FINANCIAL PLANNING AND CONTROL IN MEDIA OUTFIT
Financial planning and control is important in an organization in the sense that it ensures proper planning and implementation of cash flow in the organization. Financial planning and control also discover fraud and irregularities of financials.In recent time, financial planning and control have been overviewed and emphasized by most organization. Consequently, fraud, loss, theft of cash and material are of increase with case of financial planning and control weakness in the system. This discussion emphasis will be placed on the type of control measure and financial planning and techniques in Vanguard Newspaper and how it has been used by the management to get accurate data.The primary and secondary source of data will be discussed in the historical background and the preliminary steps in financial planning and control in vanguard newspaper industry and responsibility of the financial department.Finally, offer the changes of the study, conclusion and recommendation will be made on the study.
TABLE OF CONTENTS
1.1 Scope of study
1.2 Objective of study
1.3 Significance of study
1.4 Limitation of study
1.5 Definition of terms
2.0 Literature Review
2.1 Definition of financial planning and control
2.2 Evolutions of Vanguard Newspaper Nigeria Limited
2.3 Historical Background of Newspaper industry in Nigeria
2.4 Preliminary steps in financial planning and control
2.5 Problems of media outfit
3.0 Summary, Conclusion and Recommendation
The attainment of corporate objectives is a function of the prudent use of committed economic resources. Towards this, many industries adopt various strategies being which financial planning and control in this regards empirical evidences have revealed that the newspaper industry is no exception.
This paper therefore aims of presenting a theoretical and empirical study to explain the degree of financial planning and control that exist in the newspaper industry in Nigeria. Certain indispensable tools used in presenting relevant facts fellows.The budgetary control system, functional budget planning, control project planning, control cash capital budget and balance sheet analysis have been given due primness.
A historical resume of the newspaper industry precedes the practice. The Daily Times of Nigeria Limited and the Vanguard Nigeria Limited have been chosen for the empirical studies.
The major factors that influence choices are the operational data available and ownership of each. Both companies made available relevant data when requested for the equity share of Daily Times Nigeria Limited is 60% owned by the federal government of Nigeria and 40% owned by members of the public while the equity share capital of Vanguard Nigeria Limited is 100% privately owned.
These constitute a good case material since the private and public sectors of the economy are covered. Other newspaper not selected has been discussed of micro level.
1.1 SCOPE OF THE STUDY:
The study intent to core financial planning in Vanguard Newspaper of Nigeria and has taken a other Nigeria outfit in the country. And point on the modern trends and contribution to the economy to enhance effective management and control in Vanguard Newspaper industry in Nigeria.
This study intent covering only vanguards newspaper as case study as media outfit enterprise.
1.2 OBJECTIVE OF THE STUDY:
The purpose of this project work is to identify the contributions of financial planning and control Nigeria media outfit.
1.3 SIGNIFICANCE OF STUDY:
1. The study intent to take a look at the financial planning and control generated by vanguard newspaper industries Nigeria and up pick point on modern trend in this project.
2. The difficulties being encountered by prospecting financial planning and control in getting to establish a stronger management in the newspaper industries.
3. Suggestion being proffered to enhance self reliance effective financial planning and control.
1.4 DEFINITION OF TERMS:
Financial planning and control is the managerial function that deal with the keeping of accurate financial records, preparing financial report, as appropriate determining the investment of funds in the capital market and other assets and obtaining the best means of financing in relation to the overall valuation of the firm.
It is also the mobilization of all the financial material setting in economic motion and monitoring them with the alternative aim of achieving a given financial target.
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