Department of Accounting
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Item An Empirical Investigation into the relationship between Capital Structure and Firm`s Market Value in Nigeria(Journal of Accounting, Finance and Development, 2019-02-02) Okoye, Peter Anija; Ayogu SundayFollowing the Modigliani and Miller theory (1963), there have been considerable debates on the nature of relationship that exists between a company`s capital structure and its market value. This study seeks to empirically investigate the relationship between corporate capital structure and a firm`s market value in Nigeria.. Dataset from selected companies listed on the Nigerian Stock Exchange for the period of 2013- 2017 were used for analysis. Results from the analysis show a positively significant relationship between a firm`s capital structure and its market value.. Hence, the study recommends that listed companies in Nigeria should optimize their capital structure in order to maximize their market value for the benefit of all the stakeholders.Item Internal Brand Equity of Universities and Students’ Academic Performance(Sona Global Management Review, 2018-02-02) Musiliu Babatunde Abina; Uthman Ahmad BukolaInternal branding occupies the core of internal marketing thus sifting out the values at the behest of an organization in achieving stated objectives. Bearing this in mind, this study adopts a survey technique to identify the perception of consumers (students) on internal brand equi ties of academic institutions in the shadows of the minimum academic standards requirement as determinants of academic performance. The ingenuity of this work thus lies in the ability of the study to examine internal brand equities of academic institutions/services. A test of difference was conducted to understudy the interplay between the academic performance of students among five cohorts distributed based on academic performance of students. The analysis made use of Kruskal-wallis test with the application of Wilcoxon signed rank tests with the Bonferroni Correction as post hoc analysis to identify the direction of the differences. The research identified how students are segregated on the basis of their academic performances and the variables helpful to their academic performances. Chiefly, high-flying students present unequivocal views on the usefulness of ‘facilities’, ‘library services’ and ‘working hours’ to the academic performance of students. On this note, the study recommends that attention of government can be directed to areas of Library services, academic services and physical facilities as all students except the high-flyers are having conflicting view with respect to their ranks on internal brand variables. More so, non-academic services should be improved upon as it is disregarded as a helpful variable by the ‘high flying students.Item Prospect for Accounting Academics(Management & Accounting Review, 2019-02-02) Uthman Ahmad Bukola; Mubaraq Sannib; Abdulai Agbaje SalamicThe future of accounting education rests on the development of accounting academics. In the social space of competing job opportunities for both graduate and professional accountants, this paper considers how the interest of prospective accounting graduates in Nigerian universities could reshape the widely reported shortage of accounting academics. Viewing through the lens of the Circumscription Theory, it examines how career choices of undergraduate accounting students affect the prospect of accounting education. The survey technique was adopted to sample students’ opinions across three universities in their career decisions, the factors that affect such decisions and their key referents. The respondents were divided based on their preference for academic jobs and the Mann-whitney U test was conducted to examine the differences in factors that affect their preferences. The study revealed that financial rewards account for students’ preference for non-academic jobs. Hence, only 10% of the respondents showed an intention to pursue a career in the academia. Other factors such as job leisure, ambitiousness and career prestige are also responsible for students’ preference for non-academic jobs. The results of the study confirmed the prediction of the Circumscription Theory. It is therefore recommended that academic jobs should be made attractive for accounting graduates by improving the financial rewards of academic staff generally. More so, attention should be further directed towards factors such as job leisure, holiday travels, prestige and easy achievement of ambitions since students get swayed from academic jobs because of those factors.Item Curbing Financial Crimes with Anti-Graft Bureaus in Nigeria(Journal of Accounting and Management Information Systems (JAMIS), 2015-02-02) Uthman Ahmad Bukola; Oke, Lukman Adebayo; Ajape, Mohammed Kayode; Abdul-Baki, Zayyad; Tijani, Murhtala OladipupoCorruption, be it financial or non-financial is a global cankerworm that has eaten deep into the fabrics of many nations and war against it has been a recurring decimal in every economy. In Nigeria, recent attempts at nipping corruption in the bud gave rise to some anti-graft agencies such as the Economic and Financial Crimes Commission (EFCC). Against this background, opinion of 140 accountants in various capacities was sought on the efficacy of the anti-graft agencies in curbing financial crimes through a survey questionnaire. The study found that respondents group perceived the anti-graft agencies as highly effective but could not establish that accountants in various walks of life differ significantly in their perception of the efficacy of the Nigerian Anti-graft bureaus (Overall Mean= 2.98, F= 2.263 and P>0.05)using ANOVA as statistical analysis tool. It was recommended that Nigerian government should strengthen the Anti-financial crimes agencies given that the influence of highly placed offenders, the dignity, societal bondage and shame inherent in financial crimes may affect the potency of anti financial crimes measures put in place.Item Islamic perspective of management accounting decision making techniques(Journal of Islamic Accounting and Business Research, 2013-02-02) Zayyad Abdul-Baki; Uthman Ahmad Bukola; Atanda Aliu Olanrewaju; Solihu Aramide IbrahimPurpose– This paper aims to argue that the methodologies adopted by the conventional management accounting in selecting between or among two or more alternative courses of action, both in the long-term and the short-term decision making endeavours conflict with the overall objective ( falah) of Islamic enterprises. Design/methodology/approach– The paper explores relevant literatures (including the Qur’an and the Hadeeth) to ascertain the objective of an Islamic enterprise and suggest an alternative approach, in making a choice among alternative courses of action, that aligns with the Islamic socio-economic objective (falah). Findings– The paper suggests that both in long-term and short-term decision making endeavours, cost-benefit comparison (where cost includes negative externalities) rather than discounted cashflow techniques or contribution margin should be adopted in making a final choice among alternatives to achieve falah. Research limitations/implications– The paper has not considered other objectives that may be pursued by an organisation beside profit maximization whether short-term or long-term. Practical implications– The paper expands the frontiers of knowledge in Islamic accounting by exposing the inadequacy of the conventional management accounting decision making methods. Originality/value– This paper explores the Islamic perspective of the conventional management accounting which is rare among scholars of accounting.Item Accounting ethics education in Nigeria(Academic journal of economic studies, 2018-02-02) Salami, Abdulai Agbaje; Sanni, Mubaraq; Uthman Ahmad BukolaThe symbiotic relationship between good ethical disposition and accounting profession is incontestable. Aside from the previous infamous global corporate scandals, the recent fraudulent practices revelation in the Nigerian public life is a serious source of concern. This study examines the impact of ethics education on the potential accountants to establish whether the propriety of their conduct in the future is guaranteed. This necessitates the survey of accounting students based on the three forms of ownership of university in Nigeria. The findings of the survey based on the structured questionnaire using Kruskal-Wallis tests show that, the students’ groups agree on the value-relevance of ethics education, its ability to expose them to means of resolving future ethical challenges and their readiness to become whistle-blowers. However, the students’ groups’ failure to agree on the necessity of ethical competence for accountants and their disagreement on their confidence to tackle unfamiliar problems signal what is expected of accounting educators for students to become more ethically equipped. Also, the expectation of the reinforcement of whistle-blower protection is evident from its intertwining with disclosure of unethical practices. The timing and implications of this study on the activities of accounting educators and policy makers accentuate its uniqueness.Item Audit Pricing, Start-Up Cost and Opinion Shopping(Journal of Accounting and Management Information Systems (JAMIS), 2014-02-02) Tijani, Oladipupo Muhrtala; Uthman Ahmad Bukola; Abdul-Baki, Zayyad; Oke, Lukman AdebayoThe purpose of this paper is to predict the association between the effect of start-up cost and audit opinion shopping on the pricing strategies of medium-sized audit firms. Using a sample of 753 local –office-year observations between 2006 and 2011, we find evidence of a positive association between higher audit pricing of new private client and audit opinion shopping. We also find that start-up cost is a good predictor of higher initial fees charged by auditors for private clients. While earnings risk management (ERM) and financial performance risk (FPR) are significant factors in audit pricing, litigation risk (LR) however failed to evolve as a direct significant predictor. Although this study focused on the effects of start-up costs and opinion reporting, it fails to differentiate between firm cost allocation and apportionment. The model can be used to assist audit firms not only to develop pricing strategies that fully reflect the effective cost allocation, but also to be receptive to the implications of opinion reporting on service pricing.Item Bank Capital, Operating Efficiency, and Corporate Performance in Nigeria(Acta Univ. Sapientiae, Economics and Business,, 2018-02-02) Abdulai Agbaje Salami; Uthman Ahmad BukolaThis study examines the impact of bank capital and operating efficiency on the Nigerian deposit money bank financial performance with a view to resolving risk-based and non-risk-based capitals’ dichotomy existing in the bank literature. Using bank-specific data obtained from the annual reports and accounts of 15 banks listed on the Nigerian Stock Exchange between 2012 and 2015, the panel data regression analyses revealed the superiority of standard capital ratio of equity-to-total-assets, a non-risk-based capital, over other measures. While all measures, both risk-based and non-risk-based capitals, showed significantly positive effects on bank performance as measured by return-on-asset, mixed results were obtained from other indicators: return-on-equity and net-interest-margin. Overall, only equity-to-total-assets influenced all adopted performance indicators positively. It was also found that operating efficiency measured by cost-to income ratio had negative impact on bank performance, but on the average it appeared too high. Thus, incorporating the standard capital ratio of equity-to-total assets into regulatory regime by the banks’ regulator is recommended to ensure its relevance is not overshadowed.Item The value-relevance of accounting information in Nigeria(Journal of Accounting and Management, 2014-02-02) Uthman Ahmad Bukola; Zayyad Abdul-BakiThis study investigates the effect of IFRS adoption on the value-relevance of accounting information in Nigeria. The study builds on the explanation of extant finance theories on the value and timing of information. IFRS was measured with more disclosure of economic events as well as the fair valuation of economic events under IFRS. The opinions of a number of financial analysts with the aid of e-mail questionnaire were sourced. A log-linear test was run to test the interaction of the variables and the significance of such interaction. A significant relationship was found between the each of the independent variables and the dependent variable at 5% level of significance. The study therefore offers explanations regarding the IFRS adoption as a bridge of the gap between accounting and finance measurement of information. Hence, concludes that IFRS adoption has enhanced the value relevance of accounting information in Nigeria. However, recommendation was made that more measures should be put in place to ensure full compliance of IFRS by all affected Nigerian entities.Item The role of accounting and accountants in the oil subsidy corruption scandal in Nigeria(Elsevier, 2019-02-02) Zayyad, Abdul-Baki; Uthman, Ahmad Bukola; Abubakar, S. KasumAccounting firms have long been profit-orientated ventures, and their pursuit of profits has overshadowed the protection of the public interest they avow. This study investigates how corruption, as an institutionalized practice in Nigeria, has led two accounting firms to support and engage in corruption rather than guard against it in an oil subsidy corruption scandal in Nigeria. Adopting Dillard, Rigsby, and Goodman’s (2004) model of institutional theory, the study argues that the institutionalization of corruption, through its pervasiveness at the social, economic and political level, is a premise for its institutionalization at the organizational field level (the oil subsidy scheme). Because the two accounting firms were both involved in the operation of the oil subsidy scheme, their practices were essentially forced to conform to the institutionalized practice—corruption—as opposed to the protection of the public interest.