Budgeting And Budgetary Control In A Business Organization

CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY A budget is a financial and quantitative statement prepared prior to a defined period of time of the policy to be pursued for the purpose of attaining a given objective. Also according to A.U.Nweze (2004) in his profit planning.Budget is a plan quantified in monetary terms, prepared and approved prior to a defined period of time, usually showing planned income to be generated and or expenditure to be incurred during that period and the capital to be employed to attain a given objective. Furthermore a budget is an attempt made at the beginn…