[01] Egbunike P. A., Department of Accountancy, Nnamdi Azikiwe University, Awka, Anambra State, Nigeria. [02] Jesuwunmi C. A., Department of Accountancy, Nnamdi Azikiwe University, Awka, Anambra State, Nigeria. [03] Adewoyin A. O., Department of Accountancy, Nnamdi Azikiwe University, Awka, Anambra State, Nigeria. [04] Ogunmeru A. O., Department of Accountancy, Nnamdi Azikiwe University, Awka, Anambra State, Nigeria.

This study empirically appraised the compliance disclosure level of IAS 16 (Property, Plant and equipment-PPE) of four Listed Cement Manufacturing firms in Nigeria for the period of five years (2010-2014). The Content Analysis research design was adopted. Secondary data for the study were obtained from the published audited financial statements of the four listed cement manufacturing firms on the Nigerian Stock Exchange for the period under review from which disclosure compliance index was developed. The statistical tools employed were the compliance index, Spearman’s Rank correlation coefficient (rho), Eta-square (η2), Kaiser-Meyer-Olkin Measure of Sampling Adequacy (KMO), Bartlett’s test (χ2) and the Analysis of Variance (ANOVA) purposely to analyse research questions and test the hypotheses proposed via SPSS Version 21. The study observed that at present Nigerian cement manufacturing firms are reasonably meeting up with the disclosure requirements of International Accounting Standard (IAS 16). This was associated with the fact that the two leading firms are transnational organizations and they have been complying with the guidelines of International Accounting Standards which conforms to the international best practice. Based on the findings the study recommends among others that Nigeria Stock Exchange, Financial Reporting Council of Nigeria and other government regulatory agencies should formulate policy and make it mandatory for listed firms to report in Extensible Business Reporting Language (XBRL) that guarantee efficient monitoring of firms; strict compliance with the disclosure requirements of IFRS and to impose penalty for noncompliance; in order to protect the interests or stakes of the diverse stakeholders.

Appraisal, Compliance, IAS-16-Property, Plant & Equipment (PPE), Nigeria

[01] Adebayo, P. A. (20011). Financial accounting & reporting standards: For students & professionals. Abuja-FCT, Commerce Plaza: Rainbow Graphic Printers & Publishers. [02] Adewoyin, A. (2012). Corporate governance and banking sector performance in Nigeria. [03] Being seminar paper presented in Department of Banking and Finance, Faculty of Management Sciences, Nnamdi Azikiwe University, Awka, Anambra State, Nigeria [04] Akintonde, O. G. (2013). Assessment of the performance of secretaries in information and [05] communication technology in Ondo State civil service. (Unpublished Master Dissertation). Department of Vocational Education, Faculty of Education, Nnamdi Azikiwe University, Awka, Anambra State, Nigeria. [06] Ajzen, I. (1991). The theory of planned behavior. Organizational behavior and human decision process. Philippines: Addison-Wesley Publishing Company, Inc. [07] Ajzen, I., & Fishbein, M. (1975). Belief, attitude, intention and behavior: Introduction to theory and research. Philippines: Addison-Wesley Publishing Company, Inc. [08] Al-Shammari, B. A. (2005). Compliance with IAS by listed companies in the Gulf co-operation member states: An empirical study. Unpublished Doctoral Dissertation, University of Western Australia, Perth. [09] Al-Shammari, B., Brown, P. & Tarca, A. (2008). An investigation of compliance with international accounting standards by listed companies in the Gulf Co-Operation Council Member States. Int. Journal. Accounting, 43 (4): 425-447. [10] Barako, D. G., Hancock, P. and Izan, H. Y. (2006). Relationship between corporate governance attributes and voluntary disclosure in annual reports: Kenyan experience. Financial Reporting, Regulation and Governance, 5 (1), 1-25. [11] Barde, I. M. (2009). An evaluation of accounting information disclosure in the Nigerian oil marketing industry. Ph. D. Dissertation, Bayero University, Kano, Department of Accounting. [12] Bobek, D. D., Robin, W. R. & John, T. S. (2007). The social norms of tax compliance: Evidence from Australia, Singapore and United States, Journal of Business Ethics, 74 (1): 49-64. [13] Chau, G. K. and Hu, S. (2001). Ownership structure and corporate voluntary disclosure in. [14] Hong Kong and Singapore. The International Journal of Accounting, 37, 247–265. [15] Choong, K. F., Lai, M. L. & Ng, K. T. (2009). Hawkers and the self-assessment tax system: Survey evidence from Malaysia, Oxford Journal, Fall 2009, 8 (1), pp. 119-132. [16] Financial Reporting Council of Nigeria (2011). Financial Reporting Council of Nigeria Act. [17] Forest, A., & Sheffrin, S. M. (2002). Complexity and compliance: En empirical investigation. National Tax Journal, LV, 75–88. [18] FRCN. (1983). Statement of Accounting Standard 3 on Accounting for Property, Plant and Equipment. Lagos: PAT. [19] Friedrich, B., Friedrich, L. & Spector, S. (2011). Pdnet. Retrieved January 03, 2013, from International Accounting Standard (IAS) 16, Property, Plant and Equipment: http:// www.cgapdnet.org/enCA/PDResources/Pages/InternationalAccountingStandard16(IAS16).aspx [20] Gilbert K, A., & Stephen, A. (2012). Compliance with International Financial Reporting Standard 7 (IFRS 7): A study of listed banks in Ghana. Research Journal of Finance and Accounting, 3 (4), ISSN 2222-1697. Available at: www.iiste.org [21] Godin, G., & Kok, G. (1996). The theory of planned behavior: A review of its applications to health-related behaviors. American Journal of Health Promotion, 11, 87-98. [22] Gordan, M. (1964). Postulates, principles and research in accounting. The Accounting Review, 39 (2), 251–263. [23] Guo, I., Kadam, O. and Kandel, E. (2007). A rational expectations theory of kinks in financial reporting”, The Accounting Review, 81 (4), 811–848. [24] Hornby, A. S., Michael A., Joanna T., Diana L., Dilys P., Patrick P., & Victoria B. (2010). Oxford Advanced Learner’s Dictionary (8th Ed.). Great Clarendon Street, Oxford Uk: Oxford University Press, [25] IASB. (2010). IFRS for SMEs. London: IFRS Foundation. [26] IASB (2005). Preliminary Views on an improved Conceptual Framework for Financial. [27] Reporting: The Objective of Financial Reporting and Qualitative Characteristics of Decision useful Financial Reporting Information, Discussion Paper, Retrieved February 28 from www.iasb.org. [28] James, M. G. & Johan, P. O. (1998). The institutional dynamics of international political order. Int’l Organisation, 54 (4), 949-954. [29] Jenson, M. C. (1983). Organization theory and methodology. The Accounting Review, 58 (2), 319-339. [30] Jenson, M. C and Meckling, W. H. (1976). Theory of the firm: managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3 (4), 305-360. [31] Kantudu, A. S., & Tanko, M. (2008). Compliance with the requirements of accounting standard by quoted companies in Nigeria. Retrieved August 11, 2012, from SSRN: http://ssrn.com/ abstract=1150973 [32] Kothari, S. P. (2000). The role of financial reporting in reducing financial risks in the market. In E. S. Rosengren, and J. S. Jordan (Eds.), Building an infrastructure for financial stability. Federal Reserve Bank of Boston Conference (Vol. 44). Boston: Federal Reserve Bank of Boston. [33] Kraft, P., Rise J., Sutton, S. and Roysamb. E. (2005). Perceived difficulty in the theory of Planned Behavior: Perceived Behavioral Control or affective Attitude? British Journal of Social Psychology 44, 479-496. [34] Libby, R. (1995). The Role Of Knowledge And Memory In Audit Judgement, In R. H. Ashton & A. H. Ashton (Eds.), Judgement and Decision Making Research in Accounting and Auditing. New York: Cambridge University Press. [35] Lio, E. C, McKerchar, M and Hansford, A. (1999). Findings on the Impact of Self Assessment on the Compliance Behavior of Individual Taxpayers in Malaysia: A Case Study Approach. Journal of Australian Taxation, 13. [36] Liou, Juan Keng (2007). Competency Of Malaysian Salaried Individuals In Relation To Tax Compliance Under Self Assessment. E-Journal of Tax Research 47. [37] Marston, C. L., & Shrives, P. J. (1991). The use of disclosure indices in accounting research: A review article. British Accounting Review, 23 (23): 195-210. [38] Martin, G., Peter, S., Donna, L., S., & Silvia, V. (2013). Compliance with IFRS3 and IAS36 required disclosures across 17 European countries: Company-and country-level determinants. Accounting and Business Research 43, (3): 163-204. Retrieved from: www.global-knowledge-gateway/business-reporting/discussion/research-insights-studyeuropean-compliance-i#comments [39] Meek, G. K., Roberts, C. B., & Gray, S. J. (1995). Factors influencing voluntary annual report disclosures by US, UK and Continental European multinational corporations. Journal Int’l Bus. Stud. 26 (3): 555-572. [40] Melis, A. (2007). Financial statements and positive accounting theory: The early contribution of Aldo Amaduzzi. Accounting, Business & Financial History, 17 (1), 53–62. [41] Noor S. S., Mohd R. P., Rosiati R., & Ruhanita M. (2012). Sole proprietorship and tax compliance intention in self assessment system: A theory of planned behavior approach. International Journal of Business, Economics and Law, 1, ISSN 2289-1552. [42] NSE. (2015, March 22). Listed Securities Listed Companies. Nigerian Stock Exchange. Retrieved from: http://www.nse.com.ng/listings-site/listed-securities/listed-companies [43] Nworgu, B. G. (2012). Educational research: Basic issues & methodology (2nd ed.). Nsukka, Enugu: University Trust Publishers. [44] Nyor, T. (2010). Determinants of compliance with the disclosure requirements of accounting standards by Nigerian banks. Bayero Int’l Journal Accounting Res. 4 (1): 34–48. [45] Osisioma, B. C. (2013, May 21). Good corporate governance: The role of the accountant. Presented at 2013 Mandatory Continuing Professional Development Programme of Association of National Accountants of Nigeria, held at Crest Hotel, Rayfield, Jos, Plateau State. Available at: http://works.bepress.com/prof_ben_osisioma/10 [46] Osisioma, B. C. (2012, July 13). Fraud prevention in Nigeria: Applying the forensic accounting tool. Presented at a Three-Day workshop on the Effective Accounting Officer in the Current Financial Challenges. Organized by Entrepreneurial Centre, University of Port Harcourt. Available at: http://works.bepress.com/prof_ben_osisioma/3 [47] Owusu-Ansah, S., & Yeoh, J. (2005). The effect of legislation on corporate disclosure practices. Abacus, 41 (1): 92-109. [48] Randall, D. M and Gibson, M. A. (1991). Ethical Decision making in the Medical Profession: An Application of the Theory of Planned Behavior. Journal of Business Ethics, 10, 2: 111-122. [49] Salendrez, S. E. (2006). An update on International Accounting Standard (IAS) 16: Property, Plant and Equipment. Notes on Business Education. 9 (1): 1-6. [50] Schipper, K. (2007). Required disclosures in financial reports. The Accounting Review, 82 (2), 301–326. [51] Singhvi, S. S. (1968). Corporate disclosure through annual reports in the United States of America and India. The Journal of Finance, 23 (3), 551-552. [52] Singhvi, S. S. and Desai, H. B. (1971). An empirical analysis of the quality of corporate financial disclosure. The Accounting Review, 46 (1), 129-138. [53] Siyanbola, A. A., Musa, U. M., & Wula, T. J. (2014, April). An assessment of compliance with disclosure requirements of IAS 16 by listed agricultural Firms in Nigeria. Scholarly Journal of Agricultural Science, 4 (4), pp. 201-212. Available online at http:// www.scholarly-journals.com/SJAS [54] Street, D. L. & Bryant, S. M. (2000). Disclosure level and compliance with IASs: A comparison of compliance with and without U.S. listings and filings. Int’l Journal Accounting. 35 (3): 305−329. [55] Street, D. L., & Gray, S. J. (2001). Observance of international accounting: factors explaining Non-compliance by companies referring to the use of IAS. London: ACCA Research Monograph No. 74. [56] Tackie, G. (2007). International financial reporting standards convergence: a study of listed banks in Ghana. (Unpublished MBA dissertation, University of Cape Coast). [57] Tan, C. W. (2005). Accounting for financial instrument: an investigation of preparer and user Preference for fair value accounting. (Murdoch University Perth, Western Australia). [58] Thomas, R. (2000). Let’s argue!’: Communicative action in the world politics. Int’l Organisation, 54 (1), 3-7 [59] Tower, G., Hancock, P., & Taplin, R. (1999). A regional study of listed companies' compliance with International Accounting Standards. Accounting Forum. 23 (3): 293-305. [60] Tracy, J. A. (2013). Accounting for Dummies (5th ed.). New Jersey: John Wiley and Sons Ltd. [61] Umoren, A. O. (2009). Accounting disclosures and corporate attributes: A study of tested Nigerian companies. Retrieved November 11, 2011, from Covenant University Repository: http://eprints.covenantuniversity.edu.ng/id/eprint/37 [62] Verinderjeet, S., and Renuka, B (2002). The Malaysian Self-Assessment System of Taxation: Issue and Challenges. Akauntan Nasional, January/February 2002, 10-15. [63] Watts, R. L & Zimmerman, J. L. (1978). Towards a positive theory of the determination of Accounting Standards. The Accounting Review, 53 (1), 112-134. [64] Wallace, R., Naser, K. & Mora, A. (1994). The relationship between the comprehensiveness of corporate annual reports and firm characteristics in Spain. Accounting and Bus. Res. 25 (97): 41-53. [65] World Bank (2004, June 17). Report on the observance and codes (ROSC) accounting and auditing. Retrieved November 12, 2011, from The World Bank Group: http://www.worldbank. org/ifa/rosc_aa_nga.pdf [66] Yahaya, K. A. (2011). Compliance with Statement of Accounting Standards by Nigerian quoted banks. European Journal. Econ. Finance Admin. Sci. (34): 104-112. [67] Yahaya, K. A. M. (2012). Relationship between level of compliance with statement of Accounting Standards and performance of Nigerian banks. Int’l Journal Bus. Management. 128-136.