UIJRT » United International Journal for Research & Technology

Price Increases Accounting and Fiscal Advancement: Validation from Nigeria

Total Views / Downloads: 151 

Cite ➜

Oko, O.I., Ochi, I.I., Oluwatominiyi, O.T., Idiege, A.F. and Theresa, E., 2021. Price Increases Accounting and Fiscal Advancement: Validation from Nigeria. United International Journal for Research & Technology (UIJRT), 2(6), pp.22-29.


The survey was carried out to scrutinize the special effects of price increases on fiscal advancement: Validation from Nigeria. In this study, price increases accounting was taken with inflation rate and money supply while fiscal advancement was taken with real gross domestic product. Data were gathered from secondary sources. Ex-post facto research design was used while auto-regression distribution lag was used in analysis. Results revealed that price increases rate has undesirable and immaterial link with real gross domestic product and that money supply has affirmative but inconsequential association with real gross domestic product. Based on these results, it was resolved that price increases accounting has mixed influence on fiscal advancement. Hence it was suggested that government should formulate policies and programs to control rate of price increases to a level that would allow for sufficient money supply into the economy because such policy would diminish price increases rate and at the same time allow for adequate stream of money in the country which would in turn increase fiscal advancement

Keywords: Accounting, Advancement, Domestic, Fiscal, Gross, Price increases, Product.


  1. Akdogun, N. (2009). Effect of Inflation Accounting on financial ratios. Journal of accounting Research, 2, 47-62.
  2. Akpan, A. U. & Asuquo, A. I. Tax concession and investment decisions of small scale businesses in Calabar Free Trade Zone – Nigeria. Journal of Finance and Investment Analysis. 2012; 1 (4): 15-25.
  3. Akpan, A. , Asuquo, A. I. & Udoayang, J. O. (2011). Applicability of cash dividend model to commercial banks in Nigeria. International Journal of Social Science, 3(1): 140-148.
  4. Arsoy, P., & Eucenne, U. (2009). The development of inflation accounting in Turkey. Critical perspective 20, 568-590.
  5. Asuquo, A. I. & Udoayang, J. O. (March, 2020). Effect of Accounting Practices on trade and Information technology in Calabar Metropolis. International Journal of Recent Technology and Engineering, 8(6), 1572-1577.
  6. Asuquo, A. I., Dan, N. O., & Effiong, G. T. (2020). Impact of information technology on accounting line of works. International Journal of Recent Technology and Engineering, 9(2), 1572-1577.
  7. Asuquo, A. I., Tapang, A. T., Uwah, U. E., Dan, N. O., & Uklala, A. P. (2020). Accounting implications of micro-fiscal measures and quality of real gross national goods and services :Empirical evidence from Nigeria. Research in World Economy, 11(6), 155-163.
  8. Asuquo, A. I., Dada, E. T. & Onyeogaziri, U. R. (2018). The effect sustainability reporting on corporate performance of selected quoted brewery firms in Nigeria. International Journal of Business & Law Research, 6(3): 1-10 July-September.
  9. Asuquo, A. I., Fadenipo, A. A., Ogbeche, L. O. & Ahonkhai, O.E. (2017). Effect of inflation accounting on business income measurement of quoted manufacturing companies in Nigeria. Imperial Journal of Interdisciplinary Research, 3(1):1886-1894.
  10. Asuquo, A. I., Akpan, A. U. & Tapang, A. T. (2012). Nigerian pension reforms and management: New strategies for rewarding past intellectuals towards sustainable development in the third world. USA, Global Journal of Management and Business, 12 (13): 11-18.
  11. Asuquo, A. I. (2020). Applicability of standard magnitude variance in the determination financial progress of business organizations. International Journal of Scientific and Technology Research, 9(3): 6351-6358.
  12. Asuquo, A. I. & Ejabu, F. E. (2018). Effects of thin capitalization and International Law on performance of multinational companies in Nigeria. Journal of Accounting and Financial Management, 4(2): 47-58.
  13. Asuquo, I. (2012a). Inflation accounting and control through monetary policy measures in Nigeria. ISOR Journal of Business and Management, 1(2), 53-62.
  14. Asuquo, A. I. (2012b). Accounting for the impact of monetary policy on Nigerian economic growth: Empirical assessment (1981-2010). International Journal of Innovative Research and Development, 1(4) 246-26.
  15. Asuquo, A. I. (2012c). Empirical analysis of the impact of information technology on forensic accounting practice in Cross River State-Nigeria. International Journal of Scientific and Technology Research, 1 (7): 25-33.
  16. Asuquo, A. I. (2012d). Impact analysis of interest rate on net assets of multinational business in Nigeria. Research Journal of Finance and Accounting, RJFA@iiste.orgg, 3(7): 64-70.
  17. Asuquo, A. I., Ejabu, F. E., Bogbo, R. J., Atu, O. A. & Adejoupe, A. O.(2018). Accounting behaviour of small scale enterprises in Nigeria: Focus on business sustainability and growth. Journal of Business and Economic Development, 3(2): 43-50 doi:10.11648/j.jbed.20180302.12.
  18. Asuquo, A. I. & Effiong, S. A. (2010). Reporting the financial effects of price- level changes in globalized economy, Nigeria. International Journal of Management Science, 2(3): 6–77.
  19. Asuquo, A. I. (2011a). Impact of creative accounting and earnings management on modern financial reporting. The Nigerian Academic Forum, 20(1): 1-6.
  20. Asuquo, A. I. (2011b). The application of standard magnitude variance in optimal capital structuring/working capital management in business organizations. Multi-Disciplinary Journal of Academic Excellence, 5(1):109-120.
  21. Asuquo, A. I., S.A Effiong & Tapang, A. A. (2012). The effect of financial management practices on the profitability. International Journal of Research in IT, Management and Engineering. Glenview, IL: Scott Foresman, 2(1): 234-246
  22. Asuquo, A. I. (2013). Analysis of financial accounting standards and their effects on financial reporting and practices of modern business organizations in Nigeria.European Journal of Business and Management, 5(4), 60-68.
  23. Asuquo, A. I. & Akpan, A. U. (2012). Professional ethics as instruments for Effective and efficient financial management in the Nigerian public sectors: A scientific approach. International Journal of Advance Innovations Thoughts and Ideas, 1(6): 5-10.
  24. Asuquo, A. I., & Arzizeh, T. T. (2012). An empirical analysis of foreign exchange rate risk exposure and the performance of Nigerian companies: 2002-2011. International Journal of Current Research and Review 4(23): 1-8.
  25. Daily, D. J. (1984). Inflation, inflation Accounting and its effect, Canadian manufacturibng. Canadian Journal of economics 31, 355-374.
  26. Effiong, S. A., Udoayang, J. O. & Asuquo, A. I. (2011). Correlational and Differential influence of historical cost and current cost profits on the operating capabilities of the firm. International Journal of Financial Research. 2(1)64–70.
  27. Effiong, S. A, Asuquo, A. I. & Enya, E. F. (2020). Discretional accruals and going concern of the manufacturing companies. International Journal of Scientific and Technology Research, 9(3): 2976-2983.
  28. Friedman, M. (1977). Novel lecture: Inflation and unemployment. Journal of Political Economy 85,451-472.
  29. Guru, B. (2002). Determinant of commercial bank profitability in Malaysia, Paper Presented at the 12th annual Australian finance and banking conference Sydney, Australia, 16-17 December.
  30. Ihungan, M. L. (2011). Monetary Economics. New Delhi: Vrinda publications Ltd.
  31. Karapinar, A and Zauf, F (2005). The effect of inflation on financial statement. Journal of Finance 26, 49-72
  32. Lazaridis, L. & Tryfomidis, D. (2006). Relationship between working capital management and profitability of listed companies. Journal of Financial Management and Analysis, 19(1), 12.
  33. Malik, G & Chowdbury, A. (2002). Inflation, government expenditure and real income. Journal of economics, 29(3), 240-250.
  34. Rahman, S. & Serletic, A. (2009). The effect of inflation uncertainty, some international evidence. Journal of Economic Studies, 36,1-10.
  35. Sophodes, U., Mathaids, U. (2015). The effects of commercial bank loans on small and medium scale enterprises. Journal of finance and accounting 1(1), 18-40.
  36. Udoayang, J. O., Akpanuko, E. E., & Asuquo, A. I. (2009). Multinational transfer pricing and international taxation: What, why, how and reporting challenges. African Research Review, 3(5.):165-181.
  37. Uwah, U. E. & Asuquo, A. I. (2016). Capital budgeting processes and wealth maximization objectives: Implications for firms in Nigeria. Research Journal of Finance and Accounting, 7(10): 73-85 RJFA@iiste.org.

For Conference & Paper Publication​

UIJRT Publication - International Journal