ABSTRACT This research project was designed to examine “effects of Published Financial Statement on Shareholders Investment Decision” (A Study of Guinness Nigeria Plc). The primary and secondary sources of data were adopted. Questionnaires were distributed by hand and ninety nine were returned. Upon presentation and analysis of data, hypotheses were tested empirically using analysis of variance (ANOVA). The research revealed the following: Investors do not analyze financial statement before making an investment decision. Published financial statement of a company does not show true and fair view. Majority of the respondents agreed that information contained in the company’s annual report could be reliable for effective investment decision. The researcher recommends that all public limited enterprise should continue to publish their financial statement every year; hence it helps shareholders in making investment decision.
7 TABLE OF CONTENTS
Title Page - - - - - - - - i
Certification - - - - - - - - ii
Dedication - - - - - - - - iii
Acknowledgement - - - - - - - iv
Abstract - - - - - - - - v
Table of content - - - - - - - - vi
CHAPTER ONE 1.0 Introduction - - - - - - 1
1.1 Background of the Study - - - - - 1
1.2 Statement of the Problem - - - - - 7
1.3 Purpose of the Study - - - - - 8
1.4 Research Questions - - - - - 9
1.5 Statement of the Hypothesis - - - - 10
1.6 Significance of the Study - - - - 10
1.7 Scope of the Study- - - - - - 11
1.8 Limitation of the Study - - - - - - - 11
1.9 Definition of Terms - - - - - 11
CHAPTER TWO
2.0 Review of Related Literature - - - - 13
2.1 Statutory Imperative of Published Account - - -15
2.2 Statement of Accounting Policies - - - 17
2.3 Profit and Loss Accounts - - - - 18
2.4 Balance Sheet - - - - - - 20
2.5 Note to Financial - - - - - - 21
2.6 Directors Report - - - - - - 21
2.7 Auditors Report - - - - - - 22
2.8 Statement of Source and Application of Fund - 23
2.9 The Value Added Statement - - - - 24
2.10 Importance of Financial Statement - - - 24
2.11 The Credibility of Published Financial Statement - 26
2.12 Information Source - - - - - - 27
2.13 Companies Financial Analysis - - - - 29
2.14 The Published Financial Statement of Guinness Nigeria Plc 32
CHAPTER THREE
3.0 Research Methodology - - - - - 36
3.1 Research Design - - - - - - 36
3.2 Sources of Data - - - - - - 37
3.3 Area of Study - -- - - - - 37
3.4 Population of the Study - - - - - 37
3.5 Determination of sample size - - - - 38
3.6 Reliability of the Test Instrument - - - 38
3.7 Validity of the Research Instrument - - - - 39
3.8 Data Analysis Techniques - - - - 40
CHAPTER FOUR
4.0 Data Presentation Analysis and Interpretation- - - 42
4.1 Data Presentation - - - - - - 42
4.2 Analysis of Questionnaire Responses - - - - 42
4.3 Test of Hypothesis - - - - - 50
CHAPTER FIVE
5.0 Summary, Conclusion and Recommendation - 57
5.1 Summary of Findings - - - - - 57
5.2 Conclusion - - - - - - - 58
5.3 Recommendation - - - - - - 59
Bibliography - - - - - - 60
Appendix - - - - - - - 63
