BUDGETING AND BUDGETARY CONTROL IN A BUSINESS ORGANIZATION (A CASE STUDY OF AFRI BANKK NIGERIA PLC. ILORIN
TABLES OF CONTENT
Background of the study
Statement of the problem
Aims and objective of the study
Significant of the study
Scope of the study
Limitation of the study
Definition of terms and concepts
development of budgeting
2.3 Meaning of
budget, budgeting and budgetary control
2.4 Usefulness of
budgeting in business organization
2.5 Types of budget
2.6 Preparation and
administration of budget
2.7 Budgeting and
administration of budget
principles of budget
2.9 Budgetary improvement techniques
2.10 Budget implementation and control
of the study population
3.3 Sampling method
3.5 Method of data
PRESENTATION INTERPRETATION AND ANALYSIS
Presentation of data
Analysis of data
SUMMARY, CONCLUSION AND RECOMMENDATION
BACKGROUND OF THE
The fundamental question which should be asked about any
enterprises is “How well is it doing?” ad his can be rightly answered accessing
the extent to which the objectives of the enterprises are achieved.
The major objectives of the enterprises are achieved, base
on profit maximization and improved future profit tend to enhance growth and
survival. The increasing complexity of the
business and ever changing condition of the business environment, social
environment technological and political
changes have made companies investors and management to realize the need for
new techniques to protect and improve performance.
To achieve the Afro- mentioned objects it becomes imperative
for management of business organization to develop ways of attaining them.
The available instrument at Management’s disposal is the
adoption of adequate planning and control. one of the basic device
used in planning and controlling the activities of business
enterprise is by means of financial
standard and management of
budgeting and budgetary control.
To many the terms can not retraining influence on action
service the needs or opportunity which the enterprise would like to service budgeting remains the
most tactical budget is essentially on agenda setting. It is carefully
designed, packaged and aimed at achieving the goals and objective of business organization or individual with the limited resources at
According to fubara( 1988) in his book “ business
management principle and strategies.
He further and described budgeting is a means of utilizing
collective knowledge of an enterprise to prepare a co-ordinate
plan for future activities.
Budgeting control is a techniques that emphasizes control of
plan by companing actual result against target to identify variance upon which
corrective measure should be taken to improve the performance of the
The primary function of business organization is production
of goods and services and make it available
for the consumers when ever is needed. All these functions are performed
in order to achieve the organizations goals which is profit maximization.
Performances are evaluated based on the actual result. To achieve the
organizational objectives there is need for adequate planning and control,
efficient budgeting and effective budgetary control system in business
STATEMENT OF THE PROBLEM
Budgeting and budgetary control is very important in business
organizational due to its function
in relation to planning , organize
coordinating and controlling functions of management forwards.
Successful realization of the organizational objective.
Performance evaluation in business organization is usually base on effective
decision making and efficient resources
allocation. These have been affected due to the incorporate of budget and budgetary control.
This improper budgetary control responsible for poor
performance of some business organization most business organization do prepare
budget. Yet there are deviation from such budgets and they fail to
investigate the causes deviation and
thus take appropriate corrective measures to prevent re-occurrence most business organization sues budgeting as
just useful for planning purpose but refuse
to take cognizance of its benefits whom to revise budgets to make it reflect prevailing situation or whom to hold
responsible for budget vacancies.
AIMS AND OBJECTIVE OF
The main aim of this research work is to examine budgeting
and budgetary control in business organization in order to see the extent to
which it’s to be applied in management planning and control.
These are some of the aims of the research work.
To examine the procedure for drawing up budget in business
organization and to know how budget are being approved implanted, improved and
To know who there budgeting and budgetary controls assist
the managements of business organization effective decision making and
efficient resources allocation.
To know whether the use of budgeting and budgetary control
is indispensable to achieve organizational goals and objective.
To evaluate performance by comparing budgetary with actual
result of the business stand
To know whether budgeting and budgetary control serves as a
communication tools between the top management and the low staff.
To provide a useful l recommendation on the application of budgeting and budgetary
control as means of improving business performance.
1.4 SIGNIFICANCE OF
Several research work have been carried out on budget and
budgetary control in various business organization like manufacturing , pharmaceutical and oil industries.
This research work can be said to be a fair work on the
topic. This research will share more light on the efficient resources and
effective decision making in business organization.
This research work can be said to be a fair work on the topic. This research will share
more light on the efficient resources
and effective decision – making in business organization.
It will also help the student to know how relevance
budgeting and budgetary control is to an individual and business organization.