This study hinges on the effect of borrowing cost (IAS 23) on the financial reporting quality of Small and Medium Scales Enterprises (SMEs) in South East Nigeria. This is because the measurement of borrowing cost in the financial reports of most SMEs operators in Nigeria is highly incomprehensible even after IFRS implementation in Nigeria. This unsatisfactory disposition reveals that SMEswith high-debt-ratio are prone to manipulate earningsin order to increase their reported earnings and avoid the debt covenant default which all togetherundermine the financial reporting quality of these firms.Most SMEs still subscribe to indiscriminate treatment of borrowing cost while the effect of borrowing cost on financial reporting quality is equally not known with certainty. To this end, the study evaluates the effect of borrowing cost on value relevance, faithful representation, comparability and understandability of the financial reporting of SMEs in South East Nigeria. To this end, primary data were elicited from 284 respondents. Hypotheses were tested using the Analysis of Variance and it was discovered that appropriate measurement of borrowing cost enhances the recognition of interest and other expenses incurred by an entity connected with borrowing cost. It also engenders the predictive and confirmatory value of the accounting numbers and helps SMEs to avoid all forms of misrepresentation and biasin their financial reports.

The study focused on taxpayers’ attitude and demographic analyses of SMEs operators in Rivers and Akwa-Ibom States – Nigeria. It was motivated by the need for Nigerian tax authority to create a well-planned and comprehensive approach to enhance favourable tax attitude in order to deal with the problem of tax evasion; coupled with the lag in sufficient empirical works on tax payers’ attitudes in Nigeria.The objectives of the study were to examine the differential effect of gender, age differences, marital status and educational level on tax payers’ attitudes in Nigeria. Survey research design was adopted. The study was limited to SMEs operators in Rivers and Akwa-Ibom States. From a population of 28,585 SMEs operators, a sample size of 1150 was used. ANOVA was used to test the hypothesis. The findings show that: there is no significant difference on the effect of genders, age differences and marital status on tax payers’ attitudes in Nigeria. However, there is a significant difference on the effect of educational level on tax payers’ attitudes in Nigeria. It was therefore recommended that tax authority should always consider the educational stratification of SMEs operators before developing approaches to instigate favourable tax compliance; and SMEs Operators with high compliance track records should be celebrated by tax authority and they should be encouraged to engage in word-of-mouth communication to communicate to others on the benefits of tax payment