A Guideline for Qualitative Data Synthesis for Accounting Records in Financial Statement Preparation for Investment Project Feasibility Analysis in Intellectual Property and Investment Consulting Business
Keywords:
Feasibility Study, Qualitative Data, Accounting Records, Financial Statements Investment AnalysisAbstract
This study aims (1) to develop guidelines for synthesizing qualitative data for accounting recognition in the preparation of financial statements for project feasibility analysis, (2) to apply the developed guidelines in preparing projected financial statements, and (3) to evaluate the investment feasibility of the project based on the resulting financial reports using key financial indicators, namely Net Present Value (NPV), Internal Rate of Return (IRR), and Payback Period (PBP). The research employed a qualitative research methodology. Data were collected through in-depth interviews with 15 experts, a comprehensive review of relevant literature, and triangulation to ensure data validity and reliability. The collected data were analyzed using content analysis to synthesize and develop accounting guidelines suitable for businesses characterized by intangible assets and limited quantitative data.
The findings indicate that five key accounting guidelines were developed: (1) a framework for synthesizing qualitative data into accounting practices, (2) revenue recognition guidelines, (3) personnel cost management guidelines, (4) pre-operating expense recognition guidelines, and (5) guidelines for the recognition and consideration of intangible assets. These guidelines were subsequently applied to formulate financial assumptions and prepare 20-year projected financial statements, systematically reflecting the project’s revenue structure, cost structure, and financial position in accordance with financial reporting standards.
The financial feasibility analysis demonstrates that the project yields a Net Present Value (NPV) of 15.74 million baht, an Internal Rate of Return (IRR) of 88.20%, and a Payback Period (PBP) of 1 year and 3 months. Furthermore, the sensitivity analysis confirms the project’s robustness under variations in key assumptions. The results suggest that the developed guidelines serve as an effective tool for preparing financial statements and supporting investment decision-making in emerging businesses characterized by intellectual property–driven models and limited historical financial data.
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