APPLICATION OF FINANCIAL ETHICS IN ANNUAL FINANCIAL REPORTING OF BANKS

The importance of financial ethics and its application in financial reporting of banks cannot be ignored as it assists in building public confidence and fostering professionalism. However, the non-compliance and conformity with Nigerian Financial Regulatory Authorities prudential guidelines in the preparation of financial statements lead to incomplete or false information. The objective of the study is to examine the application of financial ethics in annual financial reporting of banks. The study employed primary and secondary data and stratified and purposive sampling techniques were used in which 20 questionnaires were administered to respondents. ANOVA and chi-square were in analysis and the findings revealed that there are significant unethical practices in the preparation of financial reports of banks in Nigeria. The study recommends that more emphasis and attention should be given to ethical standards in all banks and banks should give out clear reports of their financial activities to the regulatory authorities

Extensible business reporting language (XBRL): a tool for accounting education in the 21st century

21st century education standards focus on 21st century skills, content knowledge and expertise. Technology advances such as eXtensible Business Reporting Language (XBRL) have revolutionized the way information is exchanged and the way business is conducted. These days, speed is of the essence and loss of accuracy, lack of transparency, and difficulty in analysis are increasingly becoming apparent risks. This research exposes XBRL as a phenomenon that represents the future of global accounting education. It discusses the concept and need for XBRL as well as its potential uses and challenges. The research found that there is an ongoing transformation in the way business is conducted and regulated world-wide. The onslaught of the information revolution has profound ramifications for corporate reporting information preparers and users. It therefore recommends that the greater the degree of collaboration between all participants in the financial information supply chain, including government regulators and public sector accountants, the greater the benefits that this information format enables for all participants, educationists, academics, companies, regulators, investors, and government agencies alike

Value relevance of financial statements and share price: a study of listed banks in Nigeria

This paper examined the effects of value relevance of financial statements on firms share price in Nigeria. In achieving the objectives of this research, the fact book from the Nigerian Stock Exchange Market and the audited financial statement of listed banks spanning the period 2010-2014 were used. Also, a total of 15 listed banks in the Nigerian stock exchange market were selected and analyzed for the study using the purposive sampling method. However, in analyzing the research hypotheses, the study adopted the use of both descriptive statistics and the use of Fixed Effects Panel data method of data analysis technique. Findings from the study showed that a significant positive relationship existed between earnings per share (EPS) and Last day share price (LDSP). The study recommends the need for banks in the country to improve on the quality of earnings reported, since it has a stronger ability to explaining share prices of firm

Accuracy and Limits of Lamendin’s Age Estimation Method in a Sample of Nigerian Population

This study compared the accuracy and limits of Lamendin’s age estimation method to age estimation by subset regression analysis in a sample of Nigerian population. The research was a cross-sectional study involving 81 single-rooted teeth obtained from 45 females and 36 males between ages 20 and 90 years. Extracted teeth samples were disinfected and stored, and directly measured using a digital vernier caliper on a 16 W X-ray box. Periodontosis (P) and Translucency (T) were derived using standard formulae from the root height (RH), translucency height (TH), and periodontal height (PH). Data were managed in an excel spreadsheet, then analyzed (stratified by sex) using Lamendin’s equation (Age = 0.18P + 0.42 T + 25.53) in SPSS (IBM® version 23, Armonk, USA) and Minitab® 2017 (version 18.1) best subset regression for males (Age = 6.23TH + 0.113P + 7.7) and females (Age = 14.90PH + 0.330 T − 2.12). Chi-square analysis tested the distributional deviations from actual age (using error ranges). From the analysis, 33.3% of the total population (M: 30.0% and F: 35.6%) were predicted within the suggested limit compared to 61.7% (M: 75.0% and F: 51.0%) for the best subset model. The distributional errors difference in both methods was not significant for males (χ2[df = 3] = 1.810, P = 0.405), females (χ2[df = 3] = 1.275, P = 0.528), and total samples (χ2[df = 3] = 4.960, P = 0.084). Lamendin’s formula did not provide accurate age estimates for a large proportion of sample population. More accurate estimates were limited to age ranged between 30 and 70 years. The study recommended that further studies using a larger sample be conducted to validate the findings of this study

Epigenetic modifications in solid tumor metastasis in people of African ancestry

This review focuses on the critical role of epigenetic modifications in solid tumor metastasis, particularly in people of African ancestry. Epigenetic alterations, such as DNA methylation, histone modifications, alterations in non-coding RNAs, and mRNA methylation, significantly influence gene expression, contributing to cancer development and progression. Despite the primary focus on populations of European, American, and Asian descent in most cancer research, this work emphasizes the importance of studying the unique genetic and epigenetic landscapes of African populations for a more inclusive approach in understanding and treating cancer. Insights from this review have the potential to pave the way for the development of effective, tailored treatments, and provide a richer resource for understanding cancer progression and metastasis. Specific focus was placed on the role of DNA methylation, histone modifications, non-coding RNAs, and mRNA methylation in solid tumor metastasis, including how these modifications contribute to the regulation of tumor suppressor genes and oncogenes, influence cellular pathways and signaling, and interact with the immune system. Moreover, this review elaborates on the development of epigenetic-targeted therapeutic strategies and the current advances in this field, highlighting the promising applications of these therapies in improving outcomes for African ancestry populations disproportionately affected by certain types of cancer. Nevertheless, this work acknowledges the challenges that lie ahead, particularly the under-representation of African populations in cancer genomic and epigenomic studies and the technical complications associated with detecting subtle epigenetic modifications. Emphasis is placed on the necessity for more inclusive research practices, the development of more robust and sensitive methods for detecting and interpreting epigenetic changes, and the understanding of the interplay between genetic and epigenetic variations. The review concludes with an optimistic outlook on the future of epigenetic research in People of African ancestry, urging the concerted efforts of researchers, clinicians, funding agencies, and policymakers to extend the benefits of this research to all populations