The Importance of Budgeting in Decision Making in an Organization Using Okin Biscuit Nigeria Limited as a Case Study.

TABLE OF CONTENTS

Title page

Certification

Dedication

Acknowledgement

Table of contents

CHAPTER ONE

1.0         Introduction

1.1             Aims and Objectives of the Study

1.2         Scope of the Study

1.3         Significance of the Study

1.4         Statement of the Problem

1.5         Limitation and Problem of the Study

1.6         Historical Background of the Case Study

1.7         Definition of Terms

CHAPTER TWO

2.1             Review of Related Literature      

Definition of Budget and Objectives 2.2  Objectives of Budgeting

2.3         essential of budgeting/budget

1.            Top Management support

CHAPTER THREE

3.0         Research Methodology

3.1         Data collection

CHAPTER FOUR

4.1         Data Presentation analysis and interpretation

Result of the findings

CHAPTER FIVE

SUMMARY, CONCLUSION AND RECOMMENDATIONS

5.0         Summary

5.1         Conclusion

5.2         Recommendation

BIBLIOGRAPHY

APPENDIX I

APPENDIX II

 

CHAPTER ONE

1.0         INTRODUCTION

Two of the basic functions of managers are those p1anning and control.

Planning is the most essential thing that determine the goals and objectives of an organization, and best way in which these goals can be accomplished.

Control, on the other hand includes all these activities that ensure actions of the organization are towards the stated goals.

               In order to ensure that the company achievers its aims and objectives with in the minimum cost, the company will make a projection of its cost and revenue through a budget which controlling the cost and ensure that corrective actions are taken when ever cost are incurred by means of budget control.

Lucey 1997 defines budget as “a plan quantified in monetary terms prepared and approved prior to time usually showing planned income to be generated and planned expenditure to be incurred during the period and the capital to employ to achieve the given objectives.

Budget control is defined by the institute of cost and management account in 1966 edition as “the establishment of budget relating to responsibilities of executive to the requirement of a policy and the continuous comparison between actual and budgeted result whether to ensure by individual action of the objective of that policy to provide a basis for its revision.

Simeon Ibitayo defined budgetary control as “the process of comparing the actual result with the planned performance and highlighting variance therefore which can be analyzed by cause and responsibility.