Impact Of International Financial Reporting Standards (ifrs) On Small And Medium Scale Enterprises In Nigeria

Abstract This study sought to establish the relevance of International Financial Reporting Standard (IFRS) to small scale enterprises in Nigeria. The international accounting standard board (IASB), in its objectives and preamble, suppose that the beneficial effects from IFRS adoption include transparency, accounting quality and reduced cost of capital. Based on these assumptions, this study applied timeliness, simplicity/ understandability, quality, transparency and comparability to find out whether the adoption of IFRS has relevance to small scale enterprises in Nigeria. The study employed mu…