BALANCING AND BUDGETING CONTROL IN A MANUFACTURING

BALANCING AND BUDGETING CONTROL IN A MANUFACTURING AND MARKETING ORGANIZATION (A CASE OF STUDY OF TOTAL NIGERIA LTD)

TABLE OF CONTENTS

CHAPTER ONE:

INTRODUCTION

1.1 Background of the Study: – – – – – 1

1.2 Statement of the Problem: – – – – – 2

1.3 Objectives of the Study: – – – – – 4

1.4 Significance of the Study: – – – – – 5

1.5 Formulation of Hypothesis: – – – – 7

1.6 Scope of the Study: – – – – – – 8

1.7 Limitations of the Study: – – – – – 8

1.8 Definition of Terms: – – – – – – 10

CHAPTER TWO:

2.1 Literature Review: – – – – – – 11

2.2 The Concept of Budgeting and Budgetary Control: 12

2.3 Main Types of Budget: – – – – – 17

2.3.1 Other Types of Budget: – – – – – 18

2.4 The Budget Period: – – – – – – 30

2.4.1 The Budget Committee: – – – – – 31

2.4.2 The Budget Manual: – – – – – – 32

2.5 Stages in the Budgeting Process: – – – 32

2.6 Zero Base Budgeting (ZBB): – – – – 38

2.6.1 Administration of Budget: – – – – – 41

2.6.2 Human Factors in Budgeting: – – – – 42

2.6.3 The Principal Budget Factors/Forecasting: – 44

2.6.4 Budget Education: – – – – – – 45

2.6.5 Budgeting in the purchasing Department of

Small and Large Companies: – – – – 46

2.6.6 Relationship Between Budgetary Control and

Standard Costing: – – – – – – 48

2.6.7 Participative Budget and Imposed Budget: – 49

2.6.8 Principal Budget/Forecasting: – – – – 51

CHAPTER TREE:

RESEARCH DESIGN AND METHODOLOGY

3.1 Research Design: – – – – – – 54

3.2 Source of Data: – – – – – – – 56

3.3 Population Size: – – – – – – 57

3.4 Sample Size and Sample Techniques: – – 58

3.5 Research Instrument: – – – – – 61

3.6 Methods of Data Analysis: – – – – – 61

CHAPTER FOUR: PRESENTATION AND ANALYSIS OF DATA

4.1 Data Analysis (Questionnaires): – – – 63

4.2 Test of Hypothesis: – – – – – – 68

CHAPTER FIVE:

SUMMARY, CONCLUSION AND RECOMMENDATION

5.1 Summary of Findings: – – – – – 77

5.2 Conclusion: – – – – – – – 77

5.3 Recommendation: – – – – – – 78

Bibliography: – – – – – – – 80

Appendix: – – – – – – – – 81

Questionnaire: – – – – – – – 83

CHAPTER ONE

INTRODUCTION

BACK GROUND OF THE STUDY

A budget is a financial and a 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.

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