https://accountingjournal.umyu.edu.ng/index.php/ujafr/issue/feed UMYU Journal of Accounting and Finance Research 2025-03-27T11:01:31+00:00 Prof. Muhammad Aminu Isa jafr.accounting@umyu.edu.ng Open Journal Systems <p>UMYU-JAFR is a peer-reviewed journal published bi-annually (January and July) by the Department of Accounting, Faculty of Social and Management Sciences, Umaru Musa Yar’adua University, Katsina. It is dedicated to the advancing and disseminating of original research papers and review articles in areas of accounting and financial management in accordance with international scientific or scholarly standards. The subjects of coverage include but are not limited to: Regulatory procedures in auditing, taxation, investments, financial reporting, financial management and business analysis. UMYU-JAFR also covers theoretical and empirical analysis relating to financial reporting, auditing standards, tax administration and management, public sector financial management, performance management, accounting information system, entrepreneur financing and business performance, asset pricing, financial markets and institutions, corporate finance, and corporate governance.</p> <p><strong>Professor Muhammad Aminu Isa.</strong></p> <p><strong><em>Editor-in-Chief</em></strong></p> https://accountingjournal.umyu.edu.ng/index.php/ujafr/article/view/127 Effect of Fuel Subsidy Removal on Students’ Academic Performance in Tertiary Institutions in Sokoto State: A Study of Usmanu Danfodiyo University, Sokoto 2025-01-21T10:24:19+00:00 Garba Fodio gfodiyo@gmail.com Idris Sa’idu gfodiyo@gmail.com <p><em>The paper examined the effects of fuel subsidy removal</em> <em>on students’ academic performance of students of Usmanu Danfodiyo University, Sokoto, with particular reference to the students of Faculty of Management Sciences of the University. The study uses descriptive survey research design. The study population consists of 1146 students of the Faculty of Management Sciences. Kriejie and Morgan (1970) table for determining sample was used to arrive at a sample size of 291 respondents, which were selected using stratified and simple random sampling techniques. A structured questionnaires based on five Likert scale rating was used to collect data. Descriptive statistic was used to analyze the data while corresponding hypotheses were tested at 0.05 level of significance. The findings indicate a significant correlation between fuel subsidy removal and decreased academic performance. The study concludes that the removal of fuel subsidies has profound and far-reaching implications for students in higher education, necessitating urgent attention from policymakers. The study recommends the establishment of targeted financial aid programmes, enhanced academic support services and increased mental health resources to ensure that students can effectively navigate the challenges posed by fuel subsidy removal. </em></p> 2024-12-30T00:00:00+00:00 Copyright (c) 2025 UMYU Journal of Accounting and Finance Research https://accountingjournal.umyu.edu.ng/index.php/ujafr/article/view/124 Effect of Computerized Accounting System on Organisational Performance of Polytechnics in Ogun State Nigeria 2025-01-14T12:56:17+00:00 Hakeem Olayinka Onifade hakeemonifade@gmail.com Adetumilara Adepeju Adedire-Ampitan usciusciusci@gmail.com <p>The advent of Information and Communication Technology (ICT) has significantly transformed accounting and financial management practices. This study investigates the effect of a computerized accounting system on the organisational performance of polytechnics in Ogun State, Nigeria, with a focus on financial reporting, accountability, and operational efficiency. Specifically, the computerized accounting system is examined through its components: automated data processing, internal control, and automated reporting, while performance is assessed via financial reporting, accountability, and operational efficiency.The study adopts a survey research design, utilizing simple percentage analysis and regression techniques for data estimation, with statistical inferences drawn at a 5% significance level.The findings demonstrate that the adoption of computerized accounting systems significantly enhances the performance of the studied polytechnics. These systems improve financial reporting by ensuring reliability and generating comparative financial statements. They also bolster accountability through controls that prevent errors and irregularities in reporting. Furthermore, computerized accounting systems positively and significantly enhance operational efficiency.The study concludes that computerized accounting systems have a substantial positive impact on the performance of polytechnics. It recommends that institutions invest in computerized accounting technologies, including automated data processing, internal control, and reporting components, to optimize financial reporting, strengthen accountability, and enhance operational efficiency. Such investments are essential for streamlining operations, reducing costs, and improving overall institutional performance.</p> 2024-12-30T00:00:00+00:00 Copyright (c) 2024 UMYU Journal of Accounting and Finance Research https://accountingjournal.umyu.edu.ng/index.php/ujafr/article/view/116 Treasury Single Account and Revenue Generation in the Nigerian Maritime Industry: A Pre and Post Evaluation 2024-12-31T10:18:14+00:00 Olusesan Fashakin sesanfash@gmail.com Solomon Audu solomon.audu@calebuniversity.edu.ng <p><em>This study investigates the impact of the Treasury Single Account (TSA) policy on revenue generation in Nigeria's maritime sector, focusing on the Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigerian Shippers' Council (NSC). Introduced to promote financial transparency and accountability, the TSA policy is expected to influence the financial performance of public institutions. However, its specific effects on the maritime sector remain underexplored. The research evaluates TSA's impact on revenue generation, financial efficiency, and asset utilization using a quantitative design. Secondary data were collected from NIMASA and NSC, covering 2010 to 2019. The Difference-in-Differences (DiD) method was applied to compare the treatment group (NIMASA) with the control group (NSC). Rigorous data selection ensured validity, while reliability was established through consistency checks. A 100% response rate was achieved as all required data were sourced from relevant agencies. Findings reveal that the TSA policy positively influenced revenue generation and financial efficiency but negatively affected asset utilization. The study concludes that while TSA strengthens revenue management in the maritime sector, challenges in asset management persist. Recommendations include extending the study period, leveraging technology for enhanced TSA implementation, and analysing TSA's effects in other sectors to provide a comprehensive evaluation of its overall effectiveness.</em></p> 2025-02-16T00:00:00+00:00 Copyright (c) 2025 UMYU Journal of Accounting and Finance Research https://accountingjournal.umyu.edu.ng/index.php/ujafr/article/view/137 Determinants of Generalized Audit Software (Gas) Adoption by External Auditors in Nigeria 2025-03-27T09:33:31+00:00 Shamsudeen Shagari Ladan jjaaffrr@gmail.com Mahmoud Ibrahim jjaaffrr@gmail.com Isah Gambo jjaaffrr@gmail.com <p><em>This study focuses on small and medium sized audit firms in the North Eastern Nigeria. Registered auditors licensed by ICAN and ANAN have been selected as a sample, The objective of the study is to Determined Generalized Audit Software (GAS) Adoption by External Auditors in Nigeria The research framework was developed based on the Technology-Organization-Environment (TOE). Using the TOE framework as a theoretical lens, quantitative data was sought from a survey of external auditors through self-administered questionnaires while SEM PLS and descriptive analyses were employed for the purpose of data analyses. This study tested the hypothesis between variables by using path analysis, while the dependent variable in this study is the adoption of audit technology which refers to audit technology used to support audit process. While, the independent Variables has three sets, the first set of independent variables is the technological context proxies by Relative advantage, and Technology comparability adopted for measuring technological context. The second sets is the Organisational Context proxies by Top Management commitment and Human resources IT competency The Environmental context is the last set of Independent Variables i.e competitive pressure and professional Accounting Body are their proxies The findings of the study revealed that competitive pressure, human resource competency, and technology compatibility positively influence audit technology adoption, while professional accounting body affiliation, relative advantage, and top management commitment do not significantly influence it. This imply that audit firms can focus more on enhancing competitive pressure, human resource competency, and technology compatibility to promote audit technology adoption effectively. The findings also revealed a positive relationship between Audit technology adoption and Generalized Audit software The findings offer valuable insights to management, policy makers and regulators on ways to improve the adoption and use of GAS particularly by external. GAS developers should collaborate with external auditors to enhance the compatibility of GAS applications This research contributes to existing adoption theory by extending the understanding of the impact of factors unique to GAS adoptions.</em></p> 2024-12-30T00:00:00+00:00 Copyright (c) 2024 UMYU Journal of Accounting and Finance Research https://accountingjournal.umyu.edu.ng/index.php/ujafr/article/view/119 Digital Currency and Nigerian Economic Growth 2024-12-31T09:53:19+00:00 Hussein Olamilekan Ajibola jblhussein@gmail.com Oludare Olakunke Fasina oludare.fasina@federalpolyilaro.edu.ng Sherif Babajide Balogun babajide.balogun@federalpolyilaro.edu.ng <p><em>There are several issues and solutions regarding the theoretical connection between digital money and economic growth. There are issues with digital currency's distribution, stability, and compatibility with fiat money. Although this structure theoretically allows stability of price, however, sensible monetary regulation and its effective distribution continue to be more pressing concerns.</em> <em>The study examined how digital currency affects Nigeria's economic growth. The average annual value of bitcoin (BTC) and Binance coin (BNB) were used to analyze digital currency, while the gross domestic product was used to gauge economic growth. Ex-post facto method was adopted by the study. Data from secondary sources spanning a decade (2014–2023) was used in the study. However, data on the gross domestic product was taken from the CBN Statistical Bulletin, while the metrics of digital currency (BTC and BNB) were taken from Coinmarketcap online platform. Descriptive statistics, correlation and panel regression analysis were used to examine the collected data. According to the results, there was no discernible impact of either Bitcoin or Binance on the GDP of Nigeria between 2014 and 2023. The analysis concludes that the average value of bitcoin and binance coins has no significant effect on Nigeria's GDP. As a result of this, when thinking about regulating cryptocurrencies, the Nigerian government was advised to implement safeguards against the currency's extreme volatility and susceptibility to illicit activity in the country.</em></p> 2025-02-16T00:00:00+00:00 Copyright (c) 2025 UMYU Journal of Accounting and Finance Research https://accountingjournal.umyu.edu.ng/index.php/ujafr/article/view/120 Environmental Performance and Value of Listed Industrial Goods Firms in Nigeria: Mediating through Financial Performance 2025-01-06T10:55:31+00:00 Moses Babatunde Olanisebe walemose@gmail.com Kabir Ibrahim kabiribrahim22@gmail.com Fadheela Uba Jahun fjahoon.86@gmail.com <p><em>This study examined the mediating effect of financial performance on the relationship between environmental performance and value of listed industrial goods firms in Nigeria. Data for the study was extracted from the annual reports and accounts of the sampled firms for the period of fourteen (14) years (2010-2023). The data collected was analyzed using descriptive statistics to provide summary statistics for the variables, while correlation analysis was carried out to assess the correlation between the dependent and explanatory variables. Structural Equation Modeling (SEM) was used to estimates the relationship between environmental performance and firm value, and subsequently, to test significance of indirect effects the path model (Monte Carlo simulation) approaches was employed for mediation analysis. The study found that Employee Health and Safety Cost (EHSC) one of the proxies of environmental performance influences financial performance. More so, Staff Development Cost (SDC) as proxy for environmental performance affects value of listed industrial goods firms in Nigeria. In the same vein, financial performance has insignificant impact on firm value of the sampled firms and financial performance is not proven as a variable that mediates the relationship between environmental performances on firm value. The study recommends that the management of listed industrial goods companies in Nigeria should prioritize and invest in environmental initiatives, recognizing that strong environmental performance can directly enhance firm value. Finally, management should invest in staff training and development focused on sustainability can equip employees with the skills necessary to implement and manage environmental initiatives effectively.</em></p> 2024-12-30T00:00:00+00:00 Copyright (c) 2024 UMYU Journal of Accounting and Finance Research https://accountingjournal.umyu.edu.ng/index.php/ujafr/article/view/131 An Evaluation of Listed Deposit Money Banks in Nigeria's Degree of Adherence to International Financial Reporting Standards Seven (IFRS 7) 2025-01-22T15:52:27+00:00 Abdulkadir Ladan Aminu kabirudambuwa@gmail.com Kabiru Dambuwa Mande usciusciusci@gmail.com Nasiru Kaoje Abdulsalam usciusciusci@gmail.com <p><em>This study focuses on analyzing the level of compliance and effects of IFRS 7 on the operations of DMBs in Nigeria. The study further evaluates how effectively IFRS 7 has influenced banks financial reporting, risk management strategies and overall transparency in financial disclosure. Data were sourced from annual accounts and reports of listed DMBs for a period of 10 years, spanning from 2011 to 2020. The entire 14 Nigerian deposit money banks listed on the Nigerian Stock Exchange as of 2020 served as population of the study. The study tested the baseline assumptions using the Ohlson regression model and examined the relationship between financial performance and IFRS7 disclosure using multiple regression. To meet the requirements for a Best Linear Unbias Estimate (BLUE), the study also conducted diagnostic tests such as the variance inflation factor (VIF) test. The study comes to the conclusion that book value per share is more value-relevant and price-sensitive than earnings per share when comparing the degree of compliance between high and low levels. The study recommends uniform regulation quality and enforcement to improve accounting information disclosures by business entities in Nigeria, particularly listed financial institution in Nigeria.</em></p> 2024-12-30T00:00:00+00:00 Copyright (c) 2025 UMYU Journal of Accounting and Finance Research https://accountingjournal.umyu.edu.ng/index.php/ujafr/article/view/126 Institutional Quality and Macroeconomic Policies Impact on Domestic Private Investment Evidence from High, Middle and Low-Income Countries 2025-01-20T09:48:12+00:00 Shuaibu Musa Galli gallishuaibumusa@gmail.com Muftau Olaiya Olarinde muftomi@gmail.com <p>The study examined the impact of institutional quality (proxy by an index of six governance indicators and property rights index) and macroeconomic policies on domestic private investment (DPI) proxy by gross fixed capital formation, utilizing annual panel datasets spanning from 2005 to 2021 across sixty countries of the globe with varying income levels. The study adopts Principal Component Analysis (PCA) to develop an index for quality of governance and dynamic GMM approach for the analysis. The study findings revealed that quality of governance's impact on DPI is evident in high and middle-income economies (0.40089 and -0.00216), and property rights have a significant impact (-0.00767) solely in the low-income group at a 1% significance level. Macroeconomic variables highlight GDP's influence (0.01962) in the high-income groups, trade openness (5.07281 and 0.12511) in high and low-income countries at 1% and 5% significance levels, and exchange rate affects (-0.03487, and 0.01694) in the middle, and low-income economies, respectively. For the crowding effect, FDI positively crowd-in DPI (0.30389) in middle-income economies at 1% significance levels, whereas the crowding-out effect is evident in high-income countries (-0.18799) at 5% level of significance. In conclusion, enhancing governance quality, implementing sound monetary and fiscal policies, reducing trade barriers, promoting free trade, and facilitating technology transfer to local investors are vital steps to stimulate private sector participation in economic growth and mitigate the crowding-out effects of FDI on DPI.</p> 2024-12-30T00:00:00+00:00 Copyright (c) 2024 UMYU Journal of Accounting and Finance Research https://accountingjournal.umyu.edu.ng/index.php/ujafr/article/view/118 Government Integrated Financial Management Information System (GIFMIS) and Public Debt Management in Nigeria 2025-01-02T15:16:50+00:00 Godwin Nicholas Igoche igocheg@yahoo.com Alematu Agbo agboalematu@gmail.com <p>This study investigated the relevance of GIFMIS in the management of public debt in Nigeria. GIFMIS is presented as dummy variables (0) and (1) for periods before and after GIFMIS, respectively. Debt management is represented by debt service expenditure for eighteen (18) fiscal years (2003-2021), covering nine years (2003-2011) prior to (2012) and nine years (2013-2021) after (2012) GIFMIS implementation in Nigeria. Expost-Facto research design was used, and Auto-Regressive Distributed Lag (ARDL) was estimated using the Ordinary Least Squares (OLS) approach. The statistical package used for analysis is e-view 10.0. The R-squared coefficient suggested that the change in GIFMIS caused an 8.73% shift in debt management. The impact of GIFMIS on Nigerian debt management was determined to be beneficial but not significant. This suggests that the implementation of the GIFMIS program, resulted in a positive boost in debt management in Nigeria, with a 41.25% increase at an insignificant rate. It consequently determined that GIFMIS is of paramount importance in debt management in Nigeria based on the difference it has made within the short period of its adoption in debt management in Nigeria. Finally, the report recommends that more efforts be directed towards extending the implementation of technological innovations in Nigeria to enhance accountability and transparency in development planning, budgeting, and debt management.</p> 2024-12-30T00:00:00+00:00 Copyright (c) 2024 UMYU Journal of Accounting and Finance Research https://accountingjournal.umyu.edu.ng/index.php/ujafr/article/view/123 Evaluating the Influence of Social Media Marketing on the Performance of Small Businesses in Birin Kebbi, Kebbi State, Nigeria 2025-01-06T11:53:56+00:00 Muhammad Nura Ashafa ashafanura@wufpbk.edu.ng Umar Usman umarusman4646@gmail.com Saidu Ibrahom ibrahimsihab1@gmail.com <p><em>Small businesses have faced significant challenges in advertising their products and services through traditional media outlets and newspapers due to high costs, movement restrictions during the pandemic, and advancements in technology. This shift has led to a growing acceptance of digital marketing strategies. On the basis of the forgoing, this paper examines the influence of social media marketing on the performance of small businesses in Birnin Kebbi, Kebbi State, Nigeria. Utilizing survey data collected from a sample of 242 participants and applied Partial Least Squares Structural Equation Modeling (PLS-SEM) to analyze the relationships between various dimensions of social media marketing—including email marketing, content marketing, and search engine optimization (SEO)—and key performance indicators for small businesses. The findings revealed that email marketing significantly enhances small business performance while social media marketing was found to negatively affect performance. Additionally, the content marketing and SEO did not show significant impacts on small businesses in Birnin Kebbi. Based on the findings from the study, small businesses should prioritize email marketing to enhance performance by fostering strong customer relationships through personalized content. To mitigate the negative effects of social media marketing, a more strategic and targeted approach is needed, ensuring alignment with business goals and customer preferences. This includes refining audience targeting, optimizing posting frequency, and improving interaction quality. Although content marketing and search engine optimization did not show significant impacts, businesses should integrate these elements into a comprehensive marketing strategy that complements email and social media initiatives.</em></p> 2025-02-16T00:00:00+00:00 Copyright (c) 2025 UMYU Journal of Accounting and Finance Research https://accountingjournal.umyu.edu.ng/index.php/ujafr/article/view/128 Board Composition and Earnings Management in Listed Industrial Goods Firms in Nigeria 2025-01-21T12:46:59+00:00 Daniel Daniel Monday rabusomwan@biu.edu.ng Beauty E Jackson-Akhigbe rabusomwan@biu.edu.ng Rachael E Abusomwan usciusciusci@gmail.com <p>This study examined the impact of board composition on earnings management in listed industrial goods firms in Nigeria from <strong>2014-2023</strong>.The study’s aim and objective were to examine the impact of board composition on earnings management in listed industrial goods firms in Nigeria so as to validate or invalidate previous literatures. The research used secondary data from annual reports and analyzed it using descriptive statistics and multiple regression analysis. The scope of the study is ten <strong>(10)</strong> years and the companies selected were based on being listed on the stock exchange group of Nigeria. The findings stated that, Board independence had a positive but non-significant impact on earnings management. Board size and board meetings both had negative but non-significant impacts. Board gender mix also had a negative but non-significant impact. Which provide insights for policymakers and stakeholders regarding the role of board composition in constraining earnings management practices in this sector. The recommendation states that an increase in board independence is associated with an increase in earnings management should be regulated.</p> 2025-02-16T00:00:00+00:00 Copyright (c) 2025 UMYU Journal of Accounting and Finance Research https://accountingjournal.umyu.edu.ng/index.php/ujafr/article/view/138 Artificial Intelligence and Risk Management of Deposit Money Banks in Nigeria: Empirical Evidence from Guaranty Trust Bank 2025-03-27T11:01:31+00:00 Adetumilara Adepeju Adedire-Ampitan adedireadetumilara@gmail.com Sekinat Doyinsola Logunleko jjaaffrr@gmail.com Bolanle Olubunmi Amusa jjaaffrr@gmail.com Hakeem Olayinka Onifade jjaaffrr@gmail.com <p><em>Risk management remains a persistent challenge for deposit money banks in Nigeria due to systemic vulnerabilities such as fraud, credit default, and operational inefficiencies. Traditional risk management methods often fall short in effectively identifying and mitigating these risks, resulting in financial losses and instability. Artificial intelligence (AI) presents a transformative opportunity to address these issues by enhancing precision, efficiency, and responsiveness in risk assessment and mitigation processes. However, the adoption of AI in Nigerian banks remains limited, with efforts focused more on infrastructure upgrades than on leveraging AI for advanced decision-making and risk management. The study employed a survey research design, utilizing estimation techniques such as simple percentages and regression analysis to analyze the effect of artificial intelligence on risk management of Guaranty Trust bank in Nigeria. The findings underscore a significant positive impact of AI adoption, AI-driven credit scoring, and AI-based fraud detection on risk management in these banks, emphasizing the importance of integrating AI into operational processes to achieve transformative effects in the Nigerian banking sector. The study recommends that regulators should ensure effective compliance with AI regulations that align with global standards. Additionally, ethical considerations, including data privacy and transaction security concerning AI adoption, should be carefully addressed by banks.</em></p> 2024-12-30T00:00:00+00:00 Copyright (c) 2024 UMYU Journal of Accounting and Finance Research https://accountingjournal.umyu.edu.ng/index.php/ujafr/article/view/132 The Impact of Internally Generated Revenue on Service Delivery in Sokoto State 2025-01-22T17:19:56+00:00 Mande Dambuwa Kabiru kabirudambuwa@gmail.com Abdulkadir Ladan Aminu usciusciusci@gmail.com Yahaya Yusuf usciusciusci@gmail.com <p><em>The study examine the importance of internally generated revenue (IGR) on service delivery in Sokoto state. The study employed both primary and secondary methods of data collection. Primary data were obtained from the officials of the state board of internal revenue, while secondary data were sourced from the state’s financial statements and reports.The study used regression analysis and correlation coefficients to evaluate the level of relationship between the variables. The finding, highlights how little internally generated revenue affects Sokoto State's service delivery, the inefficiencies and offering potential solutions. The study suggests that Sokoto State should enhance its IGR policy direction in order to provide good and services to the peoples. The study also recommended using all of the IGR's components to finance Sokoto State's capital expenditures, to lessen the impact of declining Federation account allocation.</em></p> 2025-02-16T00:00:00+00:00 Copyright (c) 2025 UMYU Journal of Accounting and Finance Research https://accountingjournal.umyu.edu.ng/index.php/ujafr/article/view/133 Financial Stability as a Catalyst for Sustainable Growth in Nigerian Oil and Gas Companies: A Z-Score Analysis 2025-02-15T22:36:27+00:00 Ayoola Azeez Olaoye ayoola_olaoye@gmail.com John Ayodele Adekanmbi adekanmbi.john@bouesti.edu.ng Solomon Olurotimi Awe awe.olurotimi@bouesti.edu.ng <p><em>This study investigates the role of financial stability in fostering sustainable growth in Nigerian oil and gas companies. The study gathered secondary data from the financial records of listed Nigerian oil and gas businesses from 2014 to 2023 using the Altman Z-Score model. A sample of seven (7) oil and gas businesses was selected using a purposive sampling technique. For data estimate, Altman Z-Score analysis, regression analysis, principal factor analysis, and correlation tests were used. The Z-score analysis's findings show that the sampled companies have a modest level of financial stability; their mean Z-score of 4.43 suggests that they are not in imminent danger of going bankrupt. The findings also show that the main factors influencing these companies' financial stability are profitability, growth in retained earnings, and working capital management. Based on the Z-scores, the study came to the conclusion that Nigerian oil and gas companies are financially stable. The Z-score model was verified in this study as a useful instrument for assessing the financial stability of businesses. The study determines how the components of the Z-score model affect the financial stability of oil and gas firms in Nigeria. According to the report, in order to maintain financial stability and increase liquidity, oil and gas businesses' management should give priority to effective working capital management techniques.</em></p> 2024-12-30T00:00:00+00:00 Copyright (c) 2024 UMYU Journal of Accounting and Finance Research