the public services, thereby eroding the quality of life and producing a decline in average life expectancy. The paper is a general review of literature and evidence on contemporary issues.
- ItemOpen AccessInternational Transfer Pricing:(1999) Ajibolade, S.O.
- ItemOpen AccessThe Development Of Accounting In Nigeria:(2004-06) Adeyemi, S.B.; Ogundele, B.O.The rapid changes in the field of accounting necessitate an occasional evaluation of development in major areas to enable positive changes in the profession. Drawing on a number of primary and secondary sources,-this study outlines the undertakings of the key institutional role-players in accounting development in Nigeria in the pre- and post-independence periods. The study focuses on accounting education. training, and practice. A number of significant achievements have been recorded which make the profession remarkable in providing valuable services in the socio-economic development, of Nigeria. The country's colonial affiliation has had positive impact on the standard observed. However, opportunities exist for improvement. especially, in research and quality of output in view of dynamic global demands, A joint effort of the part of stakeholders is recommended to consolidate the achievements already recorded and uplift the reporting standard in Nigeria and Africa.
- ItemOpen AccessDesigning Appropriate Basic Accounting System For SMEs.(2004-06) Akerele, E.K.
- ItemOpen AccessDesigning Appropriate Basic Accounting System For SMEs.(2004-06) Akerele, E.K.The study focuses oft the crucial roles played (SMEs) in the economies of developing third countries. It is in realization of these roles that there had been strong advocacy with continued impetus for the promotion of SME that deliberate policies have at various times led to the establishment of people oriented programmes such as Family Support Programme (FSP), Family Economic Advancement Programme (FEAP). etc. The study reveals problems inherent ln SME's with emphasis on poor accounting system.It discusses the provision of the law and standards on accounting records and explain further on the analysis of the duration for accounting records, annual returns and the accounting standards. The paper examined accounting system, and also the characteristic of a good internal control system. The study concluded that accounting finds application in almost all fields of human endeavour and also plays the role of measuring and communicating to interested parties the rate of resource utilization and the results achieved there from. A reliable accounting system is indispensable for the growth of any SME.
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- ItemOpen AccessA cultural perspective of financial disclosures in Nigerian corporate financial statements.(2006) AjiboIade, S.O.; Ogundele, B.O.
- ItemOpen AccessImpact of leadership style on managerial budget performance in Nigeria.(2006) Ajibolade, S.O.
- ItemOpen AccessAn Evaluation of Research Reporting Activities of Business Students.(2006) Ajibolade, S.O.Preparing students for future career as managers or academics requires that they acquire necessary research skills. This study investigates the extent to which business undergraduate students are acquiring appropriate research skills, by focusing on an important but relegated aspect of research activities: referencing in research project reports. The study is based on a content analysis of a quota sample of 500 students' research projects and an analysis of questionnaire responses of 250 final year undergraduate students in a business faculty of a Nigerian university. The study finds that standard procedures for citation were not adopted by a large percentage (71.2%) of project reports examined. Results also indicate a lack of adequate knowledge of citation procedures, standard methods of referencing, importance of the requirement and the implications of plagiarism. The study suggests more attention be paid to this aspect of training. Students need to be more informed about proper rules of referencing, and for greater effectiveness, business faculties/schools and even the universities may need to formulate their own standards for presentation of references. A choice may be made of or two major referencing styles to be adopted consistently in students' project report presentation.
- ItemOpen AccessLet The Private Sector Run Businesses:(2006-09) Okpareke, C.G.
- ItemOpen AccessThe Normality Assumption In The Distributions Of Financial Ratios:(2007) Avwokeni, A.J.The study was designed to establish the normality assumption that is said to underlie the distribution of financial ratios. The participants were 8 financial ratios: working capital to total assets, current assets to current liabilities, current assets less inventories to current liabilities, retained earnings to total assets, operating income to total assets, market value of equity to book value of debt, total debt to total assets, and sales to total assets. The ratios were drawn from four pragmatic groups: liquidity, profitability, financing structure, and capital turnover. Each ratio was obtained for a period of 10 years (1994-2003) from 12 companies; three each in Pharmaceutical, Automobile, Conglomerate and Industrial-domestic industries in the manufacturing sector. The distribution of each ratio was analyzed for normality at three levels using the coefficients of skewness and Kurtosis, and the moment statistic test: first, the distribution of each ratio was obtained from a single firm ; then extended across firm within an industry, and finally across industries. The results indicate that the distribution of financial ratio in a firm or across firms within an industry follows a normal distribution but non-normal when extended across industries. However, the ratio of retained earnings to total assets and operating income to total assets follow a normal distribution irrespective of the extension across industries. •
- ItemOpen AccessAn Evaluation Of Research reporting Acitvties Of Business Students.(2007) Ajibolade, S.O.Preparing students for future career as managers or academics requires that they acquire necessary research skills. This study investigates the extent to which business undergraduate students are acquiring appropriate research skills, by focusing on an important but relegated aspect of research activities: referencing in research reports. The study is based on a content analysis of a quota sample of 500 students' research projects and an analysis of questionnaire responses of 250 final year undergraduate students in a business faculty of a Nigerian university. The study finds that standard procedures for citation were not adopted by a large percentage (71.2%) of project reports examined. Results also indicate a lack of adequate knowledge of citation procedures, standard methods of referencing, importance of the requirement and the implications of plagiarism. The study suggests more attention be paid to this aspect of training. Students need to be more informed about proper rules of referencing, and for greater effectiveness, business faculties/schools and even the universities may need to formulate their own standards for presentation of references. A choice may be made of one or two major referencing styles to be adopted consistently in students' project report presentation.
- ItemOpen AccessA Survey of The Perception of Ethical Behaviour of Future Nigerian Accounting Professionals.(2008) Ajibolade, S.O.This paper provides an evaluation of the perception of ethical behaviour of Nigerian accounting students. The purpose is to determine whether accounting education in Nigerian tertiary institutions impacts positively on the perception of ethical behaviour in accounting students. Data obtained from three hundred and eighty one accounting students at three tertiary) institutions in Lagos State are analysed using paired sample T-test. The results reveal significant differences in the ethical perception of beginning and final year students. However, contrary to expectations the beginning students have higher ethical perception scores than the final year students. These results suggest that the education of accounting students in Nigerian tertiary) institutions may not be providing positive impact on perception of ethical behaviour. A gap in the accounting education in these institutions in terms of ethics is therefore indicated. Greater emphasis needs to be placed on ethics education of accounting students in our business faculties to promote ethical behaviour in organisations.
- ItemOpen AccessA survey of the perception of ethical behaviour of future Nigerian accounting professionals.(2008) Ajibolade, S.O.
- ItemOpen AccessPension Fund Administration In Nigeria.(Pen & Pages LTD '74, Adetokunbo Ademola Crescent Wuse Il, Abuja. Global journal of Accounting. Vol. 2, (1), p. 218 - 221., 2008) Barrow, G.; Akerele, E.K.
- ItemOpen AccessInternational Approaches To The Teaching Management Accounting:(2008) Ajibolade, S; Omolehinwa, E.; Hyman, L.This paper reports a comparative study of the teaching of management accounting at the undergraduate level in a US- based business school and a business faculty in a Nigerian university. The purpose is to highlight similarities and differences in the designing and teaching of management accounting, with a view to influencing improvements in the system of transmitting management accounting education. The study yields data on seven different cost and management accounting courses taught at different levels of study at the two institutions. Analysis of the curricula on a number of dimensions reveals some similarities in content and pedagogy. However, substantial differences are noted in terms of coverage of contemporary issues; the extent of use of information technology, case methods and team projects; and the partitioning of the curricula to facilitate students’ learning. The management accounting curricula in the institutions may require some improvement; some approaches are suggested in this study.
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- ItemOpen AccessThe effect of gender on the perception of ethical behaviour in Nigeria.(2009) AjiboIade., S.O.; Ogunleye, O.J.
- ItemOpen AccessCorporate governance and the credibility of financial statements in Nigeria(Journal of Business Systems, Governance and Ethics, Victoria University, Australia, 2009) Dabor, E. L.; Adeyemi, S. B.Optimal decision-making is based on the quality of information available to the decision maker. Financial statements published by companies are the major sources of financial information available to investors and other stakeholders of the company. The credibility of these financial statements has very salient implications for the quality of decisions that investors can make. By using primary data collected from two hundred and forty eight respondents, and secondary data from twenty quoted companies in Nigeria, we sought to determine the relationship between corporate governance and the credibility of financial statements. The secondary data was analysed using multiple regression, while the primary data was used to test hypotheses using the chi-squared test. We find that including non-executive directors on the board, and compliance with audit committee composition as provided by the Nigerian Companies and Allied Matters Act (CAMA) 1990 are likely to enhance the credibility of financial statements. We did not find evidence to suggest that CEO duality or absence of institutional shareholding would have negative effect on the credibility of financial statements. We recommend that apart from including non-executive directors on the board and ensuring that the composition of the audit committee complies with corporate regulatory framework, stakeholder must constantly assess the credibility of the financial statements by assessing the benefits accruing to them in relation to their financial exposure to the organization.