International Financial Reporting Standards' and Performance of Manufacturing Firms in Nigeria, (2014 -2018)

This study examined the rate at which International Financial Reporting Standards’ disclosure requirements guaranteed performances of Manufacturing industries in South – West Geo-political zone of Nigeria using inferential statistical analysis on selected companies based on the fact that their year of first Publication of financial statement preceded 2012- the IFRS adoption ultimatum date in Nigeria. The result showed that IFRS specific template for manufacturing entities are followed in the preparation and presentation of annual financial reports which culminated to better reporting and improvement on a growing trends of the company’s performance indicators. The compliance have a significant effect on manufacturing companies performances as the P-value of disclosure requirements P = 0.04 greater than P-value of companies performance P= 0.005. This indicates that compliance to IFRS disclosure requirement is a factor that assist listed firms’ performance growth rate since it was established that factors like inadequate trainings (70%), unqualified Account staff (65%) and lack of standard financial reporting templates (72%) were inhibiting factors in the past as compliance rate improves success indicator of the companies also improves in developing economy. Based on the above, the study concluded that IFRS have a significant impact on Performances of manufacturing companies in Nigeria during the studied period