Download complete project materials on Budgeting & Budgetary System As An Effective Tools For Planning & Controlling In An Organization from chapter one to five
TABLE OF CONTENT
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TITLE PAGE
CERTIFICATION
DEDICATION
ACKNOWLEDGEMENT
LIST OF TABLE
CHAPTER ONE
INTRODUCTION
BACKGROUND OF THE STUDY
STATEMENT OF THE PROBLEM
OBJECTIVE OF THE STUDY
RESEARCH QUESTION
HYPOTHESIS FORMULATION
SIGNIFICANT OF THE STUDY
SCOPE OF THE STUDY
LIMITATION OF THE STUDY
CHAPTER TWO
LITERATURE REVIEW
INTRODUCTION
BUDGETING DEFINED
PURPOSE OF BUDGETING
THE BUDGETARY SYSTEM
TYPE OF BUDGETING
BUDGET TERM
BUDGET EXCUSION
BUDGET REVIEW AND CONCLUSION
CHAPTER THREE
RESEARCH METHODOLOGY
INTRODUCTION
POPULATION OF THE STUDY
IDENTIFICATION OF SAMPLE SIZE
DATA COLLECTION METHOD
PROCEDURE FOR ANALYSIS DATA COLLECTED
RESEARCH DESIGN
ADMINISTRATION OF DATA COLLECTION INSTRUMENT
HISTORICAL BACKGROUND OF THE CASE STUDY
CHAPTER FOUR
DATA PRESENTATION ANALYSIS AND INTERPRETATION
INTRODUCTION
PRESENTATION AND ANALYSIS OF DATA ACCORDING TO RESEARCH QUESTION
TESTING OF HYPOTHESIS
RESULT FINDINGS
CHAPTER FIVE
5.0 SUMMARY, CONCLUSION AND RECOMMENDATION
SUMMARY
CONCLUSION
RECOMMENDATION
BIBLIOGRAPHY
CHAPTER ONE
INTRODUCTION
BACKGROUND OF THE STUDY
Budgeting concept is as old as man. We learn from history that the warmly man had to determine what ever he needed in advance before it eventually materialized.
This is very obvious in the present day lives of individual of state or a nation. As a nation plan ahead in term of revenue and expenditure within a specified period of time. So also an individual or state conceptualized anticipated revenue and disbursement within a specified period of time.
Every establishment, be it public or private when planning, find it necessary to incorporate budget and institute a proper executive for the purpose of translating policies, coordinating activities as well as financial control in order to achieve the last result.
Budget planning is the process of preparing detailed short term plans know as budget for the function activities and departments of the organization and converting the long term corporate plan into action.
The budgetary process is an integral part of both with planning and control. Too often budget are associated with negative penny pending control activities where as the full process is much broader and more positive than that. Budgeting is about making plans for the future implementing those plans and monitoring activities to see whether they conform to the plan.
To do this successfully, it requires full top management support, co-operative and motive middle managers and staff, as well as organized reporting system.
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The need for control system and performance report has become over more critical in every years as a result of excessive budget restriction even for the manufacturing and service organization.
Control functional operation of any business organization depends certain essential elements such as:
- There must be an information system that records programs of an activity or group of activities for a specific length of time.
- A structural organization element to which the activity is assigned.
- A formed reporting document for generating FEEDBACK of achievement level to the supervisor or manager of the organization
- A planned pre-determined activity measure against which actual achievement measure can be compared.
- A decision making capacity that exists within the organization element or unit to take action that will bring achievement level in line with the planned level.
The above five element are of paramount important to the concept of control in a nutshell, a budget is a parameter which measure, firms e.t.c while planning invest systematically looking into the future so that decision can be made to day which will bring the organization its desire results.
Finally, existing budgetary planning and implementation method in coca-cola bottling company are examined. Bits strength and weakness and suggestion with recommendation are give as to how they could be improved.
STATEMENT OF THE PROBLEM
Lack of proper planning, inadequate budgeting skills and non-judicious follow-up of budget lead to over-spending habit mostly exercised by management. This is the effective or consequence are as follow:
- delay by management in preparing and approving budget
- there exit an opportunity for misappropriation
- actual expenditure cannot be as constrained
- budget and actual expenses and income are bound to produce abnormal various and variance cannot be used effectively in measuring performance.
Moreover, budget planning implementation and execution of management decision of a company often influence by individual personalities and the state of cultural development.
The fashion which budget are used in performance and evaporation tend to influence the behaviors and attitude of the participation as enunciated by I kenis, that is, appointive and consequently, a negative attitude.
A supportive approach will result in positive attitude and with high level of motivation. This is very good food of thought to companies expecting to survive by achieving their objective.
1.3 OBJECTIVES OF THE STUDY
The aim of this study is to conduct on the effectiveness of budgetary control as an effective tool for management planning.
The study also determines the effect of budget planning on coca-cola bottling company. The research embarked upon is hoped to provide a base not only for managers but also for organization as a whole for assessing their performance problem findings, constraint or limitations imposed by using budget planning and executing planned budgets.
The study will further go a long way in improving the attitude and performance of the individuals, employees and employers in achieving the over all organizational budget goals.
The research is also designed to help investors financial institution and government e.t.c in budgeting and planning for assessing their performance.Finally, the research will review necessary literature on budgeting and budgetary control type of budget and some budget terminology.
RESEARCH QUESTION
Is there relationship between budgeting and budgetary control?
What extent can budgeting and budgetary control be used as tools in planning and control in an organization?
What is the problems encountered by organization in uses of budgeting and budgetary system.
HYPOTHESIS FORMULATION
Hypothesis are logical supposition or on educational conjunctive that will aid to solve the problem established earlier in this research.
The hypothesis will be tested to prove major problems which will be represented, by null hypothesis (H0) and the alternative hypothesis (Hi)
An attempt to research into budgeting and budgetary control as an effective tools for planning and controlling and it will generate four set of hypothesis which intend to subject to critical test and analysis by using table / percentage method and chi square distribution.
H0 budgeting and budgetary control are not related and united
Hi : budgeting and budgetary control are related and united
H0 : departmental budget are often seen as non-important
Hi : departmental budget are often seen as important
H0 : budgetary control is not easy to achieve
Hi : budgetary control is easy to achieve
H0 : inefficient planning skills do not hinder budgeting
Hi : inefficient planning skills hinder budget
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