CHAPTER
ONE
TABLES
OF CONTENT
INTRODUCTION
- Background of the study
- Statement of the problem
- Aims and objective of the study
- Significant of the study
- Scope of the study
- Limitation of the study
- Research hypothesis
- Definition of terms and concepts
CHAPTER
TWO
LITERATURE
REVIEW
2.1 Introduction
2.2 Historical
development of budgeting
2.3 Meaning
of budget, budgeting and budgetary control
2.4 Usefulness
of budgeting in business organization
2.5 Types
of budget
2.6 Preparation
and administration of budget
2.7 Budgeting
and administration of budget
2.8 Fundamental
principles of budget
2.9 Budgetary improvement techniques
2.10 Budget
implementation and control
CHAPTER
THREE
3.1 Research
methodology
3.2 Characteristics
of the study population
3.3 Sampling
method
3.4 Research
instrument
3.5 Method of
data process
3.6 Questionnaires
CHAPTER
FOUR
PRESENTATION
INTERPRETATION AND ANALYSIS
- Presentation of data
- Analysis of data
CHAPTER
FIVE
SUMMARY,
CONCLUSION AND RECOMMENDATION
- Summary
- Conclusion
- Recommendation
References
CHAPTER
ONE
- BACKGROUND OF THE STUDY
The
fundamental question which should be asked about any enterprises is “How well
is it doing?” ad his can be rightly answered accessing the extent to which the objectives
of the enterprises are achieved.
The major objectives of the enterprises are achieved, base on profit maximization and improved future profit tend to enhance growth and survival. The increasing complexity of the business and ever changing condition of the business environment, social environment technological and political changes have made companies investors and management to realize the need for new techniques to protect and improve performance.
To
achieve the Afro- mentioned objects it becomes imperative for management of
business organization to develop ways of attaining them.
The available instrument at Management’s disposal is the adoption of adequate planning and control. one of the basic device used in planning and controlling the activities of business enterprise is by means of financial standard and management of budgeting and budgetary control.
To many the terms can not retraining influence on action service the needs or opportunity which the enterprise would like to service budgeting remains the most tactical budget is essentially on agenda setting. It is carefully designed, packaged and aimed at achieving the goals and objective of business organization or individual with the limited resources at their disposal.
According
to fubara( 1988) in his book “ business management principle and strategies.
He
further and described budgeting is a means of utilizing collective knowledge of
an enterprise to prepare a co-ordinate plan for future activities.
Budgeting
control is a techniques that emphasizes control of plan by companing actual
result against target to identify variance upon which corrective measure should
be taken to improve the performance of the enterprises.
The
primary function of business organization is production of goods and
services and make it available
for the consumers when ever is needed. All these functions are performed
in order to achieve the organizations goals which is profit maximization. Performances
are evaluated based on the actual result. To achieve the organizational objectives
there is need for adequate planning and control, efficient budgeting and effective
budgetary control system in business organization.
Budgeting
and budgetary control is very important
in business organizational due to its function in relation to planning , organize coordinating and
controlling functions of management forwards.
Successful
realization of the organizational objective. Performance evaluation in business
organization is usually base on effective decision making and efficient resources allocation. These have been
affected due to the incorporate of
budget and budgetary control.
This
improper budgetary control responsible for poor performance of some business
organization most business organization do prepare budget. Yet there are deviation
from such budgets and they fail to investigate the causes deviation and thus take
appropriate corrective measures to prevent re-occurrence most business organization sues budgeting as
just useful for planning purpose but
refuse to take cognizance of its benefits whom to revise budgets to make it reflect prevailing situation or whom to hold
responsible for budget vacancies.
- AIMS AND OBJECTIVE OF THE STUDY
The
main aim of this research work is to examine budgeting and budgetary control in
business organization in order to see the extent to which it’s to be applied in
management planning and control.
These are some of the aims of the research work.
- To examine the procedure for drawing
up budget in business organization and to know how budget are being approved
implanted, improved and revised.
- To know who there budgeting and budgetary
controls assist the managements of business organization effective decision
making and efficient resources allocation.
- To know whether the use of budgeting
and budgetary control is indispensable to achieve organizational goals and
objective.
- To evaluate performance by comparing
budgetary with actual result of the business
stand
- To know whether budgeting and
budgetary control serves as a communication tools between the top management
and the low staff.
- To provide a useful l recommendation
on the application of budgeting and
budgetary control as means of improving business performance.
1.4 SIGNIFICANCE OF THE STUDY
Several
research work have been carried out on budget and budgetary control in various business
organization like manufacturing ,
pharmaceutical and oil industries.
This
research work can be said to be a fair work on the topic. This research will share
more light on the efficient resources and effective decision making in business
organization.
This
research work can be said to be a fair
work on the topic. This research will share more light on the efficient
resources and effective decision – making in business
organization.
It will also help the student to know how relevance budgeting and budgetary control is to an individual and business organization.
BUDGETING AND BUDGETARY CONTROL IN A BUSINESS ORGANIZATION (A CASE STUDY OF AFRI BANKK NIGERIA PLC. ILORIN)
