The study was directed towards examining the extent of reliance of financial accounting information for effective business and financial decision in corporate organisation in Nigerian.(A Case study of First Bank of Nigeria PLC).In carrying out the examination, Certain problems were identified. These problems included the fact that some business are managed Ineffectively, In their words regardless of the information content of financial statement.
Secondly, some organizations may unknowingly employ Incompetent and unskilled manpower in sourcing financial accounting information.
The objective of the study Include factors which may constrain or promote the effective use of financial accounting information, analysing impact of and roles of financial accounting information ascertaining whether there is a direct relationship between financial accounting information and the decision
made in corporate organizations, identifying the information derived from financial accounting, with these objectives in mind, two hypotheses were
formulated, the first hypothesis is that financial accounting information has contributed to effective decision making in First Bank of Nigeria PLC and
the information content of annual financial statement of the bank is effective.The descriptive research approach was chosen for this study and both
primary and secondary data sources were explored. Two sets of questionnaire were distributed and in analyzing the data generated, simple
percentage, statistical tables and chi-square were used. After data analysis, it was discovered that financial accounting
information has contributed of effective decision making in the bank.It was also discovered that the information content of annual financial
statement is the organization is effective.Other findings made include that inconsistent accounting policies and reporting practices make Comparison
of the performance of organizations difficult, the level of information given in financial statement is highly reliable.At the end of the study answers were
provided to some basic questions such as:How reliable is the level of information in financial statement ?The rate
of effectiveness of financial accounting information in achieving organizational objectives.
Whether organizations rely mainly on financial accounting information for making business and financial decision.