Full Project-BUDGETING AS AN INSTRUMENT OF ADMINISTRATIVE CONTROL OF PUBLIC AGENCIES IN NIGERIA (A STUDY OF MINISTRY OF FINANCE, UYO)

Click here to Get this Complete Project Chapter 1-5

CHAPTER ONE

INTRODUCTION

1.1   BACKGROUND OF THE STUDY

Budgeting and budgetary control will continue to play a significant role in public organizations in Nigeria, considering the need to compete favorably with other organizations (both public and private) and make sure the organization is a going concern, most government agencies have adopted budgets and budgetary control techniques to effectively and efficiently allocate resources and achieve stated goals. Every Business oriented organization is aimed among other at making profits as high as possible.  All efforts, therefore are diversified at effective planning process with a maximum cost involvement in its decision making drive towards achieving the desired objectives, management often provides basic guideline which are quantified in financial terms and it mineral values.

Budgeting is required to achieve many deferent aims within an organization, if not only aid in planning, co-ordinations and communicating the activities of the organization, but also as a control and motivating devices in the management of the management of the organization. Budgeting call for effective monitoring and controlled by the head of the organization since budget animates from different sections departments and all the branches of a company which no company is an exception so as to guarantee its reliability and also minimize deviation from plans. Budgeting starts with the setting out of the objectives of the organization by the management for the budget year according to government’s fiscal and monetary guideline and policies. The top management staffs must communicate the policy affect the long term plan to those who are responsible for preparing the current year budget.  The manager prepare the minimal budgets for those area for which they are responsible and submit it to their supervisory officer while the budget is examined and summarized into master budget which consists of budgeted profits and loss accounts, balance sheet and the cash statement.  The approval of the master budget constitute authorities of the manager countered in carrying out the plants while are contained in each budget.  For management to provide adequate control over the over the budget of an organization, It should co-ordinate all the various phrases of the firms activities and the collaboration of the responsible parties in achieving the actual results with budget to establish the variance.  It should trace the variances to where it arose so as to control the various effectively.

1.2   STATEMENT OF THE PROBLEM

The decision as to how to distribute limited financial and non-financial resources, in an effective and efficient manner, is an important challenge in all organizations. In government agencies, this task would be nearly impossible without budgeting. Without effective budget analysis and feedback about budgetary problems, many organizations and government agencies would become bankrupt. Some of the problems arise from inadequate data to formulate and implement a proper budget; and non existence of well defined structure, which leads to overlapping of duties. These deficiencies can therefore be addressed through the use of budgeting instrument. Therefore, this study traces the extent by which budgeting can used as a good planning and controlling tool in Ministry of Finance, Uyo.

1.3   OBJECTIVES OF THE STUDY

The main aim of the study is to examine budgeting as an instrument of administrative control of public agencies in Nigeria. Specific objectives of the study are:

To find out whether budgetary aid effective planning and control in Ministry of Finance, Uyo. To examine whether budgeting control is used as an instrument of enhancing organizational performance. To examine whether budgetary control affect the working performance of employees in Ministry of Finance, Uyo. To determine whether budgetary control has contributed to the success of Ministry of Finance, Uyo.

1.4   RESEARCH QUESTIONS

In-order to guide the study and achieve the stated objectives for the study, the following research questions was formulated:

Does budgeting aid effective planning and control in Ministry of Finance, Uyo? Does budgetary control used as an instrument of enhancing organizational performance? Has budgetary control contributed success of Ministry of Finance, Uyo? Does budgetary control affect the working performance of employees of Ministry of Finance, Uyo?

1.5   RESEARCH HYPOTHESES

HYPOTHESIS 1

H0:  Budgetary does not aid effective planning and control in Nigeria in Ministry of Finance, Uyo.

HYPOTHESIS 2

H0:  Budgetary control does not used as an instrument of enhancing organization.

1.6  SIGNIFICANCE OF THE STUDY

The addition of knowledge is basically the aim of every research and this research work seeks to achieve just that. More importantly, this research is necessary in understanding how the budgetary control is established, and also how it affects organizational performance.  It is a tool which measures managerial performance of an organization and promotes good morale and harmony in the organization. It enable the organization verify whether or not the plans of the organization are understood by all members, and put into effect corrective measures where deviation or under deviation is occurring.  Since budget is a tool for planning, and financial planning is of almost significance to a business man, it enables the organization project the future consequences of present decisions in order to avoid surprises and understand the link between present and future decision.

1.7   SCOPE OF THE STUDY

The study examines budgeting as an instrument of administrative control of public agencies in Nigeria, using Ministry of Finance, Uyo as a study area.

1.8   LIMITATION OF THE STUDY

The study limitation was inability of management to divulge certain information which they consider sensitive and fear of publication which might be detrimental to their operation.

Distance and its attendant cost of travel in order to obtain information which to write this study was also a major limitation. Another limitation to the study is short time factor which did not give time for thorough research work, hence gathering adequate information becomes very difficult.

Finally, lack of materials on the topic; this is new in the area of budgeting as an instrument of administrative control of public agencies in Nigeria. Therefore, the researcher resolved to seek friendly approach in order to obtain the needed materials or information from the organization under study through the administration of questionnaire.

1.9   DEFINITION OF TERMS

BUDGET: The chartered institute of management Accountants (CIMA) defines budget as “a plan quantified in monetary terms, prepared and approved prior to a defined period usually one year, showing planned income to be generated and expenditure to be incurred during that period, and he capital to be employed to attain that objective. BUDGETARY CONTROL: This is the establishment of a budget relating the responsibilities of executives to the requirements of a policy and the continuous comparison of actual with budgeted results either to secure the individual actions with the objective of that policy or to provide a basis for its revision. PLANNING: This is the establishment of objectives, and the formulation, evaluation and selection of the policies, strategies, tactics, and action required to achieve these objectives. CONTROL: This s the process of ensuring that a firm’s activities conform to its plans and that its objectives are achieved. VARIANCE: this is the difference between planned (budgeted) and actual results. FAVOURABLE VARIANCE: This is excess of the budgeted result over the actual result, in the case of cost.  But in the case of revenue it is the excess of that result over the budgeted. UNFAVOURABL VARIANCE: this is the excess of actual result are the budgeted in terms of cost and vice-versa in terms of revenue. BUSINESS: Any establishment which has profit motive or maximization as its major objectives. ORGANIZATION: All establishment whether government or privately owned

Get the Complete Project

This is a premium project material and the complete research project plus questionnaires and references can be gotten at an affordable rate of N3,000 for Nigerian clients and $8 for International clients.

Click here to Get this Complete Project Chapter 1-5

You can also check other Research Project here:

1, Accounting Research Project

2. Adult Education
3. Agricultural Science
4. Banking & Finance
5. Biblical Theology & CRS
6. Biblical Theology and CRS
7. Biology Education
8. Business Administration
9. Computer Engineering Project
10. Computer Science 2
11. Criminology Research Project
12. Early Childhood Education
13. Economic Education
14. Education Research Project
15. Educational Administration and Planning Research Project
16. English
17. English Education
18. Entrepreneurship
19. Environmental Sciences Research Project
20. Guidance and Counselling Research Project
21. History Education
22. Human Kinetics and Health Education
23. Management
24. Maritime and Transportation
25. Marketing
26. Marketing Research Project 2
27. Mass Communication
28. Mathematics Education
29. Medical Biochemistry Project
30. Organizational Behaviour
31. Other Projects
32. Political Science
33. Psychology
34. Public Administration
35. Public Health Research Project
36. More Research Project
37. Transportation Management
38. Nursing

Need a Project Writer for a Different Topic

• MSC PROJECT WRITING SERVICES
• MBA RESEARCH PROJECT WRITING SERVICES
• Research Project Writing Services in Lagos Nigeria (Professional Writers) -Law, MSc, MBA,PhD, Dissertations, Thesis, Assignment, Speech
• Masters Research Project Writer in Lagos Nigeria
• MBA Research Project Writer in Lagos Nigeria
• LOOKING FOR A WRITING SERVICES FOR AN URGENT ASSIGNMENTS OR PROJECT WORK
• PROFESSIONAL WRITING SERVICES IN LAGOS NIGERIA (TERM PAPER, SPEECH WRITING, ASSIGNMENT, THESES, DISSERTATIONS, RESEARCH PROPOSAL, PROJECT WRITING SERVICES etc)
• BUSINESS ADMINISTRATION RESEARCH PROJECT WRITER IN LAGOS NIGERIA
• CONSULT A RESEARCH PROJECT WRITER IN LAGOS NIGERIA (PH.D, MBA, MSC, M.ED, BSC)
• MANAGEMENT RESEARCH PROJECT WRITER IN LAGOS NIGERIA
• Education Research Project Writer in Lagos Nigeria
• Environmental Sciences Research Project Writer in Lagos Nigeria
• Guidance and Counselling Research Project Writer in Lagos Nigeria
• Human Kinetics and Health Education Project Writer in Lagos Nigeria
• Early Childhood Education Research Project Writer in Lagos Nigeria
• Christian Religious Studies(CRS) Research Project Writer in Lagos Nigeria
• Educational Administration and Planning Research Project Writer in Lagos Nigeria
• Political Science Research Project Writer in Lagos Nigeria
• Accounting Research Project Writer in Lagos Nigeria
• Economics Research Project Writer in Lagos Nigeria
• Management Research Project Writer in Lagos Nigeria
• Marketing Research Project Writer in Lagos Nigeria
• Public Administration Research Project Writer in Lagos Nigeria
• MBA Research Project Analysts
• In Need of MBA Research Project Writer in Nigeria
• MBA Dissertation Research Project Writer
• MBA Project writer
• EDUCATION DEPARTMENT PROJECT WRITING SERVICES
• BACHELOR OF SCIENCE (BSC) DEGREE PROJECT WRITING SERVICES(B.ED,B.A,B.SC)
• MASTER OF BUSINESS ADMINISTRATION (MBA) RESEARCH PROJECT WRITING SERVICES
• MASTER OF SCIENCE (MSC) RESEARCH PROJECT WRITING SERVICES
• POST GRADUATE RESEARCH PROJECT WRITER
• POST GRADUATE DIPLOMA (PGD) RESEARCH PROJECT WRITER
• MASTER RESEARCH PROJECT WRITER
• MASTER DEGREE RESEARCH PROJECT WRITING SERVICES
• POSTGRADUATE RESEARCH PROJECT WRITING SERVICES
• MASTERS RESEARCH PROJECT WRITING SERVICES
• RESEARCH PROJECT WRITER
• EXPERT IN RESEARCH PROJECT/THESIS/DISSERTATION WRITING SERVICES IN LAGOS NIGERIA
• HIRE A PROFESSIONAL BSC/HND RESEARCH PROJECT WRITER
• HIRE A PROFESSIONAL MBA/MSC RESEARCH PROJECT WRITER
• HIRE A PROFESSIONAL THESIS WRITER IN LAGOS NIGERIA
• SC/M.SC/MBA/PGD RESEARCH PROJECT WRITER IN LAGOS NIGERIA
• Master Degree Research Project Specialist/Writer in Lagos, Nigeria
• Hire A Research Project Writer in Lagos Nigeria
• Research Project Specialist in Lagos, Nigeria

• Education