Implication of Ifrs 6 on the Financial Performance of Selected Oil Companies in Nigeria

Authors : Warrens Bekearedebo Augusta ; Siyanbola Trimisiu Tunji ; Abdulraheem Yusuf Bolaji ; Davis Abraham Olalekan

DOI : doi.org/10.47752/sjef.63.65.72

Abstract:
The study aimed at evaluating IFRS 6 and its impact on the financial performance of oil and gas companies. This paper looked at how the adoption of IFS 6 changed the financial outcomes of several petroleum businesses in Nigeria. Five petroleum firms were randomly selected. Data were obtained from the published financial reports, and the necessary key financial performance indices were computed. The research utilized the paired correlation and sample t-test to examine the association and dissimilarity concerning post-IFRS 6 adoption and pre-IFRS 6 profitability, financial leverage, and liquidity under these two periods. The results revealed an insignificant association for the profitability and leverage variables, but found a significant association for the working capital variable for the two periods. The paired t-test result (hypothesis 1 showed t=1.617, p-value=0.140>0.05, hypothesis 2 showed t=1.863, p-value=0.095>0.05 and hypothesis 3 showed t=1.700, p-value=0.123>0.05, all at df=9) revealed that there was no substantial disparity in profitability, financial leverage, and working capital under the post-IFRS 6 adoption and pre-IFRS 6 periods. The outcomes of the research show that IFRS 6 has no outcome on the financial performance of Nigerian petroleum companies. It recommended that, in order to improve the quality of their financial reporting, oil and gas firms should adhere to the guidelines established by the IFRS 6. This could improve performance by bringing in more investments, making it easier to get money, and letting investors and analysts compare financial reports.

Feasibility of Launching a Palestinian Currency Using Hypothetical Alternatives That May Fit the Specificities of the Palestinian Economy: Supporting Vs Opposition

Authors : Nemer Badwan ; Azmi Wasfi Awad

DOI : doi.org/10.47752/sjef.63.44.64

Abstract:
This research attempted to determine the viability of issuing a Palestinian currency by using hypothetical choices that may fit the uniqueness of the Palestinian economy. Because of the freezing of peace accords, the lack of Palestinian money, and the confiscation of Palestinian financial dues by the Zionist Entity, this is a positive perspective of the nature of Palestinian monetary structures. These hypothetical choices were developed because the Palestinian currency is crucial to the Palestinian economy and important in preventing financial losses such as economic rent. To that purpose, the researcher used a statistical test to investigate the viewpoints of academic specialists on this subject. The research results revealed no statistically significant variations at (α≤0.05) in respondents’ opinions regarding the prospect of issuing money using hypothetical possibilities linked to demographic factors. The authors propose that the entity in charge of administering and issuing Palestinian money be the currency commission, with the authority to progressively introduce it alongside other monetary standards in existence. This research advocated for partial issuance of total currency with a restriction on money in the system) (CC) (rather than complete is suing to cover the full monetary base in the narrow sense) (M1). Therefore, the author recommended using fictitious exchange rates, currency values, and deposit cover alternatives.