Effect Of Budget And Budgetary Control On Public Sector Organization In Nigeria

Download complete project material for Effect Of Budget And Budgetary Control On Public Sector Organization In Nigeria from Chapter one to five including references

ABSTRACT

This project attempts to examine how National Judicial Council carried out budgeting systems and control procedure. The finding(s) in the project work showed that, it is better and safer fro every court to prepare or draw up budget (their expected income and expenditure) for a period of time and its is good for them to do that early enough so that it will be incorporated in the budget that the council will send to the National Assembly for approval in filling financial years.

TABLE OF CONTENTS

Title page

Certification

Dedication

Acknowledgement

Abstract

Table of Content

CHAPTER ONE

1.1Introduction                                                                           

1.2Statement of the research problems

1.3Objective of the study

1.4Scope of the study

1.5Significance of the study

1.6 Statement of Hypothesis

1.7Organization of the study

1.8 Definition of terms

CHAPTER TWO

2.0 Literature Review

2.1 Introduction

2.2Origin and the meaning of a budget

2.3Purpose of a budget

2.4Essential of a budget

2.5Budget preparation and administration

2.6Existing budgetary system in national judicial council

2.7Types of budget /budgeting

2.8 Advantages and Disadvantage of budget

2.9 Problem / Limitations of budgeting

2.10 Budgetary control, problems and solution

2.11 Budget and budgeting control in public sector organization

CHAPTER THREE

3.0  Research Methodology

3.1  Introduction

3.2  Brief History of National Judicial Council/Abuja

3.3  Research Design

3.4 Population and sample of the study

3.5  Sources of data

3.6 Methods of Data collection

3.7  Data treatment techniques

CHAPTER FOUR

4.0 Data analysis and interpretation

4.1 Data presentation

4.2    Presentation and discussion of data

4.3     Data Analysis

4.4     Testing of hypothesis

4.5     Findings

CHAPTER FIVE                                     

5.0     Summary, Conclusion and Recommendation

5.1     Introduction

5.2     Summary of finding

5.3     Conclusion

5.4     Recommendation

5.5     Suggestions for further Research

References

It was discovered that the council uses incremental system of budget preparation. In this system, budget for the next year will be higher than of the precious years by at least 25 percent. Based on the findings. It can be said that budgets is a process of planning and every organization or establishments need to plan their operation so as to achieve their goal and objective. Budget specifies who can spend what judging accountability. Thus is a read map to a traveler, budget leads an organization to desired results.

1.2 STATEMENT OF THE RESEARCH PROBLEMS

With the prevailing economics climate within the private and public sector of our economy, national judicial council has been faced with problem of not meeting its obligations. At times the blame goes to the management Accountants and other input factors. Preparation of a budget is just one aspect of budgeting. Implementation of the budget is equally as important as preparation. The issue is does Nation Judicial Council implement the budgets to the lather? Do they work within the dictates of their budget in the day-to-day operation.  

Another issue is how the information used as input to prepare the budget collected? Is systematic approach adopted? The collection of information is a very important building to budget preparation, when a budget is built on faulty and wrong information the end result is as a situation of not having a budget

However, the concern of the researcher in this study has to do with National Judiciary Council budget as it relates to its method implementatives and control of its budgetary system. It is the variance therefore that interests the researcher and hence the problem of the study.

How does National Judiciary Council carry out their budget systems on what control procedure/measure to apply to enable them meet their targeted budget?  If not met, what other relevant or constituting factors do they apply? How well do they carry out the budgetary system and control procedures?

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1.3 OBJECTIVES OF THE STUDY  

Management has the task of planning organizing, co-ordination and controlling activities in order to achieve predetermined organization objective (Sisk; 1977, P. 9). These objectives incorporate amongst other things, profit, financial position as well as social responsibility of the organization to its area of operation (society).

It must be emphasized that the achievement of organization objectives is a prerequisite toward increasing and sustaining the confidence shareholder customers and other interest groups have in the organization.

The primary objectives of this research are to examine how National Judiciary Council carries out their budgetary system and control procedure. Further, the study also seeks to:

1. Find out how budgeting helps National Judiciary Council meet its budgeted expenditure.
2. To determine the impact which budgeting has on the allocation of resources for the among various court
3. To identify the difference between budgeted and actual and to investigate reasons for the difference also to take corrective action to avoid similar inefficiencies occurring again in future.
4. Identify the major’s area of application of budgets. Establish the degree of reliance on budget as a tool for achieving organizational goal.
5. To identify problems associated with budgetary system and control and recommended solution for those problems with a view and eliminating phase problem and thereby increase the acceptability of budgeting.

1.4 SCOPE OF STUDY

This research is designed to examine the budgetary system and control procedures in National Judiciary Council. The study attempts to provide an orderly framework for analyzing plans in financial terms.

Also actual performance as compared with plans difference is analyzed and control is exercised. Since budgetary system and control procedure cut across all parts of a business, the scope if this study will therefore examine how it helps in allocating the resources of the organization and how controls are exercised over deviations and the corrective actions to take.

1.5  SIGNIFICANCE OF THE STUDY

Literature reveals that intensive researches work have been conducted almost exclusively in advance countries of the world on budgeting system and control but relatively. This research remained a problem in developing countries due to the increase political changes of government.

The primary function of budgeting is to serves as a great in planning financial operations. While the secondary function is to encourage administration officials to make careful analysis of all existing operation may be justified, expanded, eliminated or restricted.

In view of this therefore, this research generally is aimed at creating awareness of the benefit derivable from the use of budgeting as a control tool by National Judicial Council in particular; the consumers and the economy in general resulting from efficient use of available resource, considering the above issue, this work is significant in various ways specifically.

1. It will be used as a vehicle with which awareness is created in the minds of many organizations in terms of the enormous benefits of budgetary system and control procedures.
2. It will help in realizing the fact that budgetary system and control procedures are means of assessing performances.
3. It will help in reinforcing the attribute of preparing and implementing budgets of various organizations and to set up control machineries for the benefit of achieving goods results. The study is also intended to provide a sound basis upon which further studies on the subject matter can be carried out.

1.6 STATEMENT OF HYPOTHESIS

In line with nature of the research problem studies and the objective of the study, the following hypothesis with be tested on the basis of data collected from the Council.

In trying to determine the effectiveness of budgetary system and control procedures, the relationship between the budgeted cost and actual cost will be corrected.

The following hypothesis is formulated as a sort of predictions of possible results of the research works.

Hypothesis Ho: There is no significant relationship between budget cost and actual cost.

Hypothesis Ho: There is a significant relationship between budgeted cost and actual cost.

OJo (1994, P. 34) described hypothesis as a “statement of predicting what the researcher feels will be the outcome of the study” the author notes further that when hypothesis are set, the researcher does not set out to prove the hypothesis but rather collects data that will either support or reject the hypothesis.

The two hypothesis formulated are necessary follow up to the research problem and out of gives and insight to the outcome of the researched.

1.7  ORGANIZATION OF THE STUDY

This study is divided into five chapters, which are arranged in logical sequence. Chapter one, which is the introduction, takes a cursory look at the background of the study which is the foregoing and includes: the objectives; significant, scope, hypothesis, statement, organization work and definitions.

Chapter two is literature view. The review of related literature is a systematic analysis of document containing information about the problem being studied.

Chapter three is the research methodology describing the step-by-step account of method adopted to collect data for the study. In the process, there will be a comprehensives description of data and method of data collection and others.

Chapter four the data will be presented and discussed. In the same chapter, the hypothesis earlier formulated will be tested using relevant statistical techniques.

The last, but not the least, is chapter five here, the study will be concluded with analysis of findings, conclusion, recommendation/suggestion for further research and summary.

CHAPTER ONE

1.1     INTRODUCTION

The concept of budget is as old as man, even in the school age. We learnt, the early man practiced planning by determining whether be needed in advance before it eventually materialized.

The whole idea of budgeting could be comprehended if we began to elicit information on the basic concept underlying the establishment of companies/organization. The reason for making corporate bodies stays afloat and achieves a new perpetual use.

Budget (and budgeting) has become a very important tool for planning and control in the present day in the lives of individuals, states and enterprises (business and non-business organization).

The origin of budgeting and its control could be traced to Great Britain in 18^th century when money for government expenditure had to be found and was done through the medium of taxation. Under “the Bill of Right in 1189” parliament began to have right as regards the collection of taxes. Their rights were strengthened by the exchequers and Audit department act of 1866 when the modern system was evolved.

However, budgeting generally is a part of the decision making process of an entity. The idea of budgeting is an off shoot of the necessary to plan and direct the resources of management to achieve maximum result in their areas of interest. It is a financial plan for achieving set objectives of the management.

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