Impact of Fair Value Accounting on Biological Assets in Agricultural Sector in Nigeria

Ubesie Madubuko Cyril; Nnajieze Ifeyinwa Elizabeth; Mbah Chris Chukwuemeka

doi:doi:10.11648/j.ijfbr.20190504.11

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Impact of Fair Value Accounting on Biological Assets in Agricultural Sector in Nigeria

Ubesie Madubuko Cyril, Nnajieze Ifeyinwa Elizabeth, Mbah Chris Chukwuemeka

Published in International Journal of Finance and Banking Research (Volume 5, Issue 4)

Received: 30 May 2019 Accepted: 17 July 2019 Published: 5 August 2019

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Abstract

This study critically reviewed the impact of fair value accounting on biological assets of Nigerian agricultural sector with a focus on Okomu Oil Palm Company Plcfor the period of 2009-2018. The study adopted ex-post facto research design. Analytical techniques employed were descriptive statistics and Ordinary Least Squares (OLS) multiple regression analysis. Findings revealed that fair value accounting operationalized by non-current asset, profit after tax, and current assets have insignificant positive effect on the biological assets of the Nigerian Agricultural firms. The implication is that the company reports gain in their biological assets when the fair values of their assets increases. Based on these findings, it was recommended among others that there is need for agricultural firms to adopt the fair value accounting system in other to keep proper records of its biological assets.

Published in	International Journal of Finance and Banking Research (Volume 5, Issue 4)
DOI	10.11648/j.ijfbr.20190504.11
Page(s)	64-70
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2019. Published by Science Publishing Group

Keywords

Fair Value, Biological Assets, Ordinary Least Squares Regression, Agricultural Sector

References

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APA Style

Ubesie Madubuko Cyril, Nnajieze Ifeyinwa Elizabeth, Mbah Chris Chukwuemeka. (2019). Impact of Fair Value Accounting on Biological Assets in Agricultural Sector in Nigeria. International Journal of Finance and Banking Research, 5(4), 64-70. https://doi.org/10.11648/j.ijfbr.20190504.11

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ACS Style

Ubesie Madubuko Cyril; Nnajieze Ifeyinwa Elizabeth; Mbah Chris Chukwuemeka. Impact of Fair Value Accounting on Biological Assets in Agricultural Sector in Nigeria. Int. J. Finance Bank. Res. 2019, 5(4), 64-70. doi: 10.11648/j.ijfbr.20190504.11

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AMA Style

Ubesie Madubuko Cyril, Nnajieze Ifeyinwa Elizabeth, Mbah Chris Chukwuemeka. Impact of Fair Value Accounting on Biological Assets in Agricultural Sector in Nigeria. Int J Finance Bank Res. 2019;5(4):64-70. doi: 10.11648/j.ijfbr.20190504.11

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@article{10.11648/j.ijfbr.20190504.11,
  author = {Ubesie Madubuko Cyril and Nnajieze Ifeyinwa Elizabeth and Mbah Chris Chukwuemeka},
  title = {Impact of Fair Value Accounting on Biological Assets in Agricultural Sector in Nigeria},
  journal = {International Journal of Finance and Banking Research},
  volume = {5},
  number = {4},
  pages = {64-70},
  doi = {10.11648/j.ijfbr.20190504.11},
  url = {https://doi.org/10.11648/j.ijfbr.20190504.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijfbr.20190504.11},
  abstract = {This study critically reviewed the impact of fair value accounting on biological assets of Nigerian agricultural sector with a focus on Okomu Oil Palm Company Plcfor the period of 2009-2018. The study adopted ex-post facto research design. Analytical techniques employed were descriptive statistics and Ordinary Least Squares (OLS) multiple regression analysis. Findings revealed that fair value accounting operationalized by non-current asset, profit after tax, and current assets have insignificant positive effect on the biological assets of the Nigerian Agricultural firms. The implication is that the company reports gain in their biological assets when the fair values of their assets increases. Based on these findings, it was recommended among others that there is need for agricultural firms to adopt the fair value accounting system in other to keep proper records of its biological assets.},
 year = {2019}
}

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TY  - JOUR
T1  - Impact of Fair Value Accounting on Biological Assets in Agricultural Sector in Nigeria
AU  - Ubesie Madubuko Cyril
AU  - Nnajieze Ifeyinwa Elizabeth
AU  - Mbah Chris Chukwuemeka
Y1  - 2019/08/05
PY  - 2019
N1  - https://doi.org/10.11648/j.ijfbr.20190504.11
DO  - 10.11648/j.ijfbr.20190504.11
T2  - International Journal of Finance and Banking Research
JF  - International Journal of Finance and Banking Research
JO  - International Journal of Finance and Banking Research
SP  - 64
EP  - 70
PB  - Science Publishing Group
SN  - 2472-2278
UR  - https://doi.org/10.11648/j.ijfbr.20190504.11
AB  - This study critically reviewed the impact of fair value accounting on biological assets of Nigerian agricultural sector with a focus on Okomu Oil Palm Company Plcfor the period of 2009-2018. The study adopted ex-post facto research design. Analytical techniques employed were descriptive statistics and Ordinary Least Squares (OLS) multiple regression analysis. Findings revealed that fair value accounting operationalized by non-current asset, profit after tax, and current assets have insignificant positive effect on the biological assets of the Nigerian Agricultural firms. The implication is that the company reports gain in their biological assets when the fair values of their assets increases. Based on these findings, it was recommended among others that there is need for agricultural firms to adopt the fair value accounting system in other to keep proper records of its biological assets.
VL  - 5
IS  - 4
ER  -

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Author Information

Ubesie Madubuko Cyril

Department of Accountancy, Faculty of Management Sciences, Enugu State University of Science and Technology (ESUT), Enugu, Nigeria
Nnajieze Ifeyinwa Elizabeth

Department of Accountancy, Faculty of Management Sciences, Enugu State University of Science and Technology (ESUT), Enugu, Nigeria
Mbah Chris Chukwuemeka

Department of Marketing, Faculty of Management Sciences, Enugu State University of Science and Technology (ESUT), Enugu, Nigeria

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Plain Text BibTeX RIS

APA Style

Ubesie Madubuko Cyril, Nnajieze Ifeyinwa Elizabeth, Mbah Chris Chukwuemeka. (2019). Impact of Fair Value Accounting on Biological Assets in Agricultural Sector in Nigeria. International Journal of Finance and Banking Research, 5(4), 64-70. https://doi.org/10.11648/j.ijfbr.20190504.11

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ACS Style

Ubesie Madubuko Cyril; Nnajieze Ifeyinwa Elizabeth; Mbah Chris Chukwuemeka. Impact of Fair Value Accounting on Biological Assets in Agricultural Sector in Nigeria. Int. J. Finance Bank. Res. 2019, 5(4), 64-70. doi: 10.11648/j.ijfbr.20190504.11

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AMA Style

Ubesie Madubuko Cyril, Nnajieze Ifeyinwa Elizabeth, Mbah Chris Chukwuemeka. Impact of Fair Value Accounting on Biological Assets in Agricultural Sector in Nigeria. Int J Finance Bank Res. 2019;5(4):64-70. doi: 10.11648/j.ijfbr.20190504.11

Copy | Download

@article{10.11648/j.ijfbr.20190504.11,
  author = {Ubesie Madubuko Cyril and Nnajieze Ifeyinwa Elizabeth and Mbah Chris Chukwuemeka},
  title = {Impact of Fair Value Accounting on Biological Assets in Agricultural Sector in Nigeria},
  journal = {International Journal of Finance and Banking Research},
  volume = {5},
  number = {4},
  pages = {64-70},
  doi = {10.11648/j.ijfbr.20190504.11},
  url = {https://doi.org/10.11648/j.ijfbr.20190504.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijfbr.20190504.11},
  abstract = {This study critically reviewed the impact of fair value accounting on biological assets of Nigerian agricultural sector with a focus on Okomu Oil Palm Company Plcfor the period of 2009-2018. The study adopted ex-post facto research design. Analytical techniques employed were descriptive statistics and Ordinary Least Squares (OLS) multiple regression analysis. Findings revealed that fair value accounting operationalized by non-current asset, profit after tax, and current assets have insignificant positive effect on the biological assets of the Nigerian Agricultural firms. The implication is that the company reports gain in their biological assets when the fair values of their assets increases. Based on these findings, it was recommended among others that there is need for agricultural firms to adopt the fair value accounting system in other to keep proper records of its biological assets.},
 year = {2019}
}

Copy | Download

TY  - JOUR
T1  - Impact of Fair Value Accounting on Biological Assets in Agricultural Sector in Nigeria
AU  - Ubesie Madubuko Cyril
AU  - Nnajieze Ifeyinwa Elizabeth
AU  - Mbah Chris Chukwuemeka
Y1  - 2019/08/05
PY  - 2019
N1  - https://doi.org/10.11648/j.ijfbr.20190504.11
DO  - 10.11648/j.ijfbr.20190504.11
T2  - International Journal of Finance and Banking Research
JF  - International Journal of Finance and Banking Research
JO  - International Journal of Finance and Banking Research
SP  - 64
EP  - 70
PB  - Science Publishing Group
SN  - 2472-2278
UR  - https://doi.org/10.11648/j.ijfbr.20190504.11
AB  - This study critically reviewed the impact of fair value accounting on biological assets of Nigerian agricultural sector with a focus on Okomu Oil Palm Company Plcfor the period of 2009-2018. The study adopted ex-post facto research design. Analytical techniques employed were descriptive statistics and Ordinary Least Squares (OLS) multiple regression analysis. Findings revealed that fair value accounting operationalized by non-current asset, profit after tax, and current assets have insignificant positive effect on the biological assets of the Nigerian Agricultural firms. The implication is that the company reports gain in their biological assets when the fair values of their assets increases. Based on these findings, it was recommended among others that there is need for agricultural firms to adopt the fair value accounting system in other to keep proper records of its biological assets.
VL  - 5
IS  - 4
ER  -

Copy | Download