Sarpong, Kofi Koduah (1999) Financial reporting in emerging capital markets : a case study of Ghana. PhD thesis, University of Warwick.

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Abstract

This thesis investigates the evolution and quality of financial reporting in
Ghana from 1988-1997. The issues examined are comparability of
accounting measurement methods, adequacy of disclosure and relevance,
promotion and observance of the standards of the International Accounting
Standards Committee (IASC). The impact of three factors, namely, firm
size, listing status and accounting regulation on financial reporting are
evaluated.
The accounting measurement and disclosure practices in Ghana were
ascertained from the 1988-1997 annual reports of fifteen non-financial
companies listed on the Ghana Stock Exchange (GSE) on 31 December
1997. Interviews with the executives and auditors of the sample companies,
financial analysts and regulators of financial reporting in Ghana were also
conducted. The data were analysed using nonparametric statistical
techniques.
This study reveals that the establishment of the Ghana Stock Exchange
and the introduction of new accounting regulations in Ghana did not alter
significantly the accounting measurement methods used by the companies
studied from 1988-1997. While mandatory disclosure declined, overall
disclosure, voluntary disclosure and, in a large measure, the disclosure of
categories of information increased over the ten years. Firm size and listing
status were found to be significantly positively associated with overall
disclosure and voluntary disclosure. Accounting regulation was significantly
positively associated with overall disclosure, but not mandatory disclosure.
The impact of firm size, listing status and accounting regulation on
disclosure of categories of information was mixed.
IASC standards were perceived by corporate executives, statutory auditors,
financial analysts and regulators of financial reporting in Ghana to be an
influential factor in the development of the Ghana Stock Exchange. The
Institute of Chartered Accountants (Ghana) and public accounting and
auditing firms of the sample companies were noted to be active promoters
of IASC standards in Ghana. On the whole, the observance of IASC
standards in Ghana increased from 1988-1997 and was comparable overall
to levels found in other countries. Listing status and accounting regulation,
rather than firm size, were found to be significantly positively associated
with the observance of IASC standards in Ghana from 1988-1997.

Item Type:	Thesis (PhD)
Subjects:	H Social Sciences > HF Commerce > HF5601 Accounting
Library of Congress Subject Headings (LCSH):	Accounting -- Ghana, Corporations -- Accounting, International Accounting Standards Committee
Official Date:	April 1999
Dates:	Date Event April 1999 Submitted
Institution:	University of Warwick
Theses Department:	Warwick Business School
Thesis Type:	PhD
Publication Status:	Unpublished
Supervisor(s)/Advisor:	Gray, S. J.
Extent:	2 v. ([xxv], 513 leaves)
Language:	eng

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