Budget and budgetary control as a tool for efficient and effective business decision (A case study of Saclux paint Company,umuahia):- Kalu Favour N
ABSTRACT
This study is
on “Budget and budgetary control as a tool for efficient and effective business
decision”. The study became necessary as a result ofseveral problems faced by
business organizations resulting from poor planning based on these problems,
the data so collected were analyzed using then descriptive statistic involving
the use offrequencies and percentages. The test ofhypothesis was carried out
using the t-test statistic of Pearson product moment correlation co-efficient
method of testing hypothesis. Findings reveal that budgeting in business
organization can help co ordinate operations, optimize the utilization of
resources. It v/as revealed that budget and budgetary control could help in
appraising and controlling performance. Useful recommendations have been made
based on the findings which if practicalised will be of great benefit to
business enterprises. The following recommendations are made by the researcher;
Business firms should as a matter of necessity prepare periodic budget to guide
their operations. Management should educate departmental heads on the budget
and budgetary control systems of the corporation. This would enable them to
understand the importance of budgeting and minimize cost. Adherence to
budgetary provisions should be practiced by top management. This is because if
arbitrary actions are taken by them, the realization of the budget would be
impossible.
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KALU, A (2024). Budget and budgetary control as a tool for efficient and effective business decision (A case study of Saclux paint Company,umuahia):- Kalu Favour N. Repository.mouau.edu.ng: Retrieved Nov 23, 2024, from https://repository.mouau.edu.ng/work/view/budget-and-budgetary-control-as-a-tool-for-efficient-and-effective-business-decision-a-case-study-of-saclux-paint-companyumuahia-kalu-favour-n-7-2
A., KALU. "Budget and budgetary control as a tool for efficient and effective business decision (A case study of Saclux paint Company,umuahia):- Kalu Favour N" Repository.mouau.edu.ng. Repository.mouau.edu.ng, 05 Jul. 2024, https://repository.mouau.edu.ng/work/view/budget-and-budgetary-control-as-a-tool-for-efficient-and-effective-business-decision-a-case-study-of-saclux-paint-companyumuahia-kalu-favour-n-7-2. Accessed 23 Nov. 2024.
A., KALU. "Budget and budgetary control as a tool for efficient and effective business decision (A case study of Saclux paint Company,umuahia):- Kalu Favour N". Repository.mouau.edu.ng, Repository.mouau.edu.ng, 05 Jul. 2024. Web. 23 Nov. 2024. < https://repository.mouau.edu.ng/work/view/budget-and-budgetary-control-as-a-tool-for-efficient-and-effective-business-decision-a-case-study-of-saclux-paint-companyumuahia-kalu-favour-n-7-2 >.
A., KALU. "Budget and budgetary control as a tool for efficient and effective business decision (A case study of Saclux paint Company,umuahia):- Kalu Favour N" Repository.mouau.edu.ng (2024). Accessed 23 Nov. 2024. https://repository.mouau.edu.ng/work/view/budget-and-budgetary-control-as-a-tool-for-efficient-and-effective-business-decision-a-case-study-of-saclux-paint-companyumuahia-kalu-favour-n-7-2