BUDGETS AND BUDGETARY CONTROL AS A MANAGERIAL TOOL (A CASE STUDY OF UNITED NIGERIA INSURANCE COMPANY UNIC PLC)

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ABSTRACT

Every organization needs Budget for the effective running of its operations.

Consequently, this research work was designed to scrutinize budgets and budgetary control system in operation at United Nigeria Insurance Company Plc (UNIC) as a stepping-stone for managerial planning and control.

The review of related literature bears evidence of cuprous work on budgets and budgetary control in several other business operations.

The benefit that accrues from this concept has not being fully harnessed. Therefore, there is the practical necessity to ensure acceptance of budgets and budgetary control as an efficient managerial tool.

From a sample size of 33, individual draw from the offices, the impact of sound budget and budgetary control system on UNIC Plc operation was review and analysed using percentage, degree and chart.

Some hypotheses were also tested using the chi-square (X2) and Pearson product moments of correlation coefficient.

The chi-square test, revealed that budget and budgetary control have been of significant assistance in the company’s prompt decision making. It further revealed the companies rely very often on their budget.

The Pearson product moments of correlation coefficient shown that no correction subsists between the budgets and budgetary control and to makes the company to achieving their objectives.

TABLE OF CONTENT

Title page

Approval page

Dedication

Acknowledgement

Abstract

Table of content

CHAPTER ONE

1.0 Introduction

1.1 Background of the study

1.2 Statement of problem

1.3 Objective of the study

1.4 Research question

1.5 Research hypothesis

1.6 Significance of the study

1.7 Scope, limitation and delimitation

1.8 Definition of terms

References

CHAPTER TWO

2.0 Review of related literature

2.1 Meaning of budgets

2.2 Budgetary control

2.3 Operation of budgetary control

2.4 Classes of budgets

2.5 On the basis of flexibility budgets fails into two group viz

2.6 Manner of budget preparation

2.7 Preparation of typical budget

2.8 Responsibility according and budgetary control

2.9 Planning, programming and budgeting system (PPBS)

2.10 Zero base budgeting (Z.B.B)

2.11 Traditional budgeting

2.12 Cost benefit analysis

2.13 Conditions of successful budgeting

2.14 Behavioural implications of budget

2.15 Function of budget and budgetary control

References

CHAPTER THREE

3.0 Research design and methodology

3.1 Source of data

3.1.1 Primary data

3.1.2 Oral interview

3.1.3 Questionnaire

3.1.4 Secondary data

3.2 Location of data

3.3 Population of study

3.4 Sample and sample determination

3.5 Method of data presentation

3.6 Techniques for data analysis

References

CHAPTER FOUR

Data presentation and analysis

CHAPTER FIVE

5.0 Findings, conclusion and recommendation

5.1 Findings

5.2 Conclusion

5.3 Recommendation

Bibliography

Appendix 1

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BUDGETS AND BUDGETARY CONTROL AS A MANAGERIAL TOOL (A CASE STUDY OF UNITED NIGERIA INSURANCE COMPANY UNIC PLC)

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