Application Of Fair Value Accounting (problem And Prospect) In Nigeria

ABSTRACT The determination of the overall growth of most cost depends on how efficient and effective the method of financial reporting is, and in the Nigeria case there are still lots of problems, challenges that have hindered the Nigerian financial reporting standard from attaining international status and these pose a greater challenge to implementation of fair value accounting in Nigerian financial system. Fair value accounting was a term applied widely in the 1980’s within the context of acquisition as a basis for the allocation of entry values and purchase goodwill, though it encountered …