TOP 10 PROJECT TOPICS ON INTERNATIONAL FINANCIAL REPORTING STANDARDS

INTERNATIONAL FINANCIAL REPORTING STANDARDS

As an accounting student some years ago in the university, one of the breakthroughs about accounting that I was engrossed with was the aspect of the International Financial Reporting Standard (IFRS). This is the unified accounting language. Project topics on this aspect of accounting come with much information gathering. 

I was glad that I could prepare a report in my country and sent it to another company in another country and they will be able to understand my entries and calculations.

I was happy that the gap in accounting communication, accounting relevance, and accounting identity was bridged. 

The International Financial Reporting Standards (IFRS) is a tool that unified accounting languages. IFRS is a tool that gave unified identity to the profession of accounting and increases accounting compatibility. Students and researchers, therefore, have written various project topics on International Financial Reporting Standards (IFRS). With several objectives and numerous research questions, writing a project topic on IFRS gives you access to the new order of accounting. 

Project topics on IFRS are signs of students and researchers rising to the fact that the field of accounting is much more than a regional or private use. The field of accounting has influenced businesses, corporations, non-governmental and governmental organizations. 

Anywhere there is money, then the skill of an accountant is needed. 

This is the reason why the IFRS is focused on giving a global identity to the field of accounting.

In this write-up, I will be showing you the top 10 project topics on International Financial Reporting Standard (IFRS). Consequently, IFRS is my core interest in accounting. Being a major in financial reporting I see IFRS as the only hope for the unity of accounting.

Below are top 10 project topics on International Financial Reporting standard:

THE IMPACT OF CULTURAL FACTORS ON THE IMPLEMENTATION OF GLOBAL ACCOUNTING STANDARDS IFRS IN NIGERIA

This project topic takes a singular look at the impact of cultural factors on the implementation of International Financial Reporting Standards (IFRS). The International Accounting Standard Board had a goal to develop a single set of principle-based global accounting standards, which is the IFRS. Research shows that accounting is influenced by the social, cultural and political environment. It is therefore questionable whether the IFRS-based standards can be implemented effectively in a different social and cultural environment. This project topic is therefore focused on highlighting the factors impeding the implementation of IFRS culturally.

THE IMPACT OF IFRS ON REVENUE RECOGNITION ISSUE

International Financial Reporting Standard (IFRS) began as an attempt to harmonize accounting across the European Union but the value of harmonization made the concept attractive around the globe. One aspect of the impact of the international financial reporting standard is how it recognizes the concept of revenue. 

This project topic was therefore written to examine the impact of International Financial Reporting Standards (IFRS) on revenue recognition. 

What is revenue under IFRS? How is it treated and what is its treatment effect on the local General Accepted Accounting Principles (GAAP)? 

For investors and other stakeholders, it is sometimes hard to say what the explanatory power of current returns and earnings is. 

It is unclear in which period current returns will lead to future earnings. And what the influence of previous returns on current earnings is. Therefore there must be good rules to determine when revenue and some item should be recognized. 

AN ASSESSMENT OF THE CHALLENGES ON THE ADOPTION OF IFRS BY DEPOSIT MONEY BANKS

This project topic was written to demonstrate the perception and attitude of the money deposit banks towards the adoption of the International Financial Reporting Standard (IFRS). It assessed their responses to this adoption through the challenges they encountered while rendering their annual reports to suit the new standards. This project topic raises awareness of the visible changes that should be amended by the international accounting standard board (IASB). 

THE IMPACT OF IFRS ON THE SERVICES DELIVERED BY PRICE WATERHOUSE COOPERS (PWC) LAGOS, NIGERIA

As a result of the global acceptance of IFRS, some developing nations who considered the global impact it would have on their economies either through foreign aids, Foreign Direct Investments (FDI) or the development of the capital market in terms of capital inflow decided to go for International Financial Reporting Standards (IFRS). 

The adoption of International Financial Reporting Standards (IFRS) reflects a fundamental shift in national accounting systems and professions. Various researchers then, asserted that the introduction of the IFRS gave room for uniformity in global financial reporting. 

Although much emphasis was laid on the impact of IFRS on the economy generally and non-financial institutions among others. 

This project topic, therefore, was written to examine the impact of international financial reporting standards (IFRS) on the accounting services rendered by accounting firms. 

The price-water Cooper was adopted as the case study for this project topic.

IMPACT OF IFRS DISCLOSURES ON ORGANIZATIONAL PERFORMANCE

One transparent aspect of the International Financial Reporting Standards (IFRS) is in how it recognizes disclosures. Researchers had examined the effect of the adoption of IFRS disclosure on organizations and the findings revealed both the advantages and the disadvantages of IFRS disclosure. This project topic was written to examine the impact of IFRS disclosures on organizational performance? 

It also examined the level of compliance with the IFRS disclosure principles by companies in Nigeria. 

Furthermore, this project topic highlighted the problems associated with IFRS disclosure in organizations in Nigeria. 

A hypothesis test was carried out in this study to test if there is a significant relationship between IFRS disclosures and organizational performance.

AN INVESTIGATION INTO THE CHALLENGES OF IFRS ADOPTION AND IMPLEMENTATION AMONGST SMALL AND MEDIUM SCALE ENTERPRISE OPERATORS IN NIGERIA

The introduction of IFRS in Nigeria and the state of globalization simply meant that SMEs cannot continue with local standards for financial reporting purposes. For SMEs involved in international trade with subsidiaries and franchises in other countries to be more successful internationally, it must comply with the IFRS guidelines. 

As a result of the harmonization of accounting reporting standards, the adoption of the IFRS has been widely accepted by various countries of the world. 

This project topic, therefore, was written to determine the level of awareness of International Financial Reporting Standards (IFRS) guidelines amongst SME operators. 

This project topic examined the extent to which IFRS is adopted by small and medium scale enterprises. 

It finally ascertained the challenges of implementing IFRS guidelines for SMEs. 

This project topic gathered its data from the small and medium enterprises in Ikeja Lagos State, Nigeria.

THE IMPACT OF INTERNATIONAL FINANCIAL STANDARDS (IFRS) ON THE QUALITY OF FINANCIAL STATEMENTS

This project topic set out to examine whether the impact of International Financial Reporting Standards (IFRS) in Nigeria has improved the quality of financial reporting in deposit money banks. 

The concept of accounting quality is based on the IASB framework where relevance, reliability, understandability, and comparability are key components and therefore, assumed that financial statements with the four qualitative characteristics have better quality. 

This project topic, therefore, seeks to find out the role IFRS plays in deposit money banks in Nigeria. 

This study also determined whether IFRS adoption and implementation have had a positive impact in Nigeria. 

Finally, the study highlighted the problems confronting the deposit money banks in Nigeria. 

The First bank Plc was adopted as the case study for this project topic.

IMPACT OF INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) ON SMALL AND MEDIUM SCALE ENTERPRISES IN NIGERIA

This project topic sought to establish the relevance of the International Financial Reporting Standard (IFRS) to small scale enterprises in Nigeria. The data for this project topic was analyzed using multiple regression analysis and the findings showed that there is a positive significant relationship between the timely preparation of financial statements and the adoption of IFRS. 

Specifically, the study sought to determine if Small and Medium Scale Enterprises in Nigeria are aware of the introduction of IFRS for SMEs. If they do, are their accounting and reporting practices by International Financial Reporting Standards (IFRS) for SMEs? 

Furthermore, this study sought to know if the adoption of IFRS has been relevant to Small and Medium Scale Enterprises in Nigeria. 

This project topic was designed to study selected small and medium enterprises in the Benin metropolis. 

Only organizations that fall within the range of small and medium scale enterprises and are located within Benin metropolis were considered in this study.

AN INVESTIGATION INTO THE CHALLENGES OF IFRS ADOPTION AND IMPLEMENTATION AMONGST SMALL AND MEDIUM SCALE ENTERPRISE OWNERS IN NIGERIA

For SMEs involved in international trade with subsidiaries and franchises in other countries to be more successful internationally, it must comply with the International Financial Reporting Standards (IFRS) guidelines. 

As a result of the harmonization of accounting reporting standards, the adoption of the IFRS has been widely accepted by various countries of the world. 

With the introduction of International Financial Reporting Standards (IFRS), SMEs in Nigeria were mandated to adopt the new reporting standard from January 2014. 

The awareness, acceptance, and implementation of the IFRS guidelines for SMEs became a challenge for many African countries. 

A lot of businesses did not understand what options were available and how IFRS for SMEs interplay to their benefit. 

This project topic, therefore, was written to determine the level of awareness of IFRS guidelines amongst SME operators. 

It examined the extent of IFRS adoption by small and medium scale enterprises. 

This project topic ascertained the challenges of implementation of the IFRS guidelines for SMEs by Small and Medium Scale Enterprises in Ikeja, Lagos state. 

This study was first carried out in Ikeja Lagos state.

CHALLENGES OF INTERNATIONAL FINANCIAL REPORTING STANDARD (IFRS)

The major challenge surrounding enforcing uniform accounting standards is due countries differ considerably in almost all faces. 

It is advisable to identify the complexity and structure of IFRS in countries. 

This project topic was written to examine the technical competency of preparers, auditors and users of IFRS in Nigeria. It also evaluated the legislative requirement of IFRS in Nigeria. The topic identified the system capability and internal capability of IFRS in Nigeria. 

Finally, this project topic sought to identify the accounting education of IFRS in Nigeria. The proponents of IFRS argue that the standard reduces information cost to an economy particularly as capital flows and trade become more globalized.

Take a step

The need for a harmonized accounting process and result was borne out of long-aged discrepancies that have bedeviled the accounting profession. 

The International Financial Reporting Standards (IFRS) therefore was developed by the International Accounting standard board (IASB) to ease the process of accounting and create a common language for the best possible accounting communication. 

However, to the third world countries, running this unified process has been a challenge due to obvious reasons such as the N-GAAP, cultural and economic purposes. 

The vision of the board is valid and has come to stay. 

These project topics listed above were written by students and researchers who took turns to evaluate the concept of IFRS. They examined it from different angles to get the best view of the standards. Over the years since the adoption of IFRS in Nigeria, these project topics have been studied by several students using different case studies. Different research processes have been also used to arrive at different results and different conclusions. These project topics have been written using descriptive methods.

When next you intend to carry out a study on International Financial Reporting Standards (IFRS), consider choosing these topics. 

These project topics can be modified to suit students’ preferences and reflect current issues.

You can also get access to more than 35,000 project topics on our website. 

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