BUDGETEING AND BUDGETANCY CONTROL IN GOVERNMENT OWNED PARASTATALS A CASE STUDY OF ANAMBRA STATE HOUSING & DEVELOPMENT COPORATION.

89 PAGES (12428 WORDS) Accounting Project
INTRODUCTION
All organizations whether public or private, have some objectives or goods, which they aim to achieve. These objectives or goals could be the maximization of profit or rendering of services. The realization of an organization’s objective requires the acquisition and utilization of both human and material resources.
To achieve these objectives, the organization tries to economize resources and means of achieving its pre-determined goals. With there resources, the organization determined the most effective way of reducing its cost of production or operation while it maximized its productivity, thus increasing its profitability and the efficiency of the services rendered.
Profit optimization is achieved only by the properly planned use of available resources when the different activities are efficiently controlled. This also applies to the efficient rendering of services by government corporations.
Modern business management requires the use of some techniques in the formulation and adoption of planet and defined systems and tools with a view to achieving set goals such tools and systems include budgeting variance analysis and budgetary control.
The process of setting goals or objectives to be achieve at some future points in time and determining how these goals are to be reached is described as planning, the process of translating this plan into financial targets/estimates can be described as budgeting can be likened to short term tactical planning” which is defined as” the process of preparing a short term and detailed plan of the activities of an organization and so converting the strategic long term plan into actions’.
 The budget is a pre-determined statement of management policy during a given period, which provides a standard for comparism with the results actually achieved. The process of establishing a budget is know as budgeting while the process of assigning responsibilities for achievement of the budget, measuring actual performance and comparing it with the planned performance is known as budgetary control. Consequently, budgetary control is a system of controlling costs, which includes the preparation of budgets, co-ordination the departments and establishing responsibilities comparing actual performance with the budgeted and acting upon results to achieve maximum profitability.
The purpose of control is to ensure that operations and performance conform to the plans. The control aspect of budgetary activities is a management function which involves taking action on adverse variances that are controllable.
According to A Pogue, “a budget is not a control mechanism itself but a yardstick by which actual results can be compared as at and when they occur and thus provide management with an aid to control cost”. Budgetary control, therefore acts as a guard on the executive capacity by controlling their scope of expenditure.
This study is aimed at finding out the budgetary processes will used in government corporations and how these processes help in achieving their goals it also aims at determining the controls applied in cost reduction and the compares between the planned and actual performance. The focal point of this study is Anambra State housing development Corporation that is involved in the building of housing estate that it rants and/or sells out for residential and commercial purposes. It though a government parastatal., it operates as a commercial entering with profit as its main objective.

TABLE OF CONTENT
Cover page
Title page
Certification
Dedication 
Acknowledgment
Table of content

CHAPTER ONE
INTRODUCTION
1.1Overview of study
1.2Statement of problem
1.3Objectives of the study
1.4Hypothesis
1.5Significance of the study
1.6Scope and limitation of the study
1.7Definition of terms

CHAPPTER TWO
LITERATURE REVIEW
2.1Introduction to budgeting and badgers  
2.2Type of budgets for planning and control 
2.3Features of budgets 
2.4Budgetary control 
2.5Human aspects of budgeting and budgetary control.
2.6Innovations in the area of budgeting.

CHAPTER THREE
RESEARCH, DESIGN AND METHODOLOGY
3.1Research design
3.2Sources of data
3.3Sampling design
3.4Method of data analysis
3.5Data analysis from questionnaire
3.6Test of hypothesis

CHAPTER FOUR
PRESENTATION, ANALYSIS AND INTERPRETATION OF DATA
4.1Data analysis from questionnaire
4.2Test of hypothesis

CHAPTER FIVE
5.1Summary
5.2Conclusion
5.3Recommendations
Appendices
Appendix A – notes
Appendix B – Letter to the respondents and questionnaire
Appendix C -