International Journal of Academic Health and Medical Research (IJAHMR)   Year: 2022 | Volume: 6 | Issue: 9 | Page No.: 76-86 Implementation of Ipsas Accrual Basis Elements and Financial Reporting Quality: Application of Grassroot Analyses Download PDF Ugwu, Ikechukwu Virginus Ph.D; Eboatu Ikenna; Nwoko, Cyprain N. J Abstract: This studied investigated the implementation of IPSAS accrual basis elements (Assets, Liability, Net assets/Equity, Revenue/Expenses) on financial reporting quality FRQ in Nigeria. Area of study considered the three tiers of government (Federal, State, Local government) within the public sector in Enugu State. Our methodology applied grass roots opinion (primary questionnaire) survey design with a focus on 376 sample size that was determined using Slovin's formula on estimated population. The instrument sort the respondents (accountants and auditors) view on the implementations of IPSAS accrual basis elements on FRQ. Analyses employed: Descriptive Statistics, Pearson Correlation Matrix, Ordinary Least Square (OLS) Regression and other Diagnostics Tests. Findings support the a priori expectations that New Public Management NPM theory states that proper public sector management improves its FRQ. Overall findings: indicated that all the independent components explain about77% systematic variation in the dependent variable; the balances are attributable to other factors outside the scope of this study. Other specific findings show that IPSAS accrual basis reporting on: (assets); (Liabilities) and (Revenues/Expenses) are positive and significant; while reporting on Net Asset/Equity is negative and insignificant on FRQ in Nigeria. We recommend that governments should ensure that: Federal, State and Local government; fully adopt IPSAS Accrual Basis Elements. We contribute with the model applied for this study, and the composite significant impacts of the elements of IPSAS Accrual variables applied. Implications of the study findings are that the scope covered three tiers of government within Enugu State; thus care must be taken in generalizing the result in other sectors elsewhere and outside Nigeria.