DESIGN AND IMPLEMENTATION OF A COMPUTERIZED BUDGETING SYSTEM (A CASE STUDY OF I.M.T., ENUGU)

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CHAPTER ONE

INTRODUCTION

1.1     Background of the Study

Many years back, individuals, government and even companies have tried to regulate income and expenditure, but this was not as possible as expected due to certain problem and constraints.

Better suggestions result to these approaches since most of the available resources at that time were not judiciously used. As a result of one problem or the other such as: Non-actualization of some basic needs of the masses, increase in population of the country. Delay and inaccuracy of job done. Payment of uncompleted projects.  It is considered expedient to have a balanced and reliable budget which mainly implies the manual estimate of revenue and expenditure which could be applied to individuals, organization and government. They begin to make budgets of their day-to-day expenditure and revenue.

Notwithstanding, the careful planning and execution of budgets in Nigeria, the targets are hardly met while most budgets end up in difficult.

Based on this, the researcher deemed necessary to look into budgeting system in institutions with special emphasis on tertiary institutions. Institute of management and technology (IMT) Enugu being a tertiary institution, is required to have a planned budget to enhance an objective oriented operation.

1.2     Statement of the Problems

Government, companies, institution and individuals have in the past set up a wonderful budget on daily bases, most of these budgets worked only for a while and crushed.

IMT has been spending so much time on the planning of these budgets even to the extent of setting up a budgets monitoring committee to ensure strict adherence to requirement of these budgets. Notwithstanding, the fact still remains that budgets in this country especially institution budget have never produced desired goal. This work therefore tends to find out why institution budget fails to achieve its goal by tactfully studying the budgeting system of institution of management and technology (IMT) Enugu and formulating a good reliable computer system that will take care of these problems.
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DESIGN AND IMPLEMENTATION OF A COMPUTERIZED BUDGETING SYSTEM (A CASE STUDY OF I.M.T., ENUGU)