FINANCIAL REPORTING AND COMPLIANCE OF IMPAIRMENT OF NON-CURRENT ASSETS IN THE NIGERIAN BANKS (Published)
The significant value in financial statement is denoted by the non –current assets. The implementation of the International financial reporting standard in Nigeria commenced in the year 2012 which insisted on the implementation of impairment of assets (IAS 36) and how the impairment loss should be recognised .According to Beisland, Hamberg and Navak, 2010 , one is not aware of any expansive study that has explored the subject of value relevance of accounting information in Nigeria., This study attempts to fill the gap in literature by assessing the disclosure of impairment of assets in Nigerian Banks. The objective of this study is to investigate the level of compliance of Nigerian banks with impairment of non – current assets (IAS 36) in their year 2012 financial reports and also the no of banks which disclosed additional information on significant impairment of assets on their financial statements for the year 2012 . For this study, eleven banks were selected out of the twenty two banks. The disclosure of impairment was analysed by using descriptive statistics. The results of the research showed an increase in the number of Banks which disclosed impairment losses as well as the value of impairment losses. It is expected that there will be an improvement in the extent of disclosure in the subsequent annual reports.