Relationship Between Budgetary Control and Management Performance (a Case Study of Access Bank)
Quick Navigation for Final Year Undergraduates, Masters (Thesis), and Ph.D. Dissertation Students Who Need Our Services on Their Research Works
|Find More Project Topics||FIND HERE|
|Hire Us for Thesis Works||HIRE NOW|
|Hire Us for Project Works||HIRE NOW|
|Hire Us for Seminar Works||HIRE NOW|
|Hire Us for Assignments||HIRE NOW|
|Hire Us for Proposals||HIRE NOW|
|Contact Us||HERE NOW|
Abstract on Relationship Between Budgetary Control and Management Performance (a Case Study of Access Bank)
An attempt was made to examine the relationship between budgetary control and management performance. In this study, the composition of budgetary control and management performance were examined, whether it confirms with conventional rule of industry’s norm. The problem areas in relationship between budgetary control management perform lighted and solutions suggested.
The Survey research design was employed in this study. The questionnaire was the major research instrument used to collect information from the respondents. The methods of budgeting and budgetary control was used to analyze the collected.
The findings of this study revealed that the method of budgeting and budgetary control used in the organization were effective, it is also lack of time, inadequate information, delays from other staff and incompetence among some staff. Some of the problems of budget proposal and implementation were fraudulent practices, leadership tussle, inadequate funds, delay from other staff and exaggeration of budget figures.
Chapter One of Relationship Between Budgetary Control and Management Performance (a Case Study of Access Bank)
BACKGROUND TO THE STUDY
Planning and control are major activities of management in all organizations. Budgets are central to the process of planning and control. The involvement with budget places the management accountant as a key player in the provision of management information. A budget is one of useful tools for monitoring the implementation of a correctly cost operational plan of entity. Historically, budget emerged out of a need to control and monitor the project income and the utilization of funds by entities
Performance measurement and management control are critical component of impairing organization performance. In this study, budget is set within an overall organization planning and control framework. A common sub Division of the wider planning and control framework in organization is strategic planning, management control and operational or task control.
Strategic planning is the process of deciding on the goals of the organization and the formulation of the broad strategies to be use in attaining these goals. It is creative and involves identifying a company’s strengths and opportunities to grow while minimizing weakness and threats. It has a long-term orientation and looks outside the organization at customers and competitors.
Management control is the process by which management assures that the organization carries out its strategies. It is more short-time is focused on middle management and is more rhythmic and routine.
Operational or task control is the process of assuming that specific tasks are carried out effectively and efficiently. The time scale may be very short-term and addresses targets of junior management most often is based on the used of non-financial measures and may be based on clearly defined input/output relationships.
Generally, an organization’s objectives are expressed in on and three to five year time frames and are informed by its mission and vision. Traditionally, objectives are based on financial measures but increasingly are inclusive of non-financial measures. Strategies are the ways in which the organization expect to achieve success. Depending on the uncertainty of the environment strategies can be developed as a “plan’ or a series of decisions made in a period of time but either way, for a stipulated time period their outcomes are consistent with the organizations objectives in that they are expressed in financial and increasingly, non-financial terms broadly management control system serve as the foundation for decision-making in all organization differ, management control systems provide the same structural support for the activities and goals of the organization ultimately, organizations adopt management control system with the expectation that they will facilitate better with the making and leads to improve organizational performance. Over time, the one would expect firms to adopt their management control system in an effect to maximum firms performance. To Dates, Empirical Research has not fully examined the effects of management control systems and planning on performance.
Previous studies suggest budgets are very unpopular with managers. There is scant evidence linking budgetary control and planning directly to organizational performance, the focus of this study.
The study thus provide an analysis of budgeting process, control and planning among organization in Nigeria and a particular reference to industrial sector with the ultimate aim of demonstrating the role of management accountant in the process.
The study will examine the link between budgetary control and organization performance in Access Bank of Nigeria Plc.
STATEMENT OF THE PROBLEM
The budget is perhaps the most important instrument of government. But the concept, the policy and legal framework, the process and how it can be analyzed and evaluated is not understood by majority of managers.
Budgeting on the budget. It refers to the procedures and mechanisms by which the budget is prepared, Implemented and monitored. Budgeting is very crucial for the growth of the organizations. Good budgeting can lead to productivity growth and profitability. But to prepare a good budget requires a responsible leadership, special staff assistance, broad accurate and reliable information, completion plan, a financial calendar and effective monitoring and control over the execution of the budget plan. Research have however shown that 80% of the companies in Nigeria are dissatisfied with their planning and budgeting with their planning and budgeting processes and it has been estimated that these processes use up to 20% of all management time (Salihu, 2005).
The study thus provide an analysis of the budgeting control process and planning in financial institution in Nigeria. It will discuss budgets in a wider planning and control context and discuss a number of issues surrounding the generation and use of the budgets.
OBJECTIVES OF THE STUDY
The broad objective of the study was to examine the links between budgeting as a tool for management control and Planning in an organization with particular reference to Access Bank of Nigeria Plc.
This research work aim at achieving the following objectives.
- To evaluate the impact of budgeting and budgetary control on the support of top management staff
- To identify the role of budgeting and budgetary control on accountability
- To examine the effect of Budgeting and budgetary control on the performance of an organization.
Taking cognizance of the above, the research problems can be optimized by means of the following questions:
- How was the budget developed?
- To what extent the Access Bank of Nigeria Plc finance sources of revenue attained?
- To what extent the budget problem named the performance of budget in financial institution in Nigeria.
- What are the roles of account department in Access Bank of Nigeria Plc.
- To what extent the budget can influence the design of the budget objectives in the budget planning phase?
STATEMENT OF RESEARCH HYPOTHESES
The following are the hypotheses to be tested.
H0: That there is no significant relationship between Budgeting and budgetary control on the support of Top management staff.
HA: That there is significant relationship between Budgeting and budgetary control on the support of Top management staff.
H0: That there is no significant relationship between budgeting and budgetary control on Accountability.
HA: That there is significant relationship between budgeting and budgetary control on Accountability.
H0: That there is no significant relationship between budgeting and budgetary control on the performance of an organization
HA: That there is significant relationship between budgeting and budgetary control on the performance of an organization
METHODOLOGY OF THE STUDY
This research work employs both primary and secondary sources of data generation. The primary data is sourced through questionnaire that is administered to the management and staff of Access Bank Plc. In addition, the research would conduct personal interview with various persons who are not staff of the bank but form anther banks.
Secondary source of data used include textboxes, documented records relevant to the study, example include the annual statement of account and reports of Access Bank and the past budget statement of the bank.
SIGNIFICANCE OF THE STUDY
Budget is a reflection of the operational plans of an entity. A budget is an action plan for a specific period of time covering all departments/function/facets of an organization and containing targets to be achieved both in physical and financial terms, which serve as important criteria of performance.
Previous research has tended to focus on the antecedents of budgetary control, rather the effects of budgetary control. For example Simons (1987) found that a firm’s strategy was related to its choice of control systems. More recently, Widener (2007) finds that in certain strategic conditions, information processing needs are such performance measure both interactively and diagnostically suggesting multiple interdependent and complementary relations among the control system.
SCOPE AND LIMITATION OF THE STUDY
The research work is carried out on Access Bank Nigeria Plc. The study covers the process, formation and budgetary control in Access Bank Nigeria Plc and it ranges form 2001-2007 accounting years.
The major limitations tots the study are time for completion of the study and financial constraints. Other limitation includes reliability and death of information.
DEFINITION OF TERMS
- Budget: Is a plan quantified in monetary terms prepared and approved prior to a defined time usually showing planning income to be generated and/or expenditure to be incurred during that period and the given objective employed of attain a given objective.
- Operational plan: Is derived from a broad strategies plan of an entity.
- Budgetee: Is a subordinate manger that arranges a budget proposal according to the requirement of the requirement of the superior manager.
ORGANIZATION OF THE STUDY
The research work is planed to be divided into five chapters.
Chapter one covers the introduction, statement of problem, objectives of study, significance of the study research methodology, scope and limitation of study, research question and research hypothesis.
Chapter two covers the literature review and theoretical frame work of budgeting. It also includes overview of Access Bank Nigeria Plc.
Chapter three explains research methodology.
Chapter four covers data analysis and interpretation of results.
Chapter five contains summary, findings, recommendation and conclusion of the study.
This research material is intended for academic use only and should be used as a guide in constructing your research project and seminar presentation. You should never duplicate the content word for word (verbatim), as SCHOOLTHESIS.COM will not be held liable for anyone who does.
The purpose of publishing this material is to alleviate the stress of hopping from one school library to the next in search of research materials. This service is lawful because all educational institutions allow students to read past projects, papers, books, and articles while working on their own.
SCHOOL THESIS is merely giving this information as a research reference. Use the document as a reference or structure for your own research paper. This paper’s content should be able to assist you in coming up with new ideas and thoughts for your own study
Relationship Between Budgetary Control and Management Performance (a Case Study of Access Bank) research paper, should only be used as a guide.