BUDGETS AND BUDGETING

  Learning Objectives

After studying this chapter, you should be able to:

·      explain the concept of budgeting

·      explain the types of budgets

·      explain the concept of principal budget factor

·      distinguish between budgeting and forecasting

·      explain the objectives of budgeting

·      explain the factors to be considered in introducing budgets for the first time

·      explain what is meant by: budget committee and budget manual.

·      explain the behavioral factors in budgeting

·      prepare functional budgets, cash budgets and the master budget.

INTRODUCTION

At the beginning of the financial period of every organisation, whether the organisation is publicly or privately owned, it needs to develop its budget to guide its operations for the year ahead. Budgeting is therefore an important process of every organisation. How effectively the budgeting process is handled in an organization could define success or failure for the organisation.

Section One: Introduction to Budget

1.1         Definition of budget

A budget is a quantitative plan of the operations of an organisation or an   individual;

it identifies the resources and the commitments required to fulfill the organization‟s

individual‟s goals for theincludesbudgetedbothfinancialand nonperiod-. financial aspects of the planned operations.

1.1.1    What a budget is:

CAPITAL BUDGETING: AN INTRODUCTION

Learning Objectives:

After studying this chapter, you should be able to:

·              appreciate the concept of capital budgeting.

·              explain the nature and role of capital budgeting decisions.

·              identify and discuss the main methods of appraising and ranking investment proposals used in practice (NPV, IRR, PI, ARR, and PBP).

·              discuss the strengths and weaknesses of the methods of ranking investment proposals.

·              appreciate the necessity of capital budgeting in long term decision making.

13.1 Capital Budgets and Decision Making

13.1.1 The Concept of Capital Budgeting

Capital budgeting is the planning of expenditure whose returns extend beyond one year; it is the process of deciding whether or not to commit resources to a project whose benefits would be spread over several time periods. It considers proposed capital outlays and their financing. The main exercise involved in capital budgeting is to relate the benefits to costs in some reasonable manner which would be consistent with the profit maximizing objective of the business. Capital budgeting decisions belong to the most important areas of managerial decisions as they involve more extended estimation and prediction of things to come requiring a high order of intellectual ability for their economic analysis.

Research Project Topics for Final Year Political Science Students

Below are Research Project Topics for Final Year Political Science Students.  Choose from any of them and when you have gotten approval, you can contact us at: theotherwomaninmarriage@gmail.com or 07069373637, 08056128950

for negotiation on the materials or for the writing.

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1	DEMOCRACY, POLITICS AND CONFLICTS IN THE FOURTH
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3	THE ROLE OF PRIVATE AGENCIES IN THE PROMOTION OF MASS LITERACY
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5	COMBATING CORRUPTION IN NIGERIA: A CASE STUDY OF THE ECONOMIC AND FINANCIAL CRIMES COMMISSION (EFCC)

Research Project Topics for Final Year Sociology Students

Below are Research Project Topics for Final Year Sociology Students.  Choose from any of them and when you have gotten approval, you can contact us at: theotherwomaninmarriage@gmail.com or 07069373637, 08056128950

for negotiation on the materials or for the writing.

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1	DOMESTIC VIOLENCE AGAINST WOMEN IN THE FAMILY: A CASE STUDY OF UGHELLI-NORTH LOCAL GOVERNMENT AREA OF DELTA STATE
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3	THE ROLE OF SOCIAL WELFARE SERVICES ON BROKEN HOMES A CASE STUDY OF OREDO LOCAL GOVERNMENT AREA OF EDO STATE.
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6	AN EVALUATION OF HUMAN TRAFFICKING AMONG OUR YOUTH IN THE SOCIETY: A CASE STUDY OF OREDO LOCAL GOVERNMENT AREA OF EDO STATE
7	STUDENTS’ PERCEPTION OF WOMEN TRAFFICKING AS A SOCIAL PROBLEM IN NIGERIA (A CASE STUDY OF AKOKO SOUTH WEST LOCAL GOVERNMENT AREA OF ONDO STATE)
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Research Project Topics for Final Year Economics Students.

Below are Research Project Topics for Final Year Economics Students.  Choose from any of them and when you have gotten approval, you can contact us at: theotherwomaninmarriage@gmail.com or 07069373637, 08056128950

for negotiation on the materials or for the writing.

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1	TRADE OPENNESS AND OUTPUT GROWTH IN NIGERIA AN ECONOMETRIC ANALYSIS (1970-2007)
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Research Project Topics for Final Year Accounting Students

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you can contact us at: theotherwomaninmarriage@gmail.com or 07069373637, 08056128950 for negotiation on the materials or for the writing.

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	THE IMPACT OF INTEREST RATE DEREGULATION ON COMMERCIAL BANKS’ LENDING OPERATIONS IN NIGERIA (A SURVEY OF UNION BANK OF NIGERIA PLC ENUGU
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BUSINESS ADMINISTRATION RESEARCH PROJECT TOPICS

Below are Research Project Topics for Final Year Business Administration and Management Department.  Choose from any of them and when you have gotten approval,

you can contact us at: theotherwomaninmarriage@gmail.com or 07069373637, 08056128950 for negotiation on the materials or for the writing.

Note: You can change the case study to where ever you want.

	1.    THE CONTRIBUTION OF OIL COMPANIES TO THE DEVELOPMENT OF PORT HARCOURT LOCAL GOVERNMENT AND OGONI LOCAL GOVERNMENT AREAS IN RIVER STATE
	2.    SUSTAINABLE EDUCATIONAL POLICIES AND NATIONAL DEVELOPMENT, THE NIGERIA EXPERIENCE
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	7.    GOVERNMENT INTERFERENCE IN MANAGEMENT OF FINANCIAL INSTITUTE ( A CASE STUDY OF UNION BANK OF NIGERIAN PLC)
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	15. DIFFERENCE IN WAGES AND SALARIES STRUCTURE IN THE NIGERIA ECONOMIC (A CASE STUDY OF UNTH HEALTY SECTOR)
	16. MERGER AND ACQUI

BUSINESS ADMINISTRATION AND MANAGEMENT DEPARTMENT PROJECT TOPICS

Below are Research Project Topics for Final Year Business Administration and Management Department.  Choose from any of them and when you have gotten approval,

you can contact us at: theotherwomaninmarriage@gmail.com or 07069373637, 08056128950 for negotiation on the materials or for the writing.

Note: You can change the case study to where ever you want.

	1.    THE CONTRIBUTION OF OIL COMPANIES TO THE DEVELOPMENT OF PORT HARCOURT LOCAL GOVERNMENT AND OGONI LOCAL GOVERNMENT AREAS IN RIVER STATE
	2.    SUSTAINABLE EDUCATIONAL POLICIES AND NATIONAL DEVELOPMENT, THE NIGERIA EXPERIENCE
	3.    THE EFFECT OF DUMPING HUMAN WASTE IN THE INSTITUTE OF MANAGEMENT AND TECHNOLOGY AND HOW TO SOLVE THEM
	4.    THE CONTRIBUTION OF SMALL-SCALE INDUSTRIES TO THE NIGERIAN ECONOMY. ( A CASE STUDY OF ENUGU URBAN)
	5.    THE STRATEGIES FOR AVOIDANCE OF DISTRESS IN NIGERIA COMMERCIAL BANK (A CASE STUDY OF FIRST BANK PLC ENUGU)
	6.    SENIOR MANAGEMENT RECRUITMENT (A CASE STUDY OF ANAMMCO)