A DETAILED ANALYSIS OF FINANCIAL STATEMENTS AS VERITABLE TOOLS FOR EVALUATING COMPANIES’ PERFORMANCES IN NIGERIA.
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ABSTRACT
Accounting and business
information of organization are often contain in the financial statements of
various organizations, the financial statements- The Income Statement and
Financial Position(The Balance Sheet) which are stated in a summarized way in the financial statements. To a layman
it is just a mere book because the veil of accounting seem to have been placed
on it hence making no sense. To unveil the mask from the face of the financial
statements therefore the need to analyse financial statements therefore
inevitable. Therefore, to efficiently memorize the performances of companies
the need to diagnose their financial statement (analyse the financial
statements). This research work is carried out to analyse financial statements
as a inevitable tool to evaluate companies performances in Nigeria with a particular reference
to Zenith Bank PLC. This research work which has been carried out judiciously
and systematically made use of both primary and secondary sources of data
collection. The primary data priority made use of Questionnaire while the
secondary data made use of Zenith Bank PLC Annual financial Report(2009) and
other relevant journals. The primary data where analysed using chi-square, and
percentages while the secondary data were analysed using regression on the five
(5) years financial summary of the Bank.
information of organization are often contain in the financial statements of
various organizations, the financial statements- The Income Statement and
Financial Position(The Balance Sheet) which are stated in a summarized way in the financial statements. To a layman
it is just a mere book because the veil of accounting seem to have been placed
on it hence making no sense. To unveil the mask from the face of the financial
statements therefore the need to analyse financial statements therefore
inevitable. Therefore, to efficiently memorize the performances of companies
the need to diagnose their financial statement (analyse the financial
statements). This research work is carried out to analyse financial statements
as a inevitable tool to evaluate companies performances in Nigeria with a particular reference
to Zenith Bank PLC. This research work which has been carried out judiciously
and systematically made use of both primary and secondary sources of data
collection. The primary data priority made use of Questionnaire while the
secondary data made use of Zenith Bank PLC Annual financial Report(2009) and
other relevant journals. The primary data where analysed using chi-square, and
percentages while the secondary data were analysed using regression on the five
(5) years financial summary of the Bank.
Conclusively, it was established that
financial statement analysis serves as a veritable tool for evaluating
companies performances in Nigeria.
financial statement analysis serves as a veritable tool for evaluating
companies performances in Nigeria.
TABLE OF CONTENTS
Title i
Certification iii
Dedication iv
Acknowledgements v
Abstract ix
Table of Contents xi
CHAPTER
ONE
ONE
1.0
Introduction 1
Introduction 1
1.1 Background
to the Study 1
to the Study 1
1.2 Statement
of the Problem 5
of the Problem 5
1.3 Objectives
of the Study 6
of the Study 6
1.4 Significance
of the Study 7
of the Study 7
1.5 Research
Questions and Hypotheses 8
Questions and Hypotheses 8
1.6 Research
Methodology 9
Methodology 9
1.7 Scope
and Limitations of the Study 10
and Limitations of the Study 10
1.8 Definition
of the Study 11
of the Study 11
1.9 Organization
of the Study 13
of the Study 13
End of Chapter References 15
CHAPTER
TWO
TWO
2.0 Literature
Review 16
Review 16
2.1 Research
into Current Literature 16
into Current Literature 16
2.2 Conceptual
Explanation 17
Explanation 17
2.3 Parties
Interested in Financial Statements 18
Interested in Financial Statements 18
2.4 Objectives
of Financial Statement Analysis 20
of Financial Statement Analysis 20
2.5 Sources
of Information for Financial Statements Analysis.21
of Information for Financial Statements Analysis.21
End
of Chapter References 67
of Chapter References 67
CHAPTER
THREE
THREE
3.0 Research
Methodology 69
Methodology 69
3.1 Research
Forces 69
Forces 69
3.2 Research
Instruments 70
Instruments 70
3.3 Restatement
of Research Question/Hypotheses 71
of Research Question/Hypotheses 71
3.4 Description
of the Population and Sample of the Study 72
of the Population and Sample of the Study 72
3.5 Sources
of Data Collection 74
of Data Collection 74
3.6 Description
of Questionnaire 75
of Questionnaire 75
3.7 Methods
of Data Analysis 76
of Data Analysis 76
End of Chapter
References 77
References 77
CHAPTER
FOUR
FOUR
4.0 Data
Analysis, Interpretation and Discussion of Findings 78
Analysis, Interpretation and Discussion of Findings 78
4.1 Interpretation
of Items 78
of Items 78
4.2 Analysis
of Questionnaires on Personal Bio
of Questionnaires on Personal Bio
Data of Respondents 79
4.3 Analysis
of Questionnaire on Analysis of Financial
of Questionnaire on Analysis of Financial
Statements as a Vital
Tools for Evaluating Companies
Tools for Evaluating Companies
Performances in Nigeria 84
4.4 Text
of Hypotheses 95
of Hypotheses 95
End of Chapter
References 108
References 108
CHAPTER
FIVE
FIVE
5.0 Summary,
Conclusion, Recommendations and Suggestion
Conclusion, Recommendations and Suggestion
for Further Studies 109
5.1 Summary 109
5.2 Conclusion 111
5.3 Recommendations 112
5.4 Suggestions
for Further Studies 113
for Further Studies 113
End of Chapter
References 115
References 115
Bibliography 116
Appendices (Questionnaires)
119
119
CHAPTER
1
1
1.0 INTRODUCTION
1.1 BACKGROUND TO THE STUDY
Financial
statements of any company is basically the summarized financial reports which
provide the operating results and financial position of companies, and the
detailed information contained therein is useful for assessing the operationa
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