FEDERAL UNIVERSITY OF TECHNOLOGY, MINNA

(Bursary Department)
15 th June, 2010

The Honorable Speaker,

Niger State House of Assembly,

Minna.

Sir,

REQUEST FOR LAB – TOP OR SET OF DESKSTOP COMPUTER

1. I hereby request for your personal assistant on above subject matter.

2. I was admitted into Niger State Polytechnic, Zungeru to study HND IN
ACCOUNTANCY for a period of two sessions.
3. The Computer will assist and guide most especially in the practical aspect,
such as excel, project etc.
4. I will be appreciate, if My request is given a favourable consideration and I
pray The Almighty God to guide You and Your Family, and I wish You happy
success throughout Your tenure in the Office.
5. Thanks for your highly co-operation.

Isah Liman Yiddan

FEDERAL UNIVERSITY OF TECHNOLOGY, MINNA
(Bursary Department)
8th July, 2010

The Registrar,

Federal University of Technology,

Minna.

Throgh:

The Bursar,

Federal University of Technology,

Minna,

Through,

The Chief Accountant (cash office)

Federal University of Technology,

Minna.

Sir,

RE- NOTIFICATION OF ADMISSION

1. Reference to my letter dated 1st April, 2010 on above subject matter, copy attached
please.
2. With due respect, I hereby notify the University Authority of my one year pre- HND
Admission with Niger State polytechnic, Zungeru on part time basis, that the program is
at no cost to the University.
3. In the light of the above, I hereby request for permission to be off from duty on every
Friday of the week, this is to enable me attend the lecture behind schedule.
4. Forwarded for your highly consideration and approval please.

Thanks you.
 Isah Liman Yiddan

JPF: 743

FEDERAL UNIVERSITY OF TECHNOLOGY, MINNA

(Bursary Department)
8th July, 2010

The Registrar,

Federal University of Technology,

Minna.

Throgh:

The Bursar,

Federal University of Technology,

Minna,

Through,

The Chief Accountant (cash office)

Federal University of Technology,

Minna.

Sir,

RE- NOTIFICATION OF ADMISSION

Reference to the letter dated 5th July, 2010 on above subject matter, copy attached please.

With due respect, I hereby notify the University Authority of my one year pre- HND Admission
with Niger State polytechnic, Zungeru on part time basis, that the program is at no cost to the
University.

In the light of the above, I hereby request for permission to be off from duty on every Friday of
the week, this is to enable me attend the lecture behind schedule.

Submitted for your kind consideration and approval please.

Thanks you.

Aisha A. Adamu

PF: 1657

SUMARY OF ENTREPRENEURSHIP HAND BOOK

CHAPTER ONE

The time entrepreneurship is accepting the risk of starting and running a

business. It involves taking the risk to engage in any meaningful and lawful
venture.

Reason of taking risk to start a business are as follows:-

1. Opportunity: - To take advantage of opportunities in our environment.

2. Profit: - The essence of any kind of investment is to make a rational return.
3. Independence: - It is more delightful to be an employer than to be an
employee.
4. Challenge: - Running your own business, entrepreneurs take moderate,
calculated risk, they are not gambling

CHARACTERISTICS OF AN ENTREPRENEUR

1. Self directed:- An entrepreneur must be focused and convinced on what he

wants to do.
2. Self – Nurturing:- An entrepreneur believes in his ideas even when no one
does.
3. Highly- Energetic:- Since an entrepreneur owns his business, his level
determines his success.
4. Tolerant of uncertainty:- Entrepreneurship is not for the person bent on
security, it must be able to take some risks although, it is mostly calculated
risk.
5. Action – Oriented:- Successful entrepreneurship does not end in good
vision.

THE ROLE OF ENTREPRENEUR IN NATIONAL ECONOMIC DEVELOPMENT

 1. The major function performed by an entrepreneur is innovation; it can lead
to the development of many enterprises that can make economic
contributions to National development.
2. They can create jobs for the unemployed youths. Many youths can be
gainfully employed in small and medium enterprises.
3. Entrepreneurs are useful in the promotion of indigenous economy.
4 An Entrepreneur with foresight must ensure the promotion of new
techniques and management innovations.
5 An Entrepreneur market products and respond to competition through
sales promotion and promotion and product production.
6 Most Entrepreneurs start as small enterprises. This agrees with the adage
that big start small, they provide avenue for training, manpower for large
business undertakings.
7 The Entrepreneurs have been contributing input to the making of various
government policies and programs, which are designed to develop
economy.

EMPLOYMENT

Employment is a contract between two parties, one being the employer and the
other being the employee.

SELF-EMPLOYMENT

When an individual entirely owns the business for which he or she labours, this is
known as self- employment.

The benefits of self- employment includes;-

a. It offers the employee the opportunity of engaging in the trade or business

talent.
b. It creates in the employed a sense of fulfillment and satisfaction.
c. The self-employed is spared the rigours of job seeking and hurdles
associated with promotion requirement.
 d. The self-employed are thus a creator and master of his fortunes; He decides
his own work programs, work hours, what to produce and where to
produce.

ENTREPRENEURSHIP TASKS

a. Leadership is derived from the term leading, which is the focal part of
entrepreneur’s role that involves working with and through others in
utilizing the material resources of an organization to accomplish its
objectives.

Conditions that are necessary for an effective leader to emerge in any

organizational settings are;-

a. The presence of people followers.

b. The presence of an identified group whether formal or informal.
c. The leader’s capability to exercise power and authority and to delegate
same to members appropriately.
d. A leader should be able to influence follows in a variety of ways using both
formal and informal sources of influence.

DECISION MAKING;-

Decision-making is the selection from among alternatives of a course of action.

It is at the core of planning. A plan cannot be said to exist unless a decision of
commitment of resources, direction or reputation has been made.

TIME MANAGEMENT;-

To manage time effectively, the business owners needs to be able to do the

following;-

a. Manage oneself effectively.

b. Find out time is currently spent and where it is wasted.
c. Determine priorities.
d. Delegate.
e. Manage meetings effectively.
 f. Manage relationships effectively.

SELF MANAGEMENT;-

To live the life described in the mission requires two steps;-

a. Identifying the roles that the individuals will perform in which the mission will
be fulfilled and
b. Indicating how those roles will be performed.

REPAYMENT SCHEDULE OF MACHINE

LOAN RECEIVED ON 26TH JUNE 2010

MONTH AMOUNT SIGN/DATE

1. 12TH JULY, 2010 = ^5000.00 --------------------

2. 26TH JULY, 2010 = 5000.00 --------------------
3. 9TH AUGUST, 2010 = 5000.00 --------------------
4. 23TH AUGUST, 2010 = 5000.00 --------------------
5. 6TH SEPTEMBER, 2010 = 5000.00 -------------------
6. 20TH SEPTEMBER, 2010 = 5000.00 -------------------
7. 4TH OCTOBER, 2010 = 5000.00 -------------------
8. 18TH OCTOBER, 2010 = 5000.00 -------------------
9. 1ST NOVEMBER, 2010 = 5000.00 -------------------
10. 15TH NOVEMBER, 2010 = 5000.00 --------------------
11. 29TH NOVEMBER, 2010 = 5000.00 --------------------
12. 13TH DECEMBER, 2010 = 5000.00 --------------------
13. 27TH DECEMBER2010 = 5000.00 --------------------
14. 10TH JANUARY, 2010 = 5000.00 --------------------
15. 24TH JANUARY, 2010 = 5000.00 --------------------
16. 7TH FEBRUARY, 2010 = 5000.00 --------------------
17. 21ST FEBRUARY, 2010 = 5000.00 --------------------
 18. 1ST MARCH, 2010 = 5000.00 --------------------
19. 21ST MARCH, 2010 = 5000.00 ---------------------

=========

PAID BY; RECEIVED BY;

NAME; NAME;

SIGN; SIGN;

D ATE; DATE;

NIGER STATE POLYTECHNIC, ZUNGERU

(Department of Accountancy)

16 th August, 210

REPORT ON STUDENT’S INDUSTRIAL WORK

EXPERIENCE SCHEME (S.I.W.E.S)

1. TITLE: Collection of internally generated revenue (IGR), Issuance of receipt,

banking the proceed as at when due and proper records keeping of (IGR)
and Security document as well at Cash Office of the bursary Department, of
Federal University of Technology Minna.
2. INTRODUCTION: The financial regulations provided that there will be
Accounting Officer responsible for collection and accounting of internally
generated revenue of any Organization, as fees and levies will be approval
by the Management of the Organization. The accounting Officer will collect
and promptly keep custody of his receipt for banking as at when due and
submitted all his activities to the Bursar as at when due.
3. BODY: I was posted to the Cash Office of the Federal University of
Technology Minna as a revenue collector, receipt was given to study and
 issue for proper guidance, there where different payment to be made by
Staff, Student and other for service.

The Head of Cash Office brief me with the general activities in the Office
and encourage me to be hard working, for what will be doing here on
Industrial assignment will be an experience for both Academic and service
career.

Receipt of cash for payment of Staff School fees, purchase of forms,

contractors registration, replacement of ID card, payment of IT allowance,
NYSC allowance petty cash Imprest, sales of post UME result checker
scratch card, filling of payment schedule and entry of petty cash expenses
into petty cash.

Using official receipt as to summarized cash collection and proceed for

proper record keeping this entails what is receipt and bank as at when due.

After all observation and enlighten, I am full involve in the activities of the
office which I participated in all the activities for the period of my Industrial
working experience this are collection of IGR, banking the proceed on daily
basis and keeping the records of deposit slip.

4. CONCLUTION: At the end my Industrial working experience I learn how to

Issue receipt, collect sales proceeds and bank the amount realized also
learn how to keep proper records, make entry into petty cash book and
getting to know being an Accountant is trust wordy and integrity.
5. RECOMMENDATION: After enjoying the privilege as a result of SIWES, I
strongly recommend that, the government or the body catering for
Education either NUC or NBTC should make it compulsory to all
undergraduate students to pass through the scheme.

Prepared by: Aishatu Abdullahi Adamu

Adm. No: 102

Course: Accountancy (s)

FEDERAL UNIVERSITY OF TECHNOLOGY, MINNA

(Bursary Department)
4th October, 2010

The Bursar,

Federal University of Technology,

Minna,

Through,

The Chief Accountant (cash office)

Federal University of Technology,

Minna.

Sir,

CHANGING OF SALARY BANK ACCOUNT

 1. This is to request for the above subject matter from First City Monument Bank PLC
Minna branch A/C No. 074204035338430 to UBA PLC Minna branch A/C
No.00540520122126.
2. Forwarded for your kind consideration please.

Thank you.

Isah Liman Yiddan

JPF: 743

FEDERAL UNIVERSITY OF TECHNOLOGY, MINNA

(Security Services Department)

15th August, 2010

Your Ref:

Our Ref; VC/US/03/VOL.V/605

The Bursar,

Federal University of Technology,

Minna.

Sir,
 REFUND OF THE SUM OF TWELVE THOUSAND

NAIRA (^12,000) ONLY FOR THE PURCHASE OF

STANDING FAN FOR THE DESK TOP COMPUTER

This is to refund the above subject matter.

Attached is the payment receipt forwarded for your information please.

Thank you.

Buhari Aliyu

Director, University Security Services

File

FEDERAL UNIVERSITY OF TECHNOLOGY, MINNA

(Bursary Department)
29th November, 2010

The Bursar,

Federal University of Technology,

Minna,

Through,

The Chief Accountant (cash office)

Federal University of Technology,

Minna.
Sir,

QUOTATION FOR THE REPAIRS TO FG 58 Y50

The above vehicle seems to developed some problems and for not allows it to cause more
damages to the car, the following parts are hereby request urgently for the replacement. These
includes:-

1. 2 front shock absorber @8500 = ^17,000

2. 2 Rear shock absorber @9500 = ^19,000
3. 1 front Engine seating = ^ 6,000
4.
5. Compressor servicing & Gas = ^ 4,000
6. Labour = ^ 5,000
Total Amount = ^56,000
=====

Forwarded for your kind consideration please.

Thank you.

Bala Idris

Driver

HOBBIES: Snooker, Reading and Chatting

REFERIES

ISAH LIMAN YIDDAN

Bursary department,

Federal University of Technology,

Minna.

Phone No: 08023405588

MOHAMMED .J. IBRAHIM

Secretary, N.Y.S.C. Secretariat,

Minna.

Phone No: 08035982866

AMINA SAIDU

Health Personnel,

General Hospital,

Minna.

Phone No: 08056409384

TABLE OF CONTENTS

TITLE PAGE--------------------------------------------------------------------- i

DECLARATION---------------------------------------------------------------- ii

APPROVAL PAGE------------------------------------------------------------- iii

DEDICATION------------------------------------------------------------------- iv

ACKNOWLEDGEMENT------------------------------------------------------ v

ABSTACT ----------------------------------------------------------------------- vi
TABLE OF CONTENT--------------------------------------------------------- vii

CHAPTER ONE

1.0 INTRODUCTION--------------------------------------------------------- 1

1.1 STATEMENT OF THE PROBLEM------------------------------------ 2

1.2 PURPOSE OF THE STUDY--------------------------------------------- 2

1.3 SIGNIFICANCE OF THE STUDY-------------------------------------- 3

1.4 RESEACEH QUESTION-------------------------------------------------- 4

1.5 SCOPE OF THE STUDY-------------------------------------------------- 4

CHAPTER TWO

2.0 LITERATURE REVIEW----------------------------------------------------- 5

2.1 DEFINITION AND DESCRIPTION OF SOLE PROPRETORSHIP-- 7

2.2 FEATURE OF SOLE PROPRIETORSHIP-------------------------------- 9

2.3 FORMATION OF SOLE PROPRIETORSHIP---------------------------- 11

2.4 ADVANTAGES AND DISADVANTAGES OF SOLE

PROPRIETORTORSHIP------------------------------------------------------ 13

CHAPTER THREE

3.0 RESEARCH MECHODOLOGY------------------------------------------ 18

3.1 INSTRUMENTS USED IN DATA COLLECTION-------------------- 18

3.2 RESEARCH POPULATION AND SAMPLE SIZE-------------------- 19

3.3 SAMPLING PROCEDURE USED---------------------------------------- 19

3.4 INSTRUMENT FOR DATA ANALYSIS-------------------------------- 19

CHAPTER FOUR

4.0 ANALYSIS AND INTERPRETATION OF DATA--------------------- 20

4.1 PROBLEMS OF SOLE PROPRIETORSHIP IN NIGERIAN---------- 22

4.2 PRESCRIPTION FOR OVER COMING PROBLEMS MILITATING AGAINST

SOLE PROPRIETORSHIP--------------------------------------- 27

4.3 PROSPESCTS OF SOLE PROPRIETORSHIP------------------------------ 30

CHAPTER FIVE

5.0 SUMMARY, CONCLUTION AND RECOMMENDATION --------- 32

5.1 SUMMARY---------------------------------------------------------------------32

5.2 FINDINGS---------------------------------------------------------------------- 33

5.3 CONCLUTION---------------------------------------------------------------- 34

5.4 RECOMMENDATION--------------------------------------------------------36

5.5 REFERENCES ----------------------------------------------------------------- 37

vii

DECLARATION

I solemnly declare that this project have been conducted solely by me under the
guidance of Mallam Ibrahim Sojeko Department of Business Education, Niger
State Polytechnic Zungeru.

Writer whose works have been referred to in this project have been
acknowledged.
 ii

APPROVAL PAGE
This is to certify that this project is original work undertaken by Isah Liman Yiddan
and has been prepared in accordance with the regulation covering the
preparation and presentation of project in Niger State Polytechnic Zungeru.

----------------------------------------------- ------------------------------------------------

Project supervisor Date

------------------------------------------------- ----------------------------------------------

Head of Department Date

----------------------------------------------- -----------------------------------------------

External supervisor Date

iii
 DEDICATION

This study is dedicated to my Parents, Friends, Brothers, Sisters, Wife,

Children’s and lovely sponsors for their encouragement, assistance,
provision and scarifies throughout period of my course.

iv
 ACKNOWLEDGEMENT

To start with, I have to thank the Almighty God who spare my life and grant me
the opportunity to reach this level of education.

For success and completion of this project, it was by the co-operation and
assistance of other people s therefore, it will be unwise to conclude the project
without showing sign of appreciation to them.

My sincere acknowledge is to Mallam Ibrahim Sojeko( my project

supervisor) who despite his numerous personal problems spare time to go
through my manuscript and use offered his Fatherly advice and made useful
correction when it arise, by this, and I am able to complete my work.

I sincerely thank him very much and may Almighty God guide him and his
family at large Amin.

I owe a great deal of gratitude to my parents who serve as a pillar behind

my Education.

I also thank the management of Shades Enterprises Nigeria Limited for their
assistance in providing information for this study.

My family also need to be praised for their endurance throughout the

period of my leaning, may Almighty God reward them Amin.

v
 ABSTRACT

The research work is designed to find out the problems and prospects of sole
proprietorship business in Nigeria. A case Study of Shades Enterprises Nigeria
Limited, Minna.

The research work was aimed at assessing the following; In writing this
project, the researchers have therefore divided the whole topic into five chapters,
chapter one shows an introduction to the problems and prospects of sole
proprietorship business in Nigeria.

Background of the study, statement of the problem, the objective of the

study, significant of the study, definition of terms of and hypothesis of the study.

Chapter two of the project deals with the review of literature, that is
highlights of the existing literatures related to the research topic.

Chapter three deals with the method used by the researchers in collecting
data necessary for the compilation of the topic.

Chapter four the researcher presents analysis of the data, discussion of

finding and summary of findings.

And finally, chapter five chapter five of the project is a summary and
conclusion, recommendation on all the chapters.
 vi

NAME: IBRAHIM SALIHU MOHAMMED

COURSE: HND IN ACCOUNTANCY

DATE: 16/02/2011

ASSIGNMENT ON ADVANCED ACCOUNTING THEORY & PRACTICE

NIGERIAN ACCOUNTING STANDARDS BOARD

The Nigerian Accounting Standards Board ( NASB, or the Board) has

been in existence for several years. However, the Board was formally
established by the National Assembly Vide the Nigerian Accounting
Standards Board Act, 2oo3 (signed 10th July, 2003)

Function of the Board

The Function of the NSAB, amongst others, are to:

a. Develop and publish Statements of Accounting Standards (SAS) to

be observed in the preparation of the financial statements .
b. Promote the general acceptance and adoption of such standards
by preparer (your Company accountant, Directors and external
auditors) and users of the financial statements.
c. Promote and enforce compliance with the standards developed or
reviewed by the Board.
 d. Review, from time to time, the accounting standards developed,
in line with the prevalent social economic and political
environment.
e. Receive from time to time, notices of non- compliance of the
accounts with the standards from the preparer (with the lower)
user, or auditor.
f. Receive copies of qualified audit reports together with detailed
explanations for such qualifications from auditors of the accounts,
within a period of 60 days from the date of such qualification.

The NASB Inspectorate Unit

The Inspectorate Unit of the NASB shall, amongst other functions:

a. Enforce compliance with the standards developed and reviewed

by the Board, by carrying out any examinations and enquiries to
ascertain whether or not the provisions of the Act, or any
regulation made, are being complied with.
b. Impose such sanctions as may be prescribed by the Board.
FEDERAL UNIVERSITY OF TECHNOLOGY, MINNA
(Bursary Department)
14th March, 2011

The Bursar,
Federal University of Technology,
Minna,

Through,
The Chief Accountant (cash office)
Federal University of Technology,
Minna.

Sir,
REQUEST SALARY ADVANCE OFTHE SUM OF ^25,000 FOR REGISTRATION

1. With due respect, I hereby request for the above subject matter please, this
is to enable me paid my registration fees for this semester before the
closing date of 23rd march 2011.
2. The fund should be deducted in my salary on installment.
3. Attached is the payment schedule forwarded for your highly consideration
and approval please.

Thanks you.
Isah Liman Yiddan

JPF: 743