Effect Of Feasibility Study In Achieving True And Fairness Of Accounting Record

Introduction

1.1 Background of Study

Small business owners tend to over look the need to carryout a feasibility study before embarking on the business. They do not need to go through the rigors of conducting a research. The small business owner fast to realize that planning is an essential ingredient to business success, irrespective of the size of business. But with the passage of time and development in the town and urban areas fast food business was carried out in hired premises such as kiosks by a few people, but due to the arrival expatiates in the 1960"s armed at serving office worker"s.
Also, with the growing emphasis on education, the roadside sellers and hawkers moved their business to catering for school children during break-periods.

Thus, fast foods were offered for sale, most of the fast food out lets are being operated in unhygienic environment which contrarenes the health regulations and food service; act of 1971. These out lets are mostly small scale business, because, because they require low capital out lays, few number of employees and less technical requirement.

The fact food industry in Nigeria is a viable field of investment, in spite of the present economic predicament, if properly planned, developed and executed, it would no doubt be a great revenue earner for the investor.

Since fast food operate have become the thing and eating out is becoming popular in Nigeria. The need to carry out a feasibility study on the effective and efficient management of the business can not be over emphasized.

1.2 Statement of the Problem

Why is there a need to carryout a feasibility study or the establishment of any business?

The fast food industry is said to be one of the easiest forms of business of establishment. But most of those business outlets tend to fail with In the first few years, mostly due to lack of planning, more often then not, they over look the need to scan the environment in terms of business strengths, weakness, opportunities and threats (SWOT ANALYSIS).before embarking on the business.

Food intake is an inevitable activity in human race, specifically, entrepreneurs should devote more time and efforts to the feasibility research study ; son as to identify and the technicalities involved in carrying out the proposed business .

1.3 Relevant Research Questions

What are the uses of feasibility study of the establishment of the snack bar?

Is the snack bar business a creative one?

Is the feasibility study attributed to the educational qualification background of the entrepreneur?

Is the feasibility study a futile exercise?

How much does it cost to establish the business

What are the environmental actors effecting the business?

What are the likely solutions to the problems facing the snack bar business?

1.4 Objectives of the Study

The Primary objective to this research work was to determine feasibility study and business objectives of a snack bar business.

The other objectives are as follows:

Dire an insight on the usefulness for the feasibility study for the snack bar business.

To provide information in the critical snacks and problems facing the snack bar business and to proffer likely to the problems.

To identify the necessary requirements for the establishments of the business in relation to the contents of the feasibility report.

To give an insight on the profitability of the business as a result of carrying out a feasibility study.

1.5 Scope of the Study

This study concentrated on the activities of the snack bar of the fast food outlet with respect to the organic business functions such as marketing production, finance and personnel.

This study was limited to Mr. Bigg"s Ibrahim Taiwo Road Ilorin.

This study based its research on the snack bar as subject of the fast food outlets.

1.6 Definition of Terms

i. Entrepreneur

Starts and organize a commercial enterprises is a personal who imidying financial ask.

ii. Profitability

Ability to make gain in business in terms of many especially the amount earned and the amount spent.

iii. Viability

Capable of developing and surviving independly

iv. Planning

The action or process of making plans or something deciding in advances.

v. Investment

To develop business enterprises in order to earn interest.

Summary, Conclusion and Recommendation of the Study

5.1 Summary of the Major Finding

It is known fact that the importance of feasibility study cannot be over emphasized in achievement small scale business objective.

The purpose of the study is to elicit information aboard how to achieve small scale business objective through feasibility study. The study is based on Mr. Biggs Taiwo, Ilorin Questionnaire was the instrument adopted for the date collection for the data collection. For the study although personal interview was also employed in order to waive at the conclusion.

The information gathered help to find out whether the present practice has been to assist in achievement organization objective is well known fact especially to the government business concern, small scale business concern and financial institution that environment is dynamic and volatile with a lot of innovation and advancement emanating daily through technology research and development. As we are in the Jet age, all these changes and innovation, required adequate and effective feasibility study be able to meet up effective dynamic small scale business needs.

5.2 Conclusion of the Study

Based on the research works after taking a critical look into impact of feasibility study and small scale business objective, the following conclusion were drawn out that feasibility study enable quite number of the respondents to manage their business efficiently and effectively.

Personal interview and survey investigation have shown that feasibility study reduces the risk of embark able on a business that is destined to fail.

Finally one could say with a lot of optimism that small scale organization intending to minimize business future has to make use of feasibility study.

5.3 Recommendation for the Study

For any research work to be effective it must offer recommendation for the solution of any element of inefficiency discovered for the future benefit of the public.

One of the problems facing the entrepreneur of the small scale business is ignorance and fear of risk.

Most of the entrepreneur cannot established the new scale business is ignorance and fear of risk however, if efficiency and effectively conducted reduced the risk.

The following recommendation are hereby made based on the confusion drawn seminar and workshop should be held for intend entrepreneur in the importance of feasibility it uses contents and the preparation of the study.
Feasibility study should be included as a compulsory course in the school curriculum beginning from culture of starting ones own business. This will go a long way to reduce the problem of unemployment.

The government should create the enabling environment for business to survive, such as adequate power supply and relevant infrastructure that will boost production and business operation as a whole.

Title page

Certification

Dedication

Acknowledgements

Table of Content

Chapter One

1.0 Introduction

1.1 Background of the Study

1.2 Statement of the Problem

1.3 Relevant Research Question

1.4 Objectives of the study

1.5 Definition of the Terms

Chapter Two

2.0 Literature Review

2.1.1 Meaning of feasibility study

2.1.2 The Importance of Carrying out a Feasibility Study of a Snack Bar

2.1.3 The Uses of Feasibility Report

2.1.4 Why Should the Small Business Owner Embark Upon a Feasibility Study

2.1.5 The Major Features of Feasibility Study for Small Business Enterprises

2.1.6 The Experts Who Writes the Feasibility Report

2. 1 .7 Decision Making process in Feasibility Study

2.1.8 Graphical Illustration in Decision Making Process Feasibility Study (Business Plan)

2.1.9 Meaning of Small Scale Business

2.1.10 Historical Background of the Small Scale Business in Nigeria

2.1.11 National and Characteristic of Small Scale Business

2.1.12 Relevant Discussion on Small Scale Business Objective

2.1.13 The Problems and Prospects of Small Scale Business

2.1.14 Prospect

2.1.15 Relations Between Feasibility Study And Small Scale Business

Chapter Three

3.0 Research Methodology

3.1 Historical Background Of The Mr. Biggs Barrv Ibrahim Taiwo Road Ilorin, Kwara State.

3.2 Organizational Structure (Headquater) Mr Biggs

3.3 Research Design

3.4 Population of The Study

3.5 Sample And Sampling Design

3.6 Data Collection Instrument

3.7 Administrative of Data Collection Instrument

3.8 Data Analysis Technique

3.9 Validity And Reliability Of Research Instruments

3.10 Limitation Of The Study

Chapter Four

4.0 Data Presentation and Analysis

4.1 Presentation of data

4.2 Analysis of data

Chapter Five

5.0 Summary, Conclusion and Recommendation

5.1 Summary

5.2 Conclusion

5.3 Recommendation

References.

• Accounting Project Topics and Materials