Definition of Cost Accounting

Cost may be defined as the amount of cash equivalent or the fair value
of other consideration given to acquire an asset at the time of its acquisition or construction.

To the economists, cost is what must be given up in order to obtain something. Accountants, extending the perspective of economist, view cost as the value of economic resources used in the production of goods, services, income or profit. Accounting is a term desired from account and which is simply defined as an expression of transaction.

A Review and comparison of Entrepreneurship Development in Nigeria with Japan, South Africa, Malaysia, India and Dubai.

Introduction

Nigeria is naturally endowed with entrepreneurship opportunities; however the realization of the full potential of these opportunities has been dampened by the adaptation of inappropriate industrialization policies at different times. Several policy interventions that were aimed at stimulating entrepreneurship development via small and medium scale enterprises promotion, based on technology transfer strategy, have failed to achieve the desired goals as it led to the most indigenous entrepreneurs becoming distribution agents of imported products as opposed to building in-country entrepreneurial capacity for manufacturing, mechanized agriculture and experts services.

One of the goals of economic development strategies pursued by many countries of the world has been improvement in the standard of living through job creation. Entrepreneurship development is no doubt a vital tool in fostering job creation. Entrepreneurs orchestrate transformations and create new channels for economic activity and employment. Petrin (1994) emphasized that for countries to accelerate economic development in their rural areas, it is necessary to build up the critical mass of first generation entrepreneurs. Thus, all countries that wish to pursue continued development must encourage entrepreneurship.

History of Entrepreneurship in Nigeria