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CHAPTER ONE 
INTRODUCTION
1.1  BACKGROUND OF THE STUDY
The purpose of this research work is to investigate the impact of international financial reporting standard on stock valuation on public company in Nigeria using stock or inventory, total asset, profit are taxes and share capital from 2000-2014. To investigate the level of difference in stock valuation during the pre IFRS and post IFRS period. To measure the extent to which valuation of asset differs in the pre-IFRS and post IFRS etc. the researcher made use of ex-post factor research design with data obtain from annual report of an account of five company quoted on the flow on the stock Exchange. Frequency distribution table and descriptive statistics was used for data presentation and analysis while paired sample T-test was used to test the hypothesis. It was discovered that the adoption of IFRS significantly affect stock valuation of public companies. On these note, it was recommended that the government should amend the Company’s Act in Nigeria for improving compliance, culture, provide guidelines on paper. Implementation of IFAC code of ethics for professional accountant and practitioners.
1.2  STATEMENT OF PROBLEM
Masud, (2013) disclosed that in the accounting and finance sector, companies cook figure and manipulate financial statement, tax avoidance is the norm of the day while persistent earning management is le unchecked by the authorities because of weak and ineective regulation. Most of Nigeria statement of accounting standard (SASS) or NG-GAAP issued by the NASB are out data and considered insuicient to provide the necessary guidance in the preparation of qualitative financial statement. The following challenges exist premeditated this research;
1. Apparent lack of global unifying reporting standard stock valuation assessment of companies in and outside the country. Thus giving rise to disparity in accounting reportage.
2. Presence of fraudulent preaches by corporate entities as regards under valuation of profit for tax purpose with particular emphasis on the use of LIFO method.
3. Increases investment protectial of corporate entity in the country and this heavenly tied to adoption of local accounting standard (GAAP) generally investor are oen time regarded financial statement prepared with local GAAP as inferior and lacking integrities. The researcher noted that adoption of IFRS particular for stock valuation help to address the above challenge. To help confirm these assession, this research is carry out to determined if the adoption IFRS will approve valuation of public companies in Nigeria.
1.3  OBJECTIVE OF THE STUDY
The purpose of carrying out the research work is to investigate the impact of international financial reporting standard on stock valuation in public company in Nigeria. The following strategies objective come to play.
1. To investigate the level of difference in stock valuation during the pre-IFRS and post IFRS period.
2. To measure the extent to which valuation of asset diers in the pre-IFRS and post IFRS.
3. To ascertain the different in capital valuation in pre-IFRS and post – IFRS.
4. To establish weather measurement of profitability differ in pre-IFRS and post IFRS.
1.4   RESEARCH QUESTION
i. Is there significant difference in stock valuation in pre-IFRS and post – IFRS.
ii. To what extent does valuation of asset dier in pre IFRS and post IFRS.
iii. Would capital valuation difference in pre-IFRS and posts IFRS.
iv. Does measurement of profitability dier in pre-IFRS and post IFRS.
1.5  STATEMENT OF HYPOTHESES
Ho: There is no significant difference in stock valuation in pre-IFRS and post IFRS.
Hi: There is significant different in stock valuation in pre-IFRS and post IFR.
Ho: There is no significant difference in asset valuation in pre-IFRS and post IFRS.
Hi: There is significant difference in asset valuation in pre-IFRS and post – IFRS.
Ho: There is no significant difference in asset valuation in pre-IFRS and post – IFRS.
Hi: There is significant difference in capital valuation in pre-IFRS and post IFRS.
Ho: There is no significant difference in measurement of profitability in pre-IFRS and post IFRS.
Ho: There is significant difference in measurement of profitability in pre-IFRS and post IFRS.
1.6  SCOPE OF THE STUDY
The thrust of the research work is on the impact of international financial reporting standard on stock valuation in public company in Nigeria. The need to carryout the study is motivated by difference in stock valuation method, lack of global reporting standard on valuation of corporate performance as well as under valuation of profit. In view of this, the main objective of the research is to investigate the need of difference in stock valuation during the pre-IFRS and post IFRS period. Export factor research design was adopted for use, involving the connecting of secondary data especially annual report and account of A.B.C transport company Plc, OandoPlc, Julius Berger, Nestle Nigeria Plc and Dangote Cement Plc. The time courage from the research is year 2007-2014, while the research in Asaba metropolis. Frequency distributed table and descriptive statistic are used for data presentation and analysis, while E-view and sample t-test are used to test research hypothesis. Finding obtain with a large extend disclose variation in stock valuation in pre IFRS and post IFRS .

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