The predicament that befell the entire world as a result of the Covid 19 has been a matter of concern researchers. This paper hereby examines the effects of COVID-19 pandemic on accounting and financial reporting in Nigeria. The objectives of this paper are to ascertain the differences between the published financial reporting before and during COVID-19 era; determine how firms in Nigeria reported events after the reporting period during the COVID- 19 era as recommended by the Financial Reporting Council; ascertain the extent to which COVID-19 affects the going concern of firms in Nigeria; determine how COVID-19 affects the interim financial reporting affected; and to examines how firms in Nigeria reported changes in expected credit losses for financial assets as stated in the guideline recommended by Financial Reporting Council during COVID-19 era. The study employs cross-sectional approach where data were collected at a particular point in time from different companies. Secondary financial data was collected from multiple sample sources to ensure a fair representation, namely: The Manufacturing sector, financial sectors and conglomerates of the Nigerian economy. Independent t-test and Logit Binary Regression Model was employed to test the hypotheses of the study using SPSS version 25. This paper revealed that there is significant difference between the published financial reporting before and during COVID-19 era; COVID-19 has significant effect on the events after the reporting period, going concern of firms in Nigeria, interim financial reporting, and COVID-19 has significant effect on changes in expected credit losses for financial assets. Arisen from the findings of this study, this paper recommended that management of industries should embrace all the COVID-19 precautions, and government should salvage this devastating effect of COVID-19 by channelling more funds to the sectors affected by the pandemic.
Citation: Raimi Adekunle ANISERE-HAMEED (201) Effects of COVID-19 pandemic on accounting and financial reporting in Nigeria, European Journal of Accounting, Auditing and Finance Research, Vol.9, No. 6, pp.50-63
The Covid-19 Pandemic and the Questioning of the Principle of the Human Development Index (Published)
The covid19 epidemic has definitely affected nearly all economic and social activities across the world, in addition to its destructive and fatal impacts. As a result, estimates for global economic growth have been lowered downward. Furthermore, the pandemic scenario has pushed scientific study in new areas in order to discover answers to the new problems that have arisen as a result of the epidemic. We have questioned the idea of calculating the human development index (HDI) in this context, while providing new assessment criteria judged useful and compatible with pandemic conditions to evaluate sub-dimensional development indicators pertaining to health, education, and income. As a result, we have shown that the environmental dimension is necessary for measuring the progression of the HDI, allowing us to offer a novel HDI calculation formula.
This paper reviewed the impact of the COVID-19 pandemic on education by preliminary document studies. In Cambodia, as of 30 October 2020, school closures replaced by distance learning. First, the paper highlighted the immediate impact on student learning and wellbeing, mostly kids. Second, it illustrated teachers and school personnel are facing on adapting with ICT skills to support distance learning. Third, it showed ineffective delivery of continuous learning and learning outcomes are not quite well and limit for quality of education. Finally, it stated the implementation of the Ministry of Education Youth and Sports (MoEYS) Education Strategic Plan (ESP) 2019-2023 is also severely impacted by the pandemic. To address these challenges, MoEYS developed learning platforms and continue learning programs for line learning. The Joint Technical Working Group (JTWG), MoEYS and ESWG created objectives for the Education COVID-19 Response Plan. MoEYS is planning to reopen educational institutions in three phases with the strictest health safety standards by blended learning following the Standard Operating Procedures (SOPs) for the condition of Covid-19. The paper recommended that the government and MoEYS and stakeholders should respond to the situations during the Covid-19 pandemic: i). The continuous learning program should be strengthened as a priority for online learning with social media to ensure effective learning; ii). The digital infrastructure should be promoted in the countryside and remote areas to strengthen online learning with the platforms of MoEYS; iii). The ICT skills and digital education should be strengthened by providing training and development to teachers to ensure effective online learning; and teachers and students engagement, and iv). The content and curriculum on paper should be adapted and replaced by digital form to ensure effective learning and teaching.
A Comparative Evaluation of the Effect of the Outbreak of Covid-19 on Selected Legal Rights in Nigeria (Published)
There is no gain saying the fact that the outbreak of the corona virus; which spread over the globe like wide fire; is the worst calamity that has hit mankind since the second war. The virus, otherwise tagged Covid-19 has infected so many people and caused several deaths all over the world. This awful pandemic has affected not just lives; but all spheres of human endeavours ranging from the health sector to food and agriculture, migration and tourism, education, international commerce, environment and legal rights; to mention but a few. This paper critically examined the effect of the pandemic on some selected basic and constitutional rights with Nigeria as the focal geographical scope of the study, while drawing comparative analysis from the developments in some other countries. Relying on the exploratory doctrinal methodology and secondary sources of information, the paper found that the pandemic has inhibited the full enjoyment of basic rights; including fundamental rights, a situation which citizens have been compelled to accept. The paper further found that this period has witnessed a high level abuse of human rights as well as some other legally cognized basic rights. The paper condemned total deprivation and violation of such rights under any guise and concluded by suggesting ways how this pandemic period could be managed with citizens continually enjoying their basic and constitutional rights.
This paper hinges on the consequences of the Coronavirus (COVID-19) Pandemic on Nigeria’s entertainment industry. It argues that since the outbreak of the pandemic, it has constituted various challenges in different sectors since it led to the total shutdown of the world’s economy including Nigeria. This was the first time in the history of humankind that all the worship centers in Nigeria were closed down to curtail further spread of the virus. The pandemic also affected drastically the educational activities, business activities, tourism, and even the entertainment industry. Given the grave consequences arising from the outbreak of COVID-19, a lot of studies were conducted by scholars of different disciplinary backgrounds to find out ways of containing the spread of this deadly disease. However, most of these studies rather generalized the effects of Covid-19 on the nation’s economy. As a departure from other academic works, the study, therefore, confines itself to discuss the debilitating effects of COVID-19 on Nigeria’s entertainment industry. Using the documentary method of data collection and social distance theory, the paper reveals that the pandemic has affected the entertainment industry thereby retarding the development of the sector. The study concludes that, for the industry to be stable and vibrant, the further spread of the pandemic must be regulated. In this wise, the paper recommends amongst other measures like social distancing, regular washing of hands, and the prohibition of large gatherings as part of the ways to reduce the spread of the virus.
Future anxiety among Jordanian university students during the Corona pandemic in light of some variables (Published)
The present study aimed to identify the level of future anxiety among Jordanian university students during the Corona pandemic, as well as to identify the differences in levels of anxiety among university students in the absence of a number of variables. The study sample, who numbered (321) male and female undergraduate students at public universities in northern Jordan, the study found that the level of anxiety of Jordanian university students was high, and the study also found that there are differences in levels of anxiety among university students due to gender. The existence of differences attributed to each of the variable of the college and the academic year, and the study recommended a number of recommendations, the most important of which were: The need to conduct other studies on a larger scale to identify the real reasons behind the high level of anxiety among Jordanian university students.
The present paper discusses the economic features of the current Covid-19 outbreak and its relation to labor markets and new skills in demand. It mainly focuses in analysing the recent global trends in affected sectors, examines the current unemployment issues while deepens in the kind of new skills and soft skills in demand that are necessary for an easier transition to the new Covid-19 way of life.
Media Dependency and Information-Seeking Behaviour of Uyo Residents during the Covid 19 Pandemic in Nigeria (Published)
This study examined media dependency and information-seeking behaviour of Uyo residents during the Covid-19 pandemic in Nigeria. The study adopted the survey research method with questionnaire as an instrument for gathering data. The population of the study comprised of Akwa Ibom State residents based on the 2018 National Population Commission (NPC) projected census figure of 2006 taken at 3.4% yearly growth rate which gave the figure as 4,828,267. The researcher adopted the multi-stage sampling technique to select respondents for the study. A sample size of 500 was chosen using Comprey and Lee’s sample guide. Out of 500 copies of the questionnaire distributed to respondents, 480 were returned and found useful for the study. The study found out that during health emergency situation like the covid-19 pandemic which was occasioned by anxiety, tension, fear and uncertainty, residents depended more on the media to obtain information that can help reduce tension and fear. The study recommends that the mass media should be objective, fair, honest and devoid of bias during health emergencies like covid-19 pandemic since a lot of media audience rely on them for health updates.
Covid-19 Pandemic Blessing or Affliction: Reflection on the Qur’ānic Imperative Acts in Their Pragmatic Perspective (Published)
The recent Coronavirus disease Covid-19 is the illness caused by a novel coronavirus and now called Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2; formerly called 2019-nCoV). The main focus of the present study is reflection on the Qur’ānic imperative acts in their pragmatic perspective. This global pandemic encompassed the whole world swiftly hence the world’s natural reaction to this epidemic is to guess and explore the root causes of this infectious disease. Different people have different opinions according to their religious teachings, experience, observation, background knowledge, social, and cultural perspectives. None can give a final word about its reasons as all such epidemics are Allah’s ‘Hikmah’ (wisdom) and only Allah Subhanahu wata’ala (SWT) knows His own intentions in such catastrophe and vast disaster. They may be interpreted as punishment of our evil deeds and at the same time realization and a reminder to return to the teachings of the Supreme Being and ultimate reward. Moreover, the suffering that reminds us of Allah (God) is better for our soul than His Blessings that result in His disobedience and thanklessness due to our love and attachment to this ephemeral world ignoring Allah Almighty’s guidance. The Holy Qur’ān and the Bible make it clear implicitly and explicitly that the disbelievers are generally punished and at the same time believers are tested. The disease of Hazrat Ayub (Job), a just man, is the best example (Al-Qur’ān 21:83). God allows natural disasters to happen because, in His infinite Wisdom, He knows that they can serve His purpose of bringing souls to eternal success. Out of evil Allah brings good.
Challenges of Utilising the Key Messages of Coronavirus Pandemic Campaigns in Akwa Ibom State, Nigeria (Published)
This study investigated the challenges of utilising the key messages of coronavirus pandemic campaign in Akwa Ibom State, Nigeria. Survey research design was adopted for the study while questionnaire was the instrument of data collection. The study was anchored on social cognitive theory and Health belief model. The population of the study comprised of residents of Akwa Ibom State, which according to 2018 projection of the National Population Commission census figure of 2006 was 5,828,267. The sample size of 400 was drawn using Taro Yamane’s sample size formula. The study found out that the level of awareness of the coronavirus pandemic campaign was high in the metropolis but low in rural communities. The study also found out that the level of compliance was very low. Moreso, the study found out that majority of respondents did not believe that coronavirus exist in Nigeria. The study recommends that awareness should not be left alone in the hands of government, individuals should be ready to save lives by promoting the campaign of coronavirus in the society.
Nigerians Perspectives on Covid-19 Pandemic and How It Affects Their Lifestyle and Financial Status (Published)
Covid-19 is a viral disease that originated from Wuhan province of China. The virus has rapidly crossed borders, infecting and killing people in many countries including Nigeria. Undoubtedly, the pandemic has massive impact on the activities of Nigerians, including social lifestyle and income. The age-long communal behavior of Nigerians, like attendance to religion gatherings, ceremonies, and sports, has been hampered due to covid-19 pandemic. Also, due to this pandemic, Nigeria´s economy has declined drastically. This study was conducted to understand the perspective of Nigerians about Covid-19, and how it affected their lifestyle and financial status. Method: An online survey was conducted using the combination of few open ended and closed ended questions to gather data from a total of 325 respondents in Nigeria. Results: Majority of the respondents had adequate knowledge about the Covid-19 infection, its preventive measures, and its mode of transmission. Furthermore, over half of the respondents admitted that the pandemic has adversely affected their social lifestyle and financial status. Conclusion: There is need for provision of financial assistance and distribution of palliatives to all Nigerians during this pandemic. The government should also ensure the safety of all citizens, as social vices increase amidst the pandemic. A policy against increment of price of commodities should be established and implemented.
Stylistic Analysis of President Buhari’s Addresses of Nigerians in the Face of Covid-19 Pandemic (Published)
The role of language in any speech event cannot be overemphasized. Language is the vehicle through which political speeches are carried out. This study investigated two speeches of President Muhammadu Buhari during the coronavirus (Covid-19) pandemic to ascertain how he has employed language, the linguistic elements used and the stylistic and pragmatic imports. Using the theoretical framework of stylistics, the researcher found out that Buhari tactfully used words to address Nigerians on Covid-19 and stressed the measures to be taken to contain the spread of the virus. To achieve the pragmatic effect of his speeches, he used lexical devices such as transitional makers, repetition, alliteration, assonance, pronouns to project the theme/subject matter of the language discourse. It was found out that the speaker used coordination to denote relationship of grammatical units, show contrast and as a re-statement of what he said earlier. The speaker repeatedly used coordination in his speeches and this is commendable since in language, identical items may be conjoined in an indefinite number of times. The analysis revealed that president is committed in combating the coronavirus pandemic that is ravaging his nation.
Background: The Pandemic COVID-19 disease is of great public health concern to the world. Its impact is globally felt in all sectors. There is need to measure the level of psychological impact the virus has on families of health care professionals. Method: Online survey was conducted to collect the demographic data from participants. Statistical analysis was conducted using R statistical package to determine Psychological impact of COVID-19 on the respondents. Results: The study included 324 respondents from different countries. Panic effect was the most strongly agreed (54.9%) and thus impacts more on the respondents. Depression was experience by 49.7% of the respondents’ while 44.4% experience anxiety. The least strongly agreed was suicidal effect (13.9%) and divorce (18.2%).Conclusion: Pandemics such as COVID-19 has psychological impact on families of health care professionals’ pandemics cannot lead to divorce easily but can lead to panic, anxiety and depression.
A scoping review on epidemiology, etiology, transmission, clinical presentation, treatment and management of coronavirus disease (COVID-19) (Published)
Coronavirus (COVID-19) is a highly infectious disease which has posed serious threats to global health. This viral disease was discovered in late December 2019, in Wuhan, China. Infection rates due to the pandemic amounts to over 1 million globally while death rate is over 80,000. The United States, Italy and Spain are epicenters of the disease and have recorded more deaths due to the viral infection than other countries. Since the virus is spreading worldwide, on March 11, 2020, the WHO officially described the COVID-19 outbreak as a pandemic. The virus is transmitted when people interact with each other for some time in close proximity. Precisely, this review aims to provide the evidence of early findings on the etiology, transmission, symptoms, treatment and management of COVID-19.Studies have recorded Covid-19 infection in asymptomatic patients and in those with visible symptoms. Elderly people, pregnant women, people with underlining illness and compromised immune system are very susceptible to COVID-19 than other categories of people, however, reports of deaths of people without history of underlining illness has led to controversies. The diseased due to the virus should try to seek appropriate medical help and limit their exposure to other unaffected persons. Currently, there are no vaccines for the pandemic, but the FDA has recommended hydroxyl chloroquine as a therapy for COVID-19. The likelihood of transmission can be reduced by practising hygienic measures. Frequent disinfection and cleaning are advised for groups that are at risk of contracting the virus.