1.1 BACKGROUND OF THE STUDY
Business organizations need planning to achieve their aims and objective.
It thorough planning in an organization cannot be done without involving the act of budgeting. The management has the purpose of providing feed-forwarding process.
The concepts of feed-forward process into provide each manager with guidelines for making operation decision on a day-to-day basic.
Budgeting deals with plants and monitoring activities to ascertain whether they confirm to the plan.
This is the control and coordination aspect of budgeting.
Manufacturing industries can only achieve profit maximization by proper planned use of available resource.
This is sustained when different activities are efficiently coordinated and decisions taken in the organization are result oriented.
Business organization requires the use of some techniques in the formula and adoption of planned and defined system and tools with a view to achieve set goals. Such tools and system include budgeting variance analysis and budgetary control. The process of setting goals to be achieved in the future time and determining this planning into financial target can be described as Budgeting.
Reg, H. Garrison, in his opinion, defined budget, thus, a budget is a detailed plan showing how resources will be required and used over some specific time interval. It repented a plan for the future expressed in a formal qualitative terms. The out of preparing a budgeting control,
This project is organized in five chapters, which aimed at finding out the budget process used achieving the goals of a typical. Manufacturing, industry with profit maximized as its main objectives with centre focuses in Nigerian Breweries Plc, Enugu
Chapter one is an introduction to the study concerning such issues as:
Chapter two present the literature review which such issues as:
Chapter three presents the research design methodology
The source of data collected for analysis and treatment of some of the problem encounter during data collected were examined and analysis in details to enable us draw conclusion there by making recommendation.
This management has his primary duty of achieving the objective of profit maximization of the company through budgeting due to the state of our economy and government policies this goal is much hindered during the period of economic depression which features low capacity utilization, high interest rate shortage of foreign exchange to buy the needed raw materials.
Management is filed with the problems of how to make use of available scarce resources your order to achieve the objective of profit maximization.
This research work will provide solution of the following problems.
The purpose of this study includes the following:
The following are the basic for research in this study:
HI: Managers are using budgeting planning and controlling the business resource.
HO: Managers are not using budgeting in planning and controlling the business resource.
HI: Budgeting is a tool for effective decision making in manufacturing industry.
HI: Utilizations of resource is achieved with the use of budgeting and budgetary control
HO: Utilization of resources is not achieved with the use of budgeting and budgetary control.
In the business world the main objective is to maximize profit by providing goods and services of fair, comparative and affordable price no management can ignore profit maximization unless it will be stifled out of business.
Hence, this study is significant with the following reason?
The study of budgeting as a tool for planning and control in a manufacturing industry has its scope limited to Nigerian Breweries (NBL) Plc Enugu due to various constraints.
Among the major constraints is the fear of job security by some staff of the company might be unsafe if they grant interviews.
Again, funds available to the researcher and cost of printing the questionnaire to and from the respondents.
Moreover, there was retaining of time so as to come other course within the limited time.
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