THE ROLE OF BUDGETARY CONTROL AS A TOOL FOR COST CONTROL IN MANUFACTURING COMPANIES IN NIGERIA
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 5000
ABSTRACT
The study examined the role of budgetary control as a tool for cost control in manufacturing companies in Nigeria. The study sought to examine the impact of budgetary control on cost control. The sample of the study comprised of ten manufacturing firms registered with Nigeria Stock Exchange (NSE) namely Nestle Nigeria Plc, Unilever Nigeria Plc, Evans Medical Plc, Beta Glass Plc, 7-UP Bottling Company Plc, Nigeria Breweries Plc, Nigeria Flower Mills Plc, Dangote Group, Pz Cussons, Glaxosmithkline.
A structured questionnaire was used, and the study adopted both the purposive sampling and simple random sampling technique to select 60 randomly selected staff of the manufacturing firms, the study further employed the descriptive survey design and the ex-post facto design.
The descriptive statistics and regression analysis were employed to analyze the data. Findings of the study indicated that Budgetary control has impact on cost control in selected manufacturing firms in Nigeria; Budget ensures effective cost control and profit growth in selected manufacturing firms in Nigeria; There is relationship between planned and actual budget in selected manufacturing firms in Nigeria.
The study concludes that budget is an effective tool used by management to control cost in manufacturing firms in Nigeria.
The study suggests amongst others that, It is important to develop a budget manual which everyone in the organization can refer to for guidance, education and information about the budgetary process; Management of selected firms should introduce adequate accounting system which will bring about checks and balances; In order for budgeting to achieve its objectives, it is necessary that budget should not be too restrictive and/or rigid; The budget set by the management should be the one that is attainable.
Related Project Materials
An Investigation of Nurses' Knowledge and Adherence to Ethical Principles in Patient Care at Olabisi Onabanjo University Teaching Hospital
Background of the Study
Ethical principles are fundamental in guiding healthcare practices, ensuring that patient care is d...
USE OF INTERPERSONAL COMMUNICATION SKILLS BY REFERENCE LIBRARIANS IN FEDERAL ACADEMIC LIBRARIES IN KOGI STATE, NIGERIA
ABSTRACT
This study on the Use of Interpersonal Communication Skills by Reference Librarians in Federal Academic Libraries in Kogi State,...
An investigation of stone tool remains and their implications for early human occupation in Ijebu North-East Local Government Area, Ogun State
Background of the Study
Stone tool remains recovered in Ijebu North-East have provided crucial evidence of early human occ...
ASSESSMENT OF MONETARY POLICIES EFFECT ON NIGERIA COMMERCIAL BANK (A CASE STUDY OF ZENITH BANK PLC)
BACKGROUND OF THE STUDY
Credit has remained the backbone of banking operations, hence the majority of banking activities...
INVESTMENT ON HUMAN CAPITAL AND ITS IMPACT ON NIGERIAN ECONOMIC GROWTH
Abstract
This research work studied investment on human capital and its impact on Nigeria economic grow...
An appraisal of the use of location-based marketing in Nigerian retail businesses: A study of department stores in Sokoto State
Background of the Study
Location-based marketing (LBM) leverages geographic data to deliver targeted pr...
The impact of teacher collaboration on the success of inclusive education in Gusau LGA, Zamfara State
Background of the Study
Teacher collaboration has emerged as a pivotal element in the effective implementation of inclusiv...
The Financial Implications of Misallocation of Public Funds in Local Government Councils: Evidence from Anambra State
Background of the Study
The misallocation of public funds is a pervasive issue in local government councils, undermining...
THE IMPACT OF PUBLIC ENTERPRISES ON SOCIAL ECONOMIC DEVELOPMENT
ABSTRACT
This research study is designed to contain the contributions and role of public enterprises on socio-econ...
THE MENACE TO VOTE BUYING IN NIGERIAN ELECTIONS (A STUDY OF 2019 AND 2023 ELECTION)
Background of the study
One of the pillars that support every democracy is elections. Elections seem to...
