BUDGETING AS A TOOL FOR PLANNING AND CONTROL IN A MANUFACTURING INDUSTRY (A CASE STUDY OF NIGERIAN BREWERIES PLC ENUGU)
This research work was focused on
investigation on the use of budgeting as a tool for planning and control in a
manufacturing industry .
of the study is to show the important of budgeting as a tool for planning and
control in operation of a manufacture industry which has profit maximization as
its principal objective. The research also aims at identifying the procedures
adopted in the formulation of annual budgets in a manufacturing industry.
Based on this, the following hypothesis was
formulated for the study. The hypothesis include:
Managers use budgeting as a
tool for planning and control in attaining the goals of the business.
Decision-making is performed
in a manufacturing industry using budgeting.
Utilization of resource is
achieved with the use of budgeting and budgetary control
investigation and analyzation of the data, the following finding were made:
The organization uses
budgeting in achieving their goals and objectives.
The main objective of the
organization is maximization of profit.
Efficiency and effectiveness
of the organizations operation is enhanced through the use of budgeting etc.
finding, the conclusion were arrived that budgeting is a very essential and
indispensable tool for planning and control. It helps management to be well structure in sustaining the growth and
expansion of the organization
TABLE OF CONTENTS
of the problem
Purpose Of The Study
and limitation of the study
of the study
REVIEW OF RELATED LITERATION
2.1 Definition of budget
2.2 Features and functions of budget
2.3 Preparation of budget
2.4 Type and methods of budget
2.5 problems associated with budget
2.6 planning function in an organization
2.7controlling function in an organization
2.8 Budgetary control and analysis of variance
3.1 research design
3.2 Source of data
3.3 sampling and sample size
3.4 method of data analysis
3.5 problem of data collection.
PRESENTATION, ANALYSIS AND INTERPRESENTATION OF DATA
4.1 Analysis of data
4.2 Hypothesis testing
SUMMARY OF FINDINGS, CONCLUSING AND RECOMMENDATION.
5.1 Summary of findings
organizations need planning to achieve their aims and objective. It thorough
planning in an organization cannot be done without involving the act of
budgeting. The management has the purpose of providing a feed – foreword
The concept of feed-forward =process in to provide
each manager with guideline for making operation decision on a day –to- day
basic. Budgeting deals with plans and monitoring activities to ascertain
whether they conform to the plans. This is the control and coordination aspect
Manufacturing industries can only achieve profit maximization by proper
planned use of available resource. This is sustained when different activities
are efficiently coordinated, and decisions taken in the organization are result
oriented. Business organization requires the use of some techniques in the
formula and adoption of planned and defined system and tools with a view to
achiever set goals. Such tools and systems include budgetary variance analysis
and budgetary control. The process of setting goals to be achieve in the future
time and determining how these goals are to be reached is described as PLANING,
while the process of translating this planning into financial target can be
described as BUDGETING.