Labour Management Practices, Trade Unionism : Implications for Industrial Relations in Nigeria

This paper investigates three basic qualitative epithets of Government Financial Statements. These are the adequacy of the financial reporting statements in meeting the information need of diverse user groups in the country, reports utilization, and compliance of the statements with the statutory requirements. To accomplish the objectives of this paper, three hypotheses were formulated and tested. On the basis of these hypotheses, personal interview and government financial statement evaluation questionnaire were used as research instruments. The descriptive and parametric statistics were employed in analysing the data and testing the hypotheses, respectively. The paper revealed that the Government Financial Statements, in the present form, significantly comply with statutory laws but inadequate for report utilisation. There is high desire by the user groups for a more comprehensive and informative Government Financial Statements. Consequently, to improve the quality of the financial statements, it is recommended that the financial reports should be simplified with special financial reports based on users’ request. The need for emphasis on external reporting over stewardship reporting is strongly advocated. These will add value to the usefulness of Government Financial Statements