ABSTRACT
Government and private organization renders estimates of expenditure and income which are planned by an organization for a particular period consequently upon this, we aim at finding out how budgets both in private and government sector are prepared and used for effective decision making and enhancement of profit maximization.
In order to achieve good result from the study it is necessary to works in chapters. Chapter one. Introductionto the research work stating the problem associated with budgeting and budgetary control in government owned parastatals. Listed the objectives, significance of the study its scope and limitation implying on the study. Chapter two reviewed the existing literature in relation to budgeting and budgetary control chapter three presented various data collected and sourced by the researcher. Chapter four presented various data collected and their analysis. Chapter five presented the summary of findings conclusion, suggested various recommendations, and measures to improve the budgeting and budgetary control in government owned parastatals.
TABLE OF CONTENT
Title page i
Certification page ii
Dedication iii
Acknowledgment iv
Abstract v
Table of contents
Chapter one
- Background of the study 1
- Statement of the problem 2
- Objective of the study 3
- Research questions 4
- Significance of the study 4
- Scope of the study 5
- Limitation of the study 5
- Definition of terms 6
Chapter two
2.0 Review of related literature 7
2.1 Types of budget for planning and control 10
2.2 Budgetary control 16
2.3 Innovation in the area of budgeting zero- based 22
Chapter three
3.1 Research Design 26
3.2 Areas of Study 26
3.3 Population of Study 26
3.4 Sampling Method 27
3.5 Research instrumentation 27
3.6 Validity and reliability of research instrument 27
3.7 Sources of data 28
3.8 Methods of Investigation 29
Chapter Four
4.0 Presentation and analysis of data 30
- Presentation and analysis of result 30
Chapter Five
5.0 Summary of findings/ conclusion and
Recommendations 39
5.1 Finding 39
5.2 Conclusions 41
5.3 Recommendations 42
Bibliography 44
Appendix 1 46
Appendix 11 47
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
According to Nwosu (1981, budget is a document containing words and figures which proposes expenditure for certain items and purposes. According to Oshisami (1992) budget is a plan expressed in quantitative and usually in monetary terms.
Budget is an instrument of economic policy which has various functions like it indicates the direction of the economy and expresses intensions regarding the utilization of the community’s resources. In operational terms, it leads to determination of growth and investment goals; this is concerned with macro economic balance in the economy. It provides the bases for legislative control and accountability. If also shows the income, expenditure and the capital to be employed government owned parastatals.
Budgetary control is the use of the comprehensive system of budgeting o aid management in carrying out it functions like planning, co-ordination and control. This system involves decision of sections known as budget center. When there is budgeting in government owned parastatalsls, polices are established, co-ordinated effort are attained, there is revaluation of organizational weakness and also prevention of wastes
Anambra state housing and development co-operation has been chosen as a case study in this research.
1.2 STATEMENT OF PROBLEM
The problem stated in this research is budgeting and budgetary control in government owned parastatals a case study of Anambra state housing and Development Corporation
Budgeting and budgetary control plays a vital role in government owned parastatals. It helps in its profitability, achievement of goals and also helps to attain a remarkable performance.
1.3 OBJECTIVE OF THE STUDY
The major objectives of the study are as follows:-
- To find out the procedures adopted in the formulation and implementation of annual budgets in Anambra state housing and development corporations.
- To show the extent of the adoption of budgeting and budgetary control in gout owned parastatals.
- To find out the importance of budgeting in the maximization of profit.
- To show the type of budget implemented and their actual performance in the goal owned parastatals
- To find out how budget can be formulated and executed in attainment of goals.
1.4 RESEARCH QUESTIONS
- Does budget create impact in terms pf profitability.
- Does budget serve as a tool for planning find the achievement of organizational goals?
- Does government owned parastatals practice budgeting
and budgetary control?
- Are the officers in charge of the budgetary control accountable for their objectives?
- Is the appraisal of the corporation’s performance based on the budget?
1.5 SIGNIFICANCE OF THE STUDY
This study will educate Anambra state government on the importance impact of budgeting and budgetary control in their own parastatals. This study is also important because it will help to reduce the rate of risk involved in decision making and future plans of Anambra state housing and development corporations.
1.6 SCOPE OF THE STUDY
This study is restricted to budgeting and budgetary control in gout owned parastatalsls. A case study of Anambra state housing and Development Corporation. It shows the extent through which budgeting and budgetary control helps to achieve the corporation’s objectives.
1.7 LIMITATION OF THE STUDY
This study was limited by the manner at which respondents approached question thrown to their, some of the respondents see the questions as evading of privacy. Lack of funds, inadequate time, lack of research facilities and the vastness of the area to be covered. Because of these problems, the researcher limited the study to Anambra state housing and development cooperation.
1.8 DEFINITION TERMS
- BUDGET: an estimate of income and spending for a set period
- VARIANCE: – is the difference between plan budgeted and actual result
- BUSINESS: an establishment which has profit motive maximization as it dominant or major objectives.
- GOVERNMENT: the government body of a state
- BUDGETARY CONTROL: is the use of comprehensive section of budgeting and management in carrying out its functions like planning, co-ordination and control.
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