The Influence of Economics and Finance on Accounting Theory in Academic Accounting Research in Nigeria

Abstract

Economics and Finance is a conceptual framework for standards-settings as well as for the teaching and practice of financial accounting with the aim to establish an agreed- upon sets of principles and concepts driving towards uniformity in the presentation and preparation of corporate reports, thereby making an informed decision available for users of accounting information. Expos facto research design is adopted in this study using time series data collected over a successive point in time and the sample of the study was arrived at through purposive sampling technique. Thus, the sample of the study covers the period of eleven years from 2007 to 2017. Findings revealed that economics and finance has positive and significant influence on the accounting theory in academic research in Nigeria and it is recommended that researchers, corporate bodies, government and other economic agents must take into consideration the influence of economic variables and financial variables in the process of adopting any accounting theory.

Key Words: Accounting Theory, Accounting Practice, Economics Theory, Finance Theory, Academc Accounting Research.