Abstract
The goal of this study is to analyze how the historical cost approach of valuing assets in Nigerian manufacturing businesses is influenced by the fair value accounting methodology. From a total of twelve listed petroleum businesses on the Nigerian Stock Exchange, five were selected at random. As a descriptive study, secondary data was collected. The Central Bank of Nigeria's Bureau of Statistics supplied data on performance reports and stock prices for the assets under examination, while historical values were collected from the published annual financial statements of the firms and fair values were assessed using the price index. When comparing assets appraised at fair value and those valued at historical cost, the T-test statistical technique was applied to discover if there is a significant difference. Profession accounting organizations should continue to study asset valuation in order to establish a consistent method for determining the value of an asset.
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