Fair Value Measurement versus Historical Cost Accounting: A Comparative Effect on Firms’ Performance in Nigeria

This study comparatively examined the effect of fair value measurement (FVM) and historical cost accounting (HCA) on the performance of quoted firms in Nigeria. Data were sourced from the online published accounts of ten quoted firms for a period of ten years segregated into HCA regime (2007 – 2011) and FVM regime (2012-2016). Descriptive Statistics (Mean) and Inferential Statistics (Paired sample t-test) were employed in the analysis of the data collected with the aid of Statistical Package for the Social Sciences (SPSS) version 21. Findings from the analysis revealed that a positive but insignificant difference exists in the profit after tax of the firms between the FVM and HCA regimes; and that fair value measurement exerts negative but insignificant effect on the earnings per share and return on equity of the firms. The study thus concluded that fair value measurement as it is being practiced and implemented by Nigerian firms, exerts no significant change in firms’ performance as was reported under the HCA regime. It therefore recommended, among other things, that the International Accounting Standards should review the current provisions on the fair value practices in the International Financial Reporting Standards to ensure improved operations of firms across national borders. Key Words: Fair Value Measurement, Historical Cost, performance, Earning per Share, Profit after Tax, Return on Asset

Physicochemical evaluation of groundwater near Ikot Effanga dumpsite, Calabar, South eastern Nigeria

The Ikot Effanga area of Calabar, Southeastern Nigeria, is located close to a municipal waste dump. The area is defined by latitudes 050001N and 050251N and longitudes 0080201 E and 0080251 E. The aim of the study was to assess the impact of the waste dump on the groundwater resources of the area. Groundwater samples were obtained from 10 boreholes located around the dump site. The samples were collected during the peak dry season and peak rainy season for comparison. Physicochemical parameters were analyzed. Static water level and surface elevation of the boreholes were used to determine the groundwater flow direction. Results obtained were compared with the NSDWQ and WHO standards. From the result, it was observed that groundwater in the area is acidic as the mean pH values were 4.03 and 3.57 for dry and wet season respectively. Other physicochemical parameters analyzed showed that there were no significant variations between the dry and wet season. Also, groundwater from the area was classified as fresh and suitable for domestic and agricultural purposes. The general flow direction of groundwater in the study area is NW-SE. While the present study showed that the dumpsite does not have significant impact on the groundwater resources either due to geology or natural attenuatio

Exercise has a positive impact on bone mineral density in seropositive human immunodeficiency virus: do health professionals know?

Introduction: Despite the concomitant negative effects of human immunodeficiency virus on bone mineral density in HIV-infected persons, studies on knowledge of effect of exercise on this health parameter in HIV population among health professionals seem unavailable. This study therefore examined knowledge on effect of exercise on BMD in HIV-infected persons among health professionals. Material and methods: This cross-sectional survey employed researcher designed, experts - validated questionnaire to enroll 434 respondents. The reliability coefficient “r” of the questionnaire was 0.75 with 92% response rate. Descriptive and inferential statistics were used to summarize and analyze the data respectively. The alpha value was set at 0.05. Results: Age range and mean age in years of the respondents were 21–59 and 35.88 ± 9.09 respectively; age group of 30–39 years predominated (45.3%). Males were in preponderance (52.4%), and most (74.4%) were married; while majority (54.7%) were nurses. Substantial proportion (54.2%) had less than good knowledge on the subject examined in this study. Significant difference (p 0.05). Conclusions: Knowledge on effect of exercise on BMD in HIV infected persons among health professionals was surprisingly below expectation, and therefore should be seen as a cause for concerned exercise scientists and public health experts

Management of coronary disease in patients with advanced kidney disease

BACKGROUND Clinical trials that have assessed the effect of revascularization in patients with stable coronary disease have routinely excluded those with advanced chronic kidney disease. METHODS We randomly assigned 777 patients with advanced kidney disease and moderate or severe ischemia on stress testing to be treated with an initial invasive strategy consisting of coronary angiography and revascularization (if appropriate) added to medical therapy or an initial conservative strategy consisting of medical therapy alone and angiography reserved for those in whom medical therapy had failed. The primary outcome was a composite of death or nonfatal myocardial infarction. A key secondary outcome was a composite of death, nonfatal myocardial infarction, or hospitalization for unstable angina, heart failure, or resuscitated cardiac arrest. RESULTS At a median follow-up of 2.2 years, a primary outcome event had occurred in 123 patients in the invasive-strategy group and in 129 patients in the conservative-strategy group (estimated 3-year event rate, 36.4% vs. 36.7%; adjusted hazard ratio, 1.01; 95% confidence interval [CI], 0.79 to 1.29; P=0.95). Results for the key secondary outcome were similar (38.5% vs. 39.7%; hazard ratio, 1.01; 95% CI, 0.79 to 1.29). The invasive strategy was associated with a higher incidence of stroke than the conservative strategy (hazard ratio, 3.76; 95% CI, 1.52 to 9.32; P=0.004) and with a higher incidence of death or initiation of dialysis (hazard ratio, 1.48; 95% CI, 1.04 to 2.11; P=0.03). CONCLUSIONS Among patients with stable coronary disease, advanced chronic kidney disease, and moderate or severe ischemia, we did not find evidence that an initial invasive strategy, as compared with an initial conservative strategy, reduced the risk of death or nonfatal myocardial infarction

Evaluation of a quality improvement intervention to reduce anastomotic leak following right colectomy (EAGLE): pragmatic, batched stepped-wedge, cluster-randomized trial in 64 countries

Background Anastomotic leak affects 8 per cent of patients after right colectomy with a 10-fold increased risk of postoperative death. The EAGLE study aimed to develop and test whether an international, standardized quality improvement intervention could reduce anastomotic leaks. Methods The internationally intended protocol, iteratively co-developed by a multistage Delphi process, comprised an online educational module introducing risk stratification, an intraoperative checklist, and harmonized surgical techniques. Clusters (hospital teams) were randomized to one of three arms with varied sequences of intervention/data collection by a derived stepped-wedge batch design (at least 18 hospital teams per batch). Patients were blinded to the study allocation. Low- and middle-income country enrolment was encouraged. The primary outcome (assessed by intention to treat) was anastomotic leak rate, and subgroup analyses by module completion (at least 80 per cent of surgeons, high engagement; less than 50 per cent, low engagement) were preplanned. Results A total 355 hospital teams registered, with 332 from 64 countries (39.2 per cent low and middle income) included in the final analysis. The online modules were completed by half of the surgeons (2143 of 4411). The primary analysis included 3039 of the 3268 patients recruited (206 patients had no anastomosis and 23 were lost to follow-up), with anastomotic leaks arising before and after the intervention in 10.1 and 9.6 per cent respectively (adjusted OR 0.87, 95 per cent c.i. 0.59 to 1.30; P = 0.498). The proportion of surgeons completing the educational modules was an influence: the leak rate decreased from 12.2 per cent (61 of 500) before intervention to 5.1 per cent (24 of 473) after intervention in high-engagement centres (adjusted OR 0.36, 0.20 to 0.64; P < 0.001), but this was not observed in low-engagement hospitals (8.3 per cent (59 of 714) and 13.8 per cent (61 of 443) respectively; adjusted OR 2.09, 1.31 to 3.31). Conclusion Completion of globally available digital training by engaged teams can alter anastomotic leak rates. Registration number: NCT04270721 (http://www.clinicaltrials.gov)