BUDGETING AS A TOOL FOR PLANNING AND CONTROL IN A MANUFACTURING INDUSTRY



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BUDGETING AS A TOOL FOR PLANNING AND CONTROL IN A MANUFACTURING INDUSTRY



ABSTRACT

 

 

 

 This research work was focused on investigation on the use of budgeting as a tool for planning and control in a manufacturing industry .

 

The objective 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:

 

 

1.      Managers use budgeting as a tool for planning and control in attaining the goals of the business.

 

2.      Decision-making is performed in a manufacturing industry using budgeting.

 

3.      Utilization of resource is achieved with the use of budgeting and budgetary control

Following the investigation and analyzation of the data, the following finding were made:

 

1.      The organization uses budgeting in achieving their goals and objectives.

 

2.      The main objective of the organization is maximization of profit.

 

3.      Efficiency and effectiveness of the organizations operation is enhanced through the use of budgeting etc.

From the 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

Citation - Reference

All Project Materials Inc. (2020). BUDGETING AS A TOOL FOR PLANNING AND CONTROL IN A MANUFACTURING INDUSTRY. Available at: https://researchcub.info/department/paper-304.html. [Accessed: ].

BUDGETING AS A TOOL FOR PLANNING AND CONTROL IN A MANUFACTURING INDUSTRY


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The objective 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... Click here for more

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