Abstract:
The globalization of the world‟s economy and markets led companies and nations to
become world global players. Before the adoption of International Financial
Reporting Standards (IFRS), different countries developed their own national
accounting standards. However, movement of business toward global economy
brought challenges in comparability, objectivity, reliability, understandability among
others. In view of this, this paper attempts to assess the impact of International
Financial Reporting Standard adoption on financial performance of organizations and
to the extent at which financial performance of Guinness Ghana Breweries Limited
before and after the adoption of IFRS. Ratios and descriptive design was adopted
using the published financial statements of company listed on Ghana stock exchange
for ten years periods. Microsoft Excel was also used to obtain the mean and Standard
deviation. It observed that the adoption of IFRS in Ghana, under the profitability and
liquidity ratios there were no significant impact on financial performance of an
organization though it enhance credibility to financial statements. This paper therefore
recommends that there is the need to bring organizations system under control and
make them to fit for the service and the interest of stakeholders and needs to work on
skills and expertise gap by training and workshops.
Description:
A Project Report in the Department of Accounting Studies Education, Faculty of
Business Education, Submitted to the School of Graduate Studies in partial
fulfilment of the requirements for the award degree of Master of Business
Administration (Accounting) in the University of Education, Winneba
JUNE, 2019