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ABSTRACT

The study was directed towards examining the extent of reliance of financial accounting information for effective business and financial decision in corporate organization in Nigerian. (A Case study of First Bank of Nigeria PLC). In carrying out the examination, certain problems were identified.  These problems included the fact that some business are managed ineffectively, in their words regardless of the information content of financial statement. Secondly, some organizations may unknowingly employ Incompetent and unskilled manpower in sourcing financial accounting information. Two hypotheses were formulated, while descriptive research approach was chosen for this study and both primary and secondary data sources were explored.  Two sets of questionnaire were distributed and in analyzing the data generated, simple percentage, statistical tables and chi-square were used.

After data analysis, it was discovered that financial accounting information has contributed of effective decision making in the bank.  It was also discovered that the information content of annual financial statement is the organization is effective. Other findings made include that inconsistent accounting policies and reporting practices make Comparison of the performance of organizations difficult, the level of information given in financial statement is highly reliable.

 

 

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