Budgetary Control as an Effective Management of Organisational Resources.
ABSTRACT
This research work was basically carried out to examine the application of budgetary control as a tool for the effective management of organizational resources.
The research aims at highlighting the benefits of budgetary control and at justifying its application as a tool in the efficient management of organizational resources.
Relevant literatures relating to the subject of study were reviewed and relevant interview questions asked.
The answers to the questions provided the data that enabled the researcher make some discoveries and recommendations to the Management of NITEL in particular and other organizations in general.
It was discovered that the use of budgetary control is very beneficial to NITEL and that the staff are satisfied with the budgetary measures in place.
TABLE OF CONTENTS
Title Page
Declaration
Certification
Dedication
Acknowledgment
Abstract
Table of Content
CHAPTER ONE
- Introduction 1
- Statement of Problem- 2
- Objectives of the study 3
- Statement of Hypothesis 3
- Significance of the study- 3-4
- Scope of the study 4
- Limitation of the study- 4
- Definitions of Terms 5
CHAPTER TWO: REVIEW OF RELATED LITERATURE
- Introduction 6-7
- Definition of Budgetary Control -7-8
- Principle of Budgetary Control 8-9
- Objectives of Budgetary Control 9-10
- Benefit of Budgetary Control 10-12
- Limitations of Budgetary Control 12-13 6
- Behavioral Aspect of Budgetary Control 13-15
- Definitions of Budgeting 15-16
- Uses of Budgets—-16-17
- Benefits of Budgeting 17-20
- Problems Associated With Budgeting——20
- Budgetary Processes 20-21
- Activity Based Budgeting 22
CHAPTER THREE: PROFILE OF THE ORGANIZATION
- Brief History of NITEL LTD 23-25
- Organizational Structure ——26-31 3 V
- arious products & services offered by NITEL LTD—-31-32
- Sources of fund 32
- Budgetary control as practice by NITEL LTD—–32-34
- Advantages 34
- Disadvantages- 35
CHAPTER FOUR: DATA PRESENTATION, ANALYSIS AND INTERPRETATION
- Introduction 36
- Sources of Data 36-37
- Sampling 37
- Method of Data Collection- —37-38
- Justification of the research method used—39
- Data Presentation 39-47
- Data Analysis 48-51
- Data Interpretation 51-53
- Hypotheses Testing—–53-55
- Research Finding 55-56
CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATION
- Summary 57-58
- Conclusion 58-59
- Recommendations 59-61 Bibliography 62 Appendices- 63-65
INTRODUCTION
1.1 Background of the Study
Every organization has limited economic resources at its disposal, as a result of which the numeric demands on them cannot all be met.
There are various reasons, why businesses are set up; some of which may include; maximizing the entrepreneur’s wealth, to make profit and also to remain in business.
In order to achieve the set goal of an organization, it is pertinent that the management of such organization follows some laid down rules and pay surveillance over the operations of the organization.
This is vital in ensuring profit maximization and also ensuring that expenses are well controlled and tailored towards achieving the set goal.
Management must therefore ensure that resources allocated to areas of need are judiciously used to avoid extravagancy, enhance profitability and also enhance efficiency and effectiveness.
A basic tool that can be used by management to ensure efficient and effective use of its disposal is budgetary control.
Budgetary control curbs wastages, unnecessary over expenditure, inefficiency and extravagance and so on, over looking this would give rise to poor performance and an increase in loses.
REFERENCES
Asein, A. A. (200) Budgeting Profit Planning and Control, Process, ICAN News, Vol. 5. No1.
CIMA (1990) Study Pack: Stage 1 Paper 1 Exemption paper London Financial Training Courses.
Fakiyesi, S. F. (2998) Budgeting and Budgetary Control in Public Enterprises ICAN News.
Kulter, Phillph (1991) Marketing Management analysis, Planning, Implementation and Control. Prentice-Hall Intn’l edition.
Lucy, t. (1992) Management Accounting, 3rd edition, London, P. Publications Ltd.
Malomo, M. O (1999) Management Accounting, Lagos, Chinedun Publishers.
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