Download complete project material on Budgetary Control As A Tool Of Management And Decision Making from chapter one to five
ABSTRACT
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Chapter one of this project work consist of introductory part of the study, the statement of problem, objectives of the study, research hypothesis, significance of the study, scope of the study, historical background of the case study, definition of terms.
The next chapter focuses on the theoretical view Budgeting and budgetary controls, types of budgets, preparation and operation in manufacturing industries. Decision making process and developing after based on available resources.
Chapter three discuses on research methodology, population and sampling size, sampling techniques, methods for data analysis, justification for the choice. Chapter four outline preparation, date presentation and analysis and interpretations, testing of hypothesis questions and interpretation. Chapter five contains the summary, conclusion and recommendation. Also the references and bibliography.
TABLE OF CONTENT
Contents pages
Title page
Declaration
Approval page
Acknowledgement
Abstract
Table of contents
Chapter One
1.0 Introduction
1.1 Background of the study
1.2 Statement of the problem
1.3 Objective of the study
1.4 Research hypothesis
1.5 significance of the study
1.6 Scope of the study
1.7 Historical background of the case study
1.8 Definition of terms
Chapter Two
2.0 literature review
2.1 Relevant concepts and theories
2.2 Sub-head
Chapter three
3.0 Research methodology
3.1 Introduction
3.2 population and sampling size
3.3 Sampling techniques
3.4 Sources and method of data collection
3.5 Methods for data analysis
3.6 Justification for the choice
Chapter four
4.0 Data presentation and analysis and interpretations
4.1 Introduction
4.2 Testing of hypothesis questions and interpretation
4.3 Summary of findings
Chapter five
5.0 Summary, conclusion and recommendations
5.1 Summary
5.2 Conclusion
5.3 Recommendations
Reference/Bibliography
Appendix/Appendices
CHAPTER ONE
INTRODUCTION
Every organization, be it private or public liability company needs an adequate budgetary control system to yield and to obey the principle of accounting know as “going concern process”.
Budget, means expenditure and revenue for a specific period document, a budget enable business organization, governments, private organizations and household to set privies and monitor progress toward selected goals.
To achieve budgetary objectives it may be necessary to set aside savings (surpluses) or to borrow from outside sources (deficits). The personal or family or organizations like the “Nigeria Breweries Plc” budget is a financial plan that helps individual to balance income and expenses.
A business budget is generally used as a tool to formulate intelligent decisions on the complicated budgetary process. This involves the government budget which is of plan for the collection and expenditure of monies needed to carry out the social-military and economic policies of in administration.
The need for control system and performance his become more critical and major determinants of the organizational fortune. The need for budgetary control system and performance has become even more critical in every recent year and as a result of a several national economic recession working capital have caused excessive budget restriction even for the most vital production of making operation of many manufacturing and services organization.
Budgetary control of the functional organization my business Enterprises depends on certain essential element such as:
1. A planned or predetermined activity measure against which actual achievement measure can be compared.
2. A decision making capitality that exist within the organization elements unit to take action that will bring achievement level in the planned level.
3. A structural organization element to which the activity is assigned.
4. There must be on information system that records the process of an activity to group of activities for a spelt length of time, moreso that information system will need to include a description of activity steps of phases and a quantitative or level of activity.
5. The feed back should and ought be portray a true conformity of predetermined designed plan know as the budget”.
Conclusively, an important contribution from a function named Henri Fayol: he produced a set of principle of management practice including the planning and organization. The control and the establishment of work standard against which efficiency of worker performing can be measured which in Fayol scheme.
The works of administrator involved. Planned, organizing, controlling, coordinating so far these reasons however organization cannot do without planning and controlling which is the backbone of success of the organization as well budgets and budgetary control forms a major aspect of short term planning decisions in every organization.
BACKGROUND OF THE STUDY
Budgetary control is mainly concerned with the process by which financial control is exercised within Nigeria Breweries Plc Kaduna plant using budget for income and expenditure for each function of the Nigeria Breweries Plc in advance of an accounting period. These budgets are compared with actual performance to establish any variance.
Individual function managers are managers responsible for the controllable activities within their budgets and are expected to take remedial action if the adverse. This is done through a section or area of an organization under the responsibility of a manager for which budget are prepared and the section is called budget centre.
STATEMENT OF THE PROBLEM
Different problems can be identified with different organization. The statement of the problem critically examines the budgetary process and the general problem of the budgetary control on the overall performance of modern business organization with emphasis on Nigeria Breweries and suggest possible solution:
To identify the problem being encountered in the application of those controls:
1. To identify the different types of budget and controls being applied and the importance
2. To ascertain the degree to which corrective actions are taken against adverse variance
3. To identify the impact of the human resources in budgeting process
4. To analyze decision making as a national process with special attention to evaluating alternatives in the light of goals sought.
OBJECTIVES OF THE STUDY
The objective of this study is to find out possible solution, answer or way out of the statement of the problems such as the following:
1. To examine the effect on proper usage of resources of an organization
2. To prevent the organization for material misstatement.
3. To check the internal control system of Nigeria Breweries Plc Kaduna
4. ascertain the pre-determined sale and profit through sales budget
5. To determine achievement of the organizational goal
6. To evaluating of minimizing cost and expenses incurred in production
7. The application of budgetary control to estimate and evaluate cost of it products which ultimately assists it in pricing the product in a depressed economy like Nigeria.
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