+234 813 0686 500
+234 809 3423 853
info@grossarchive.com

SELECTION OF BUDGETARY CONTROL ON THE PROFIT OF BUSINESS ENTERPRISE

  • Type:Project
  • Pages:23
  • Format:Microsoft Word
(Accounting Project Topics & Materials)
INTRODUCTION
The increasing complexity of the business environment  has necessitated a systematic approach to the impact of budgetary control on the profit of business enterprise. 
Based on business philosophy, nationally or internationally corporate goal in centered on high production with minimal production cost and hence profit maximization. Sufficient profit is required so that the rating of the efficiency of the business organization will be high. 

The owners of the business will expect their rewards as dividends, the creditors require payment, the employees of the business organizations will demand their remunerations and the social responsibility to the community where they are located. All of the demands have to be met form the cash inflow. As a result, the need arises of the management  of the business enterprises to plan their operation and channel their resources into projects that would yield the highest profit.

REVIEW OF RELATED LITERATURE 
The ICMA terminology defined “a budget as a plan quantified in a monetary terms prepared and  approved prior to a defined period usually showing planning income to be granted and expenditure to be employed to attain that objective. 
Wison R.M.S. (1974 in his book financial control) a system approach defined “a budget as a quantitative plan of action that aids in the co-ordination and control of the acquisition and utilization of resources over a given period of time”.
It is the means by which the conflicting goals of various departments may be reconciled so that the best possible interest of the enterprises as a whole may be achieve. In one man operation, it may be possible to get by without reducing over all plans to quantitative terms.

On the other hands, even smaller businesses and becoming complex to the point that some systematic progress of getting figures down on paper is increasingly essential if all areas of a business are to be harnessed for achieving over all company aims budgetary control according to ICMA terminology refers to the establishment of budges relating the responsibilities of the executives to the requirement of a policy and the continuous comparism of actual results with budgeted results either to secure by individual actions the objectives of that policy or to provide a firm basis for its revision. 

As important part of the managerial task is to ensure that operations, departments, process and cost are under control and that the organization and its constituent parts are working efficiently towards agreed objective. 
Budgetary control stems the process of comparing actual results with planned or budgeted results. It is not simply a matter of financial manipulation, but a tool which shows a realistic terms the effect of adopting a particular policy and carryout plans made. It is an accounting system that lays down a plans for future operations. The starting point is the income to be expected from future sales. 

SELECTION OF BUDGETARY CONTROL ON THE PROFIT OF BUSINESS ENTERPRISE

Share This

Details

Type Project
Department Accounting
Project ID ACC2533
Price ₦3,000 ($9)
No of Pages 23 Pages
Format Microsoft Word

500
Leave a comment...

    Details

    Type Project
    Department Accounting
    Project ID ACC2533
    Price ₦3,000 ($9)
    No of Pages 23 Pages
    Format Microsoft Word

    Related Works

    INTRODUCTIONS 1.1 BACKGROUND OF THE STUDY The increasing complexity of the business environment has necessitated a systematic approach to the impact of budgetary control on the profit of business enterprise. Based on business philosophy, nationally or internationally corporate goal in centered on high production with minimal production cost and... Continue Reading
    TABLE OF CONTENT CHAPTER ONE: Introduction 1.1 Background of the study 1.2 The statement of the problem 1.3 Objective of the study 1.4 Significance of the study 1.5 Limitations of the study CHAPTER TWO Review of Related Literature 2.1 Budgetary control 2.2 Aims and objectives of... Continue Reading
    ABSTRACT The research is concerned with the effects of the impact of budgetary control on the profit of a business organization. TABLE OF CONTENTS TITLE PAGE APPROVAL PAGE DEDICATION ACKNOWLEDGEMENT ABSTRACT TABLE OF CONTENTS CHAPTER ONE: INTRODUCTION 1.1 BACKGROUND OF THE STUDY 1.2 STATEMENT OF THE STUDY 1.3 OBJECTIVE OF THE STUDY 1.4... Continue Reading
    A CRITICAL ANALYSIS OF BUDGETARY CONTROL: ITS EFFECTIVENESS AND EFFICIENCY IN A NON PROFIT MAKING ORGANIZATION (A CASE STUDY OF N.C.R.I BADEGGI) TABLE OF CONTENTS Title  page Approval page Dedication Acknowledgement Propose Table of contents   CHAPTER ONE:  Introduction         1.1            Purpose of the study... Continue Reading
    INTRODUCTION The essence of budgeting is to provide an essential element of control in an organization in order to facilitate the achievement of set objectives .The control process is the fundamental organization link between the manager and the other people in an organization in a non profit making organization output various with the objective... Continue Reading
    A CRITICAL ANALYSIS OF BUDGETARY CONTROL: ITS EFFECTIVENESS AND EFFICIENCY IN A NON PROFIT MAKING ORGANIZATION A CASE STUDY OF N.C.R.I BADEGGI PROPOSAL This research work will be A very crucial study for non- – profit making organization in Nigeria. The role of non – profit making organization in any economy is indispensable. To give this... Continue Reading
    INTRODUCTION The essence of budgeting is to provide an essential element of control in an organization in order to facilitate the achievement of set objectives .The control process is the fundamental organization link between the manager and the other people in an organization in a non profit making organization output various with the objective... Continue Reading
    CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY A budget is a financial and 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... Continue Reading
    (A CASE STUDY OF EMENITE NIGERIA LIMITIED EMENE ENUGU BRANCH) INTRODUCTION 1.1                                BACK GROUND OF THE STUDY           A budget is a financial and a quantitative statement prepared prior to a defined period of time of the... Continue Reading
    ABSTRACT This research work conducted with special reference to the budgetary system of Emenite Nigeria Limited with the view to ascertain the major role budgets play in the achievement of profitability for an organization. Budget as a profit planning device sets standards of... Continue Reading