DO YOU NEED HELP? CALL - 08060082010

Download full Chapter 1-5 Project material For Final Year student in Accounting department titled ” Budgeting and Budgetary Control In A Business Organization. View chapter one below.

 3,000

wws Maya / Pre-sale Questions Need Help? Contact Us via WhatsApp

Accounting Department  Research project Topic Chapter 1-5 titled – Budgeting and Budgetary Control In A Business Organization

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

A budget is a financial and quantitative statement prepared prior to a defined period of time of the policy to be pursued for the purpose of attaining a given objective.

Also according to A.U.Nweze (2004) in his profit planning.Budget is a plan quantified in monetary terms, prepared and approved prior to a defined period of time, usually showing planned income to be generated and or expenditure to be incurred during that period and the capital to be employed to attain a given objective.

Furthermore a budget is an attempt made at the beginning of each financial year to plan the profit and loss account for the year and to aim for a definite balance sheet. This profit planning must be a well thought out operational plan with its financial implication expressed as both long and short range profit plans.

In any organization where budget is used as a means of profit planning many alternative plans have to be considered and the most profitable one will be adopted, because where the plan chosen in great expectations, then the best use has been made of the available resources.

On the other hand budgetary control is the establishment of policies and the periodic review or comparison of the actual result with the budgeted performances either to secure approval for individual action or to serve as a remedial course of action. Budgetary control whereby actual state of affairs can be compared with that planned for by the management, so that appropriate action may be taken to correct adverse situation that may occur before it is too late. It is also used to fix responsibility.

A budget systems serve the needs of management in respect of the judgments and decisions it is fruited to make and to provide a basis for the management functions of planning and control. Developing a budget is a critical step in planning any economic activity. This includes business, governmental agencies and individuals.

Therefore businesses of all types and governmental unit at every level must make financial plans to carry out routine operations, to plan for major expenditures and to help in making financial decisions.

On this background, every organization no matter nature has a plan for the future, simply because the success of any organization depends on the level of plan that is put into the organization.

PAYMENTS

CLICK BLUE LINK TO SEARCH FOR MORE ACCOUNTING PROJECT TOPICS AND MATERIALS CHAPTER1-5

GET THE COMPLETE PROJECT»

Do you need help? Talk to us right now: (+234) 08060082010, 08107932631 (Call/WhatsApp). Email: edustoreng@gmail.com.

IF YOU CAN'T FIND YOUR TOPIC, CLICK HERE TO HIRE A WRITER»

Disclaimer: This PDF Material Content is Developed by the copyright owner to Serve as a RESEARCH GUIDE for Students to Conduct Academic Research.

You are allowed to use the original PDF Research Material Guide you will receive in the following ways:

1. As a source for additional understanding of the project topic.

2. As a source for ideas for you own academic research work (if properly referenced).

3. For PROPER paraphrasing ( see your school definition of plagiarism and acceptable paraphrase).

4. Direct citing ( if referenced properly).

Thank you so much for your respect for the authors copyright.

Do you need help? Talk to us right now: (+234) 08060082010, 08107932631 (Call/WhatsApp). Email: edustoreng@gmail.com.