ACCOUNTANTS AND ECONOMIC RECESSION IN NIGERIA
Keywords:
Accountants, Economic Recession,, Nigerian EconomyAbstract
The study examined the roles played by accountants to ensure the survival of their respective organizations during the Nigerian Economic recession of last quarter of 2015 to third quarter of 2017. The survey method of research design was adopted for the study. Population of the study comprised 103 accountants representing one accountant selected from each of the companies/business organizations in the two sectors of the Nigerian economy selected for the study. Sample size was arrived at 82 using Taro Yamen method. Data were collected from primary source through interview and questionnaire. The formulated hypotheses were tested using Cronbach Alpha, Weighted Mean and Paired T-test. Findings revealed that accountants played significant roles towards improving revenue and reducing operating costs/expenses during the recession. They also played significant roles to ensure retention of workers and customers/clients as well as in coping with competitors, inflation and in recovery of loans during the recession. Consequent on the findings it was recommended that constant training of accountants by their firms and professional bodies will help to equip them intellectually on the signals of economic recession and how to tackle it before it renders its havoc.
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