The Impact of Budget and Budgetary Control in Tertiary Institutions

The Impact of Budget and Budgetary Control in Tertiary Institutions

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Reference ID: PS-7663-TM

DEDICATION

This research material titled “The Impact of Budget and Budgetary Control in Tertiary Institutions” is dedicated to God for his enabling grace, and to all computer enthusiasts who contributed to make life a pleasant experience during my research documentation.

ACKNOWLEDGEMENT

I extend my sincere gratitude to all those who contributed to the completion of this project. Special thanks to my Supervisor (Name of your Supervisor), the Head of Department (Name of your HOD), the Lecturers in the department of Economics, Book Authors and Profound Scholars of existing or related project material on “The Impact of Budget and Budgetary Control in Tertiary Institutions” for their invaluable guidance, support, and expertise throughout the journey.

I am also grateful to your study area (mention any funding organizations, if applicable) for their financial assistance. This research would not have been possible without the encouragement and assistance of some stakeholders (mention any mentors, teachers, or colleagues). Additionally, I would like to acknowledge the understanding and patience of my family and friends during this endeavor. Your unwavering support has been a constant source of motivation. Thank you all for being part of this meaningful endeavor.


The Impact of Budget and Budgetary Control in Tertiary Institutions

CHAPTER ONE

1.0 Introduction

Budgeting is essentially concerned with planning. According to Hausen .O. (1990). Dr. Jones discovered, failure of plan, either formally or informally, can lead to financial disaster. Careful planning is vital to the health of any organization. If that is the case, what role does budgeting play in planning and control. Simply put, plans identify objectives and action needed to achieve them.

Budgets are the actions needed to achieve them. Budgets are the quantitative expression of these plans. States in either physical or financial terms or both. Thus a budget is a method for translating terms. As a plan of action budgets can be used to control by comparing actual outcome as they happen with the planned outcomes.

Furthermore, according to Professor Anya O. Anya April 28th 2006, guarding newspaper, the universities and the challenge of a knowledge is base on the economy (2) the said “we have seen that economic and human development indices presently confirm that Nigeria is a very poor country where otherwise immense resources and potentials have not been realized as a result squander and poor management.

We have dedicated from the above points that planning budgeting and control is very essential in all sphere of endeavor be it public or private sectors. In other words, the necessary uncertainty and complexity in the socio-political economic and public sectors of Nigeria society have been made it very difficult for co-operate entities irrespective of the nature of their business (profit oriented or service oriented) coupled with the changes in social, economic, technological and political system to achieve optimal result without setting proper planned targets. With the trend of failure recently witnessed in the financial sector, arising from factors both internal external organizations and their management should ensure that they had decision about their future.

CHAPTER TWO

2.0 Literature Review

2.1 Introduction

This chapter focuses on the review of related literature. A literature review includes the current knowledge as well as theoretical and methodological contributions to a particular topic. It documents the state of the art with respect to the topic you are writing. It surveys the literature in the topic selected. In this research work the literature review includes the …

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