ABSTRACT
The study examined the benefit of budgeting as a
managerial tool in an organization, which
focus on Nigeria Bottling Company Plc. The survey method was extensively
used together data for the study and a simple through questionnaire and oral
interview and discussion conduct with some of the study participants. The study
establish the benefit of budgeting as a management tool in an organization so
that it can contributes to the realization of organization goal and objectives.
They should conclude with useful recommendations that can help the Nigeria
Bottling Company Plc to improve in their budgeting in an organization.
TABLE OF CONTENT
Title pages i
Certification ii
Dedication iii
Acknowledgement iv
Abstract v
Table of content vi
CHAPTER ONE:
INTRODUCTION
1.1
Background
to the study 1
1.2
Statement
of the study 1
1.3
Objectives
of the study 2
1.4
Statement
of the Hypothesis 2
1.5
Scope
of the study 3
1.6
Significance
of the study 3
1.7
Limitation
of the study 4
1.8
Definition
of Terms
CHAPTER TWO: LITERATURE
REVIEW
2.1 Meaning of
Budgeting 6
2.2 Needs for
Budgeting 7
2.3 Types of
Budgeting 10
2.4 Budgeting
as a Management Tool 10
2.5 Merit of
Budgeting 11
2.6 Problems
of Budgeting 12
2.7 Suggesting
Solution to Problem of Budgeting 13
CHAPTER THREE: RESEARCH METHOD
3.1 Research
Design 14
3.2 Population
of the Study 14
3.3 Sample and
Sampling Techniques 14
3.3 Instrumental/Materials
15
3.5 Method of
Data Collection 16
3.6 Method of
Data Analysis 18
CHAPTER FOUR: DATA PRESENTATION
ANALYSIS AND DISCUSSION
4.1 Presentation
of Data 19
4.2 Analysis
of Data 28
4.3 Hypothesis
of Testing 31
4.4 Discussions
of Findings 32
CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATION
5.1 Summary 35
5.2 Conclusion
35
5.3 Recommendations 36
Reference
38
CHAPTER ONE:
1.1
BACKGROUND TO THE STUDY
In Nigeria today, there is rapid
growth experience in the area of industrialization. A lot of business has
failed to recognize that budgeting as a management tool is effective enough to
reposition the organization among their competitors.
In the
opinion of many authors budgeting is a check necessary in an organization, the
planning policy put in place will be defective.
The aim
of managers is to effectively put up a budgeting policy as a means of making
practical’s budgets in the organization. This is what has prompted this study,
benefit of budgeting as a management tool in an organization.
1.2 STATEMENT OF THE
PROBLEM
The
aim of this research is to find solution to the following research problems.
1.
To
examine the effect of budgeting policies as a tool in production level of the
organization performance.
2.
To
examine we their budgeting policies can cease
a positive impact in production level
of the organization.
3.
To
examine if management monitor her budget
to the point of implementation.
1.3 OBJECTIVES OF THE STUDY
This
study aims to achieve the following objectives to see the extent to which
organization budget before embarking on their operations.
To assist
management in budgeting planning to effect a change bring that in the
organization
To look at
the problem that is associated with budget implantation mutation in the
organization.
1.4 STATEMENT OF THE HYPOTHESIS
For the
purpose of the study, the following hypotheses which are in their null form
shall be tested.
1.
Budgeting
is not a management tool in an organization.
2.
Budgeting
implementation would not enhance productivity.
3.
Budgeting
cannot enhance organization performance in actualizing co-operation goals.
1.5 SCOPE OF THE STUDY
This study is looking at budgeting
generally, using the Nigeria bottling company Benin City, Edo State as a case
study.
It will enable us look at benefit of budgeting as a
management tool in an organization.
1.6 SIGNIFICANCE OF THE STUDY
It is
important to know that the pursuit of this project will enable the management
of an organization to know that budgets are useful and form an important part
of planning and control process budgets also indicates the expenditure ,
revenue and profit planned for a given future time span. They are usually in
monetary terms, providing a common ground for a variety of organization
activities management can use budget to provide a major means for control and
co-operation. It also helps to detect deviation easily.
1.7 LIMITATION
OF STUDY
A number
of factor imitated against this study, the first problem encountered by the
research in the course of the study was the unfriendly altitude of the
respondents, most of them were not really interest in the quest and
deliberately refused to answer the question put forward.
Closely related to this problem is
that some of the respondent s did not return the questionnaire administered to
them.
1.8 DEFINITION OF TERMS
For easy
in standing and use the following function had been defined as use. According
to Adeniyi (2004)
1.
CIRCULAR: It is a noticed issue from the
finance department to inform other department in preparing their budget
estimates.
2.
BUDGET CENTRE: This is a unit inside the finance
department which carry on involve all budget estimate from other department.
3.
THE BUDGET HOLDER: This is the head of department in
change of budget preparation.
4.
BUDGET DURATION: According to Adeniyi (2004) this is
the period in which the budget would be prepared and it should not be a tempt
period.
5.
BUDGET MANUAL: This is an information manual about
the way budget operation in a particular organization one been prepared and the
reason for budgeting.
6.
THE BUDGET TIME TABLE: According to Adeniyi (2004) is a
time of planning activities of a specifics time schedule established for
initiating and completing certain phases for the budget planning process.
7.
BUDGET COMMITTEES: It is a committee given a
responsible for the task of developing a co-coordinating budget.
8.
BUDGETING: This is the underlying activities
tasks that must generally be carried out to attain maximum usefulness of a
budget plan.
9.
BUDGET PREPARATION: This is the preparation of all
various sub-budgets that made up the master budget in the organization e.g.
sales budget and sales forecasts etc.
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