THE IMPACT OF BUDGETING AND BUDGETARY CONTROL IN A PUBLIC LIMITED LIABILITY COMPANY (A CASE STUDY OF JOF AND ROYAL NIGERIA LIMITED)

THE IMPACT OF BUDGETING AND BUDGETARY CONTROL IN A PUBLIC LIMITED LIABILITY COMPANY

(A CASE STUDY OF JOF AND ROYAL NIGERIA LIMITED)

---

NUMBERS PAGES :-45         RESEARCH TYPE:- PROJECT         AMOUNT :- ₦2500

---

Abstract

        This research work is designed to highlight the impact of budgeting and budgetary control on public limited liability company with Jof and Royal Nigeria limited. Every organization bring exceedingly well on the face of the earth rely heavenly on budgets, and budgetary control measures to improve performance, through adequate resource allocation. Budget and budgetary control, both of management and operational level looks of the future and lays down what has to be achieved.         Control checks whether or not the plans are realized, and puts into effect corrective measures where deviation or shortfall is occurring. Budgeting is an important tool for financial planning which concerns, raw materials casting manpower planning how much to be spent on staff salary. For this form to make meaningful head way, there is need for proper planning of human and material resources of the firm for maximum profit and productivity.

TABLE OF CONTENTS

Title page …………………………………………………………………………i

Approval page…………………………………………………………….…….ii

Dedication ……………………………………………………………………..iii

Acknowledgement……………………………………………………………..iv

Abstract………………………………………………………………………….vi

Table of contents……………………………………………………………..vii

CHAPTER ONE………………………………………………………………….. 1

INTRODUCTION………………………………………………………………. 1

1.1  BACKGROUND OF THE STUDY…………………………………… 1

1.2  STATEMENT OF THE PROBLEM…………………………………. 2

1.3  PURPOSE OF THE STUDY………………………………………….. 2

1.4  SIGNIFICANCE OF THE STUDY…………………………………… 3

1.5  RESEARCH QUESTIONS……………………………………………. 3

1.6  RESEARCH HYPOTHESIS………………………………………….. 3

1.7  SCOPE OF THE STUDY……………………………………………… 4

1.8  LIMITATION OF THE STUDY……………………………………….. 4

1.9  DEFINITION OF TERMS……………………………………………… 4

CHAPTER TWO………………………………………………………………….. 6

LITERATURE REVIEW……………………………………………………… 6

2.1  DEFINITION OF BUDGET AND BUDGETARY CONTROL….. 6

2.2  TYPE OF BUDGET…………………………………………………….. 7

   2.3          TYPES OF FUNCTIONAL BUDGET………………………………14

   2.4          PROCEDURES FOR SETTING UP A BUDGET………………..17

2.5  THE BUDGETARY COMMITTEE………………………………… 15

2.6  FORECASTING AND BUDGETING……………………………… 16

2.7  BUDGET VARIANCES………………………………………………. 17

2.8  IMPLICATION OF COST VARIANCE…………………………….. 18

2.9     PROBLEMS OF BUDGET PREPARATION AND IMPLEMENTATION.          19

2.10   WAYS OF IMPROVING BUDGET PERFORMANCE IN AN ORGANIZATION……………………………………………………………… 20

CHAPTER THREE…………………………………………………………….. 21

METHODOLOGY……………………………………………………………. 21

3.1  RESEARCH DESIGN………………………………………………… 21

3.2  AREA OF THE STUDY………………………………………………. 21

3.3  POPULATION OF THE STUDY……………………………………. 22

3.4  SAMPLE OF THE STUDY………………………………………….. 22

3.5  METHOD OF DATA COLLECTION………………………………. 22

3.6  ADMINISTRATION AND RETRIEVAL OF INSTRUMENT….. 22

3.7  PROBLEM OF METHODOLOGY…………………………………. 22

3.8  METHOD OF DATA ANALYSES………………………………….. 23

QUESTIONNAIRE…………………………………………………………… 24

CHAPTER FOUR………………………………………………………………. 26

DATA PRESENTATION AND ANALYSIS……………………………… 26

DATA PRESENTATION……………………………………………………. 26

4.1.1 DATA ANALYSIS………………………………………………….. 26

4.2  TEST OF HYPOTHESIS…………………………………………….. 32

CHAPTER FIVE………………………………………………………………… 35

SUMMARY, CONCLUSION AND RECOMMENDATION………….. 35

5.1 SUMMARY………………………………………………………………. 35

5.2 RECOMMENDATION……………………………………………….. 35

5.3 CONCLUSION…………………………………………………………… 36

BIBLIOGRAPHY……………………………………………………………… 37

APPENDIX…………………………………………………………………….. 37