the full history of account in Nigeria how it all started and various contributions from learned personels on accounting. the full history of account in Nigeria how it all started and various contributions from learned personels on accounting.
Accounting in Nigeria has evolved from traditional methods of record-keeping to modern professional practices influenced by British colonial legacy. The Institute of Chartered Accountants of Nigeria (ICAN) was established in 1965 to regulate the accounting profession in the country. Accounting standards in Nigeria have increasingly aligned with international best practices to improve transparency and accountability in financial reporting.
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The socially constructing perspective in accounting history focuses on how accounting practices are shaped by the social, political, and cultural context in which they exist. It emphasizes that accounting is not a fixed or neutral practice, but rather is influenced by the values, ideologies, and power dynamics of society at any given time. This perspective highlights the importance of understanding the broader social forces that shape accounting practices and norms.
Accounting theory has evolved over centuries as organizations sought ways to accurately record and report financial transactions. Key milestones include Luca Pacioli's publication of double-entry accounting in the 15th century, the establishment of the American Institute of Accountants in 1887, and the development of principles-based accounting standards like GAAP and IFRS in the 20th century. Today, accounting theory continues to adapt to the changing business environment and emerging technologies.
Company law in Nigeria traces its roots to the colonial era where laws from the British system were adopted. The first major legislation governing companies in Nigeria was the Companies Ordinance of 1912. Over the years, various company laws have been enacted to regulate the incorporation, governance, and operations of companies in Nigeria, such as the Companies and Allied Matters Act (CAMA) of 1990 and the recent CAMA Act of 2020 which introduced significant reforms to company law in Nigeria.
Accounting theory is a framework for understanding accounting principles and concepts, while IAS (International Accounting Standards) are specific guidelines and rules set by the International Accounting Standards Board for how financial statements should be prepared and presented. Accounting theory provides the foundation for accounting standards, including IAS, by guiding the development of principles and concepts used in accounting practice.
The historical background of taxation in Nigeria indicates that the first form of taxation occurred in Northern Nigeria. Taxation started in the pre-colonial era and has been improved over the years.
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The problem with accounting information in Nigeria is that there is a lot of hacking going on in that country. Nigeria is also a place for internet scams, so caution should be used.
what is the history of distribution channels in Nigeria? what is the history of distribution channels in Nigeria?
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They are charged with the powers of assessment, collection of and accounting for revenues accruable to the government of Nigeria; and for related matters.
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