THE ROLE OF ACCOUNTANTS IN PROJECT FEASIBILITY AND VIABILITY APPRAISAL

ABSTRACT

The entrepreneur must have a large-range outlook on the intended business investment examine the alternative uses of capital and account for inflation in future value of cash flow, forecast future events and financials requirement and carry sensitivity and risk analysis.This study provides an analysis and illustration of the principles of feasibility and viability appraisals and highlights the essence of the subject matter. It also brings into snap focus the accountants essential contributions, which have hitherto tended to be lost in wide diffusion. In view of the objective of the study already stated, the literature review examines the view of various words on the subject matter. It emphasizes on the meaning, importance and components of feasibility and viability studies historical perspective and the role of accountant thereof. Research design and methodology details the method used in carrying out the research for the project. It specifies the sources of data, target population, sampling method and also describes the research instruments and method of administration any analysis of data. Data presentation and analysis details the finding of the researcher regarding the project and examine then. Finally A useful constructive suggestions were put down so that any interested party may be well guided. The researcher went ahead to give suggestions for further study to showcase the problem of young researchers n topic selection. A specimen of questionnaire was attached in order to enable an interested party see at a glance the data used in building the work.

CHAPTER ONE

1.1     INTRODUCTION

One of the major constraints to effective project implementation especially in developing economics is lack of adequate knowledge of how to package it to appeal to the public. Project packaging constitutes a vital aspect of investment decision process. Project packaging should help to decide the practicability and worthiness to embark upon a project. A project feasibility study sometimes referred to as project study is an investigation, which ascertains the viability and worth wideness of an exiting, or a new undertaking. It is often used for securing financial assistance for project execution. It guides promoters, business managers, financial executives and other interested groups in determining the actions they must take on a project in order to bring about its successful execution. For a feasibility study to be practicable, it must involve problem identification and definition. The collection of data collected, which are relevant to all aspect of the project, the analysis of data so collected and formulation of recommendations based on the analysis. An entrepreneur who is embarking on a project must have a long-range outlook on the intended business investment examine the alternative uses of capital and account for inflation in future values of cash flows, and forecast future events and financial requirement and carry out sensitive and risk analysis. These are highly sensitive areas that require expertise skills. Project analysis was two dimensions. Firstly, the assessment of the probability of its successful implementation and also the appraisal of the contribution of the project to the specific objectives. These two aspects are referred to as the feasibility and viability appraisal.

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