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Assets valuation and its effect on the financial statements of a manufacturing company – case study of Nigeria Bottling Company
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This study examines the assets valuation and its effect on the financial statement of a manufacturing company using Nigeria Bottling company as a case study. Assets that represent the worth of the organization occupy a unique position in making the financial statement a valuable vehicle for providing information to various economic users. The following objectives are examined to analyze the accounting policy on assets valuation with emphasis on the various methods of valuing them of NBC Plc. To appraise situations where two or more of these relevant valuation concepts are in conflict and one overrides the application of the other. The descriptive method was adopted and used with a population of 150 for the findings. It reveals from the findings that the effects of such methods on the financial statement and most importantly on the equities and obligation represent the basic methods available for such valuation and requirements of such valuation in terms of disclosure. We recommend that the National Accounting Standard board should provide an alternative to the present assets valuation methods that report the effect of inflation and changes in specific prices.