BUDGETING AND BUDGETARY CONTROL IN GOVERNMENT OWNED PARASTATALS

Budgets are essentially forward looking and provide the yardstick for the purpose of comparism. It is a means to an end not an end in itself; hence it covers the area of responsibility of one specified person so that his performance can be measured at the end of the budget period. The main objective of this study is to find out the importance of budgeting and budgetary control in the activities of a government parastatals which had the maximization of profit as its principal business objective. This includes the importance of budgetary control to decision making. The researcher intends to find out the procedures adopted in the formulation and implementation of annual budgets in Anambra State Housing development Corporation. The study will also determine when there is correction between the type of budget implemented and their actual performance. Another purpose of this study is to determine whether or not budgetary control as a management tool contributed to the improvement of managerial efficiency and high productivity. It is also intended to find out the impact of the use of budgetary control as an appraisal parameter for assessing managed, budget or cost centers;