IMPACT OF BUDGETING, PLANNING AND CONTROL ON THE PROFITABILITY OF A MANUFACTURING COMPANY

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ABSTRACT

This study examined the impact of budgeting planning and control on productivity in NOCACO. The objective of this study is to bring light to the need for effective and efficient budget plans and control, and to find out how and to which the extent budgeting serve as a means of planning and control to increase productivity. The methods used for the study is survey method, method of data collection is questionnaire and personal interview and the method of data analysis is likert scale is used based on mean statistic. The findings based on the data presented and analyzed, the researcher was able to identify that budgeting planning and control techniques are used for increase productivity in the dynamic profit and non profit making organization which is the study of this research work and its also observed that good budgeting system will help any organization to increase its productivity level. The researcher concludes that productivity must be planned before it can be controlled. Operation has been determined and analyze into expenditure cost so as to know how realistic would be contribution to project goals to make budget without planning. Lastly, the researcher recommended that the company should employ competent and intelligent staff which a lot of experience to facilitate the planning which go a long way in controlling productivity in the organization.

 


TABLE OF CONTENTS

Title page                                                                                                 i

Declaration                                                                                              ii

Approval Page                                                                                         iii

Dedication                                                                                                          iv

Acknowledgment                                                                                     v

Abstract                                                                                                    vi

Table of Contents                                                                                    vii

CHAPTER ONE: INTRODUCTION

1.1       Background of the Study                                                              1

1.2       Statement of the Problem                                                            3

1.3       Objective of the Study                                                                            4

1.4       Significance of the Study                                                              5

1.5       Research Questions                                                                      5

1.6       Scope of the Study                                                                         6

1.7       Limitation of the Study                                                               

1.8       Definition of Terms                                                                       6

 

CHAPTER TWO: LITERATURE REVIEW

2.0    Introduction                                                                                   9

2.1    Objectives of Budgeting                                                                10

2.2    Requirements of a Good Budgeting System                              12

2.3    Stages in Budget Preparation                                                     18

2.4    Flexible Budgeting                                                                        20

2.5    Zero Base Budgeting (ZBB)                                                                   21

2.6    Planning Programming Budgeting System (PPBS)                 24

2.7    Summary of the Literature Review                                            27

CHAPTER THREE: METHODOLOGY

3.1    Introduction                                                                                   28

3.2    Research Design                                                                            28

3.3    Area of Study                                                                                 29

3.4    Population of the Study                                                                29

3.5    Sample Size and Sampling Technique                                                29

3.6    Instrument of Data Collection                                                    30

3.7    Validation of the Instrument                                                      30

3.8    Reliability of Instrument                                                             31

3.9    Method of Data Collection                                                           31

3.10  Method of Data Analysis                                                              32

 

CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS

4.1    Introduction                                                                                   34

4.2    Characteristics of Respondents                                                   34

4.3    Data Analysis                                                                                36

4.4    Summary of Findings                                                                             44

4.5    Discussion of Findings                                                                 45

CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS

5.0    Introduction                                                                                   47

5.1    Summary                                                                                        47

5.2    Conclusion                                                                                               49

5.3    Recommendations                                                                         50

References                                                                                                53

Appendix                                                                                         54


CHAPTER ONE

INTRODUCTION

1.1       Background of the Study

For any organization to operate meaningfully there has to be clear direction of where it is leading to or what it is aiming to achieve the standard of objectives and a means of monitoring derivatives from standard requires. These considerations can only be met through budgeting, planning as well as controlling.

A budget has been defined as a quantitative plan usually in monetary terms for the forth coming accounting year of the ensuring period. Budgeting planning/short term planning is the process of preparing detailed, short term (usually 1 year) plans for the function, activities and departments of the organization thus converting the long term co-operate plan into yearly action. Budgeting services as a very important tool for planning and control increase in productivity, in that budgeting aids planning for the future, if services as a control function through management by exception which is the assessment of performance for the purpose of controlling. It helps in co-coordinating of the work management in order to coordinate the activities of the organization.


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