The Impact of Accounting Literature in the Development of Accounting Theories in Nigeria

摘要

Accounting as practice has existed since the earliest times of humanity. Therefore, the purpose of this paper is to take a historical look of accounting development from ancient periods to the present which is based on historian’ records and archeologist. This study used secondary data with the use of survey research approach. Stratified sampling technique is used for the selection of the twenty-five (25) companies proportionally across the quoted companies in Nigeria. The hypotheses were tested at 5 per cent level of significant. Findings revealed that positive accounting literature has significant impact on accounting theories and that accounting theory has significant relationship with the financial reporting of quoted companies in Nigeria. It is recommended that quoted organizations should ensure there is consistency in the accounting theory adopted in preparation of their records.