UMM Journal of Accounting and Financial Management

FRAUD TRIANGLE AND FRAUDULENT FINANCIAL REPORTS: A REVIEW

Thu, 17 Oct 2024 00:00:00 +0000

Fraudulent financial reporting poses a significant threat to the integrity of the trust of stakeholders in businesses, and the fraud triangle highlights key elements that contribute to the occurrence of fraud in a firm. This paper reviews extant literature on fraud triangle and fraudulent financial reports of firms. Findings showed that fraud is a multifaceted phenomenon, whose contextual factors may not fit into a particular framework. Consequently, the fraud triangle should not be seen as a sufficiently reliable model for antifraud professionals. The paper therefore recommends that a study to identify a fraud mechanism to detect and predict fraud in financial statements be carried out.

NEXUS BETWEEN ENTREPRENEURSHIP GRANTS ON BUSINESS STARTUP AND ACTIVITIES OF YOUTHS IN NORTH CENTRAL NIGERIA

Thu, 17 Oct 2024 00:00:00 +0000

This SME-led economic model is based on the recognition, by economic managers, of the potential of the sector as a panacea to a slew of macroeconomic issues, including unemployment and the numerous socio-economic problems that come with it. Poverty, lack of jobs and low earning capacity among the youth, for example, have often been fingered as part of the reasons for insecurity in the North region of Nigeria. Hence, this study provide an examination of the effect of entrepreneurship grant (proxy by Bank of industry entrepreneurship grant) on business startup among youth in North Central, Nigeria. The study adopts survey research design. The population of this study comprised of youth who benefited from BOI entrepreneurship grants in North Central States, Nigeria. The study used Partial Least Square Structural Equation Modeling (PLS-SEM) in determining both the measurement and structural models through SmartPLS 3.0 software. The result of the study revealed that bank of industry entrepreneurship grant has positive and statistically significant effect on business startup among youth in North central Nigeria. This suggest that entrepreneurship grant given by bank of industry has spread to reasonable number of youths in North central Nigeria and has enhance their business startup. Bank of industry should maintain the offer of the entrepreneurship rant to youths in the North central Nigeria. By way of continuing expanding and promoting access to this grant program. This can be achieved through increase creation of awareness of the Bank of Industry Entrepreneurship Grant among youth in North Central Nigeria through targeted marketing campaigns, workshops, and information sessions

IMPACT OF FOREIGN CAPITAL INFLOW ON ECONOMIC GROWTH IN NIGERIA

Iorgema Benjamin TYOHEN , Henry Ahmed EGGON, Joel Odonye OSEKWEYI — Thu, 17 Oct 2024 00:00:00 +0000

This study examined the impact of foreign capital inflows on economic growth in Nigeria from 1986-2022. Specifically, the study focused on the impact foreign direct investment, foreign portfolio investment and official development assistance on economic growth in Nigeria. The study adopted ex-post factor design, sourcing data from the central bank of Nigeria statistical bulletin, National Bureau of Statistics, World Bank data base, the Global Economy database and UN comtrade data base. The study employed the Vector Error Correction Model (VECM) for it estimation. The findings revealed that both foreign direct investment (FDI) and official development assistance (ODA), has positive and significant impact on real gross domestic product (RGDP). Conversely, foreign portfolio investment (FPI) has negative and insignificant impact on RGDP in Nigeria during the period under review. From the findings, the study concluded that foreign capital inflows are a veritable mechanism for attracting investments to developing economies like Nigeria for enhancement of economic growth. The study therefore, recommended that; for there to be sustained inflow of foreign capital in Nigeria government should pay attention on creating an environment that is conducive to attracting and facilitating foreign investors.

ECONOMIC DIVERSIFICATION: HARNESSING THE IMPACT OF SMALL AND MEDIUM ENTERPRISES ON ECONOMIC GROWTH IN NIGERIA

A. Tunde EDOBOR , Egbuta UGWUMBA, Nkiru Ruth OKPALA — Thu, 17 Oct 2024 00:00:00 +0000

The study examines the contribution of Small Medium Enterprises (SMEs) on the Economic diversification of Nigeria, using data between 1983 and 2023. The study employed Autoregressive Distributed Lag (ARDL) model, Co-integration to establish the short and long-run relationship between the role of Small Medium Enterprises on Economic Diversification of Nigeria. Stationarity test carried out using Augmented Dickey Fuller (ADF) revealed that all the variables were stationary at first difference 1(1), implying that the variables contains unit root and statistically significant at both 1% and 5% level of significance. The results of the study revealed that explanatory variables (inflation rate, small medium enterprises output, Deposit Money bank loan, and interest rate) were found to be positively sign and have significant relationship on the economic diversification of Nigeria both in short and long run. Deposit Money Bank loans and Small and Medium enterprises output significantly influence the role of small medium Scale enterprises on the diversification of the Nigeria economy with a P-value 0.0708<.0.05 and 0.0023<0.05 level of significance respectively. The study recommended that there is the need for government to make credit available towards financing of the Small Medium Enterprises (SMEs). Government should formulate and implement policies, such as reduction in tax rate/provision of incentives that would help to facilitate the growth of Small Medium Enterprises (SMEs) in Nigeria.

EFFECT OF ENTREPRENEURIAL FINANCING OPTIONS ON THE PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN KEBBI STATE, NIGERIA

Abdullahi Shamaki ABUBAKAR , Ibrahim KOLO , Isyaku Okpanaki IBRAHIM — Thu, 17 Oct 2024 00:00:00 +0000

This study examined the effect of entrepreneurial financing options on the performance of SMEs in Kebbi State, Nigeria. Utilizing a survey research design, with population of 1,927 out of which sample size of 331 registered SMEs determined using Taro Yamane formular and convenience sampling technique was used to select respondents. Data were collected through adapted questionnaire and analyzed using Partial least square structural equation modeling was employed to analyze the data collected. The study found that co-operative societies have positive and significant effect on SMEs performance in Kebbi State. While, commercial bank loans and government grants have positive but insignificant effect on SMEs performance Kebbi State. The study concludes that entrepreneurial financing options influence SMEs performance. The study recommends among others that SMEs operators in Kebbi State should improve on their financial management skills, including record-keeping, budgeting, and financial planning, to demonstrate their creditworthiness and effectively utilize commercial bank loans.

EFFECT OF TALENT MANAGEMENT ON EMPLOYEE PRODUCTIVITY IN FOODS AND BEVERAGE MANUFACTURING COMANIES IN NIGERIA

Shiebee Sunday IORGEMA — Thu, 17 Oct 2024 00:00:00 +0000

This study examines effect of Talent management on employee productivity in foods and beverage manufacturing companies in Nigeria. The study specifically examined the effect of talent attraction, talent development and talent retention on employee productivity in foods and beverage manufacturing companies in Nigeria. The study adopted survey design and questionnaire was used as an instrument for data collection .The population of the study consists of 4409 staff of the selected breweries in Nigeria. Multiple regression was used as a technique of data analysis. Findings of the study reveal that, talent attraction, talent development and talent retention positively and significantly influenced employees’ productivity of listed breweries, foods/beverage manufacturing organisations in Nigeria. The study recommended that, management of manufacturing companies such as foods and beverages in Nigeria should adopt favourable and competitive policies to attract talented employees and also provide training and development programmes to increase knowledge and skills of employees as well as favourable policies that will encouraged talent retention in the organization.

ACCOUNTING CHOICE AND EARNINGS QUALITY OF THE NIGERIAN OIL AND GAS INDUSTRY

J.M. KORNA, — Thu, 17 Oct 2024 00:00:00 +0000

This work studied the effect of accounting method choice on earnings quality in the Nigerian oil and gas industry. Specific objectives of the study included: to determine the effect of full cost and successful efforts accounting methods on earnings predictability, earnings persistence and earnings variability. Secondary were obtained from the director’s reports of annual financial statements of sampled companies. The ex-post facto research design was adopted to determine the effect for 8 oil and gas companies purposively selected for the period of 2006-2020. The panel regression model estimation technique was employed using the STATA computer software version 16.0 for statistical analysis. Findings revealed that full cost method of accounting had negative significant effect on earnings predictability, earnings persistence and variability while successful efforts method of accounting had positive insignificant effect on all dependent variable. It was recommended that managers of companies in the Nigerian oil and gas industry should adopt full cost method of accounting for their operations if higher earnings quality is to be achieved.

IMPACT OF RICE PRODUCTION ON POVERTY RATE IN USHONGO LOCAL GOVERNMENT AREA OF BENUE STATE, NIGERIA

Thu, 17 Oct 2024 00:00:00 +0000

This study evaluated the impact of rice production on poverty rate in Ushongo Local Government Area (LGA) of Benue State – Nigeria. The specific objectives of the study were to examine the impact of rice output, rice income and rice labour employment on poverty rate in Ushongo LGA of Benue State. A population of 628 was arrived at from a pre-survey conducted in the study area; where a sample size of 239 rice producers was drawn with the aid of the Krejcie & Morgan (1970) formula. The study adopted survey design through primary data, which was collected from rice producers in the study area with the aid of survey questionnaires. Descriptive statistical tools such as tables, simple percentages and charts were used for data presentation and analysis; the Logit Regression was employed to test the hypotheses of the study. Findings from the results of the logistic regression model show that rice output has a negative and significant impact on poverty rate and that rice income has a negative and significant impact on poverty rate. The findings also revealed that rice labour employment has negative and statistically significant impact on poverty rates in the study area. The study therefore recommended amongst others that policies and programmes should be implemented by government to support and incentivize increased rice production among farmers in the study area, and that efforts should be made to diversify income sources for rice producers, such as promoting value-added activities like rice processing, packaging, and marketing.