Application Of Budgeting And Budgetary Control On Improving Corporate Profitability (A Study Of Nigerian Bottling Company Plc, Aba)
ABSTRACT
The rapid environmental changes that companies face today do
not only affect the production system and the new technology usage, but also
affect organizational performance and management philosophies. Budgeting and
budgetary control are as old as creation. Budgeting was first introduced in the
1 920s as a tool of managing cost and cash flows in the large industrial
organizations. John (1996) state that it was during the 1960s that companies
began to budget to dictate what people need to do. In 1970s, performance
improvement was based on meeting financial target rather than on effectiveness.
Between 1980 and present, there have been variations in the application of
budgeting and budgetary control though the concept remain relatively the same.
No doubt, the proper application of budgeting and budgetary control can lead to
improved corporate profitability. However, care must be taken so that
customers' satisfaction will not be sacrificed in the Alter of budget
attainment, as repeat business, which simply means that continuous patronage is
a sure way to maximize company's revenue.
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AGWAMBA, C (2021). Application Of Budgeting And Budgetary Control On Improving Corporate Profitability (A Study Of Nigerian Bottling Company Plc, Aba). Mouau.afribary.org: Retrieved Nov 01, 2024, from https://repository.mouau.edu.ng/work/view/application-of-budgeting-and-budgetary-control-on-improving-corporate-profitability-a-study-of-nigerian-bottling-company-plc-aba-7-2
CHIBUISI, AGWAMBA. "Application Of Budgeting And Budgetary Control On Improving Corporate Profitability (A Study Of Nigerian Bottling Company Plc, Aba)" Mouau.afribary.org. Mouau.afribary.org, 18 Aug. 2021, https://repository.mouau.edu.ng/work/view/application-of-budgeting-and-budgetary-control-on-improving-corporate-profitability-a-study-of-nigerian-bottling-company-plc-aba-7-2. Accessed 01 Nov. 2024.
CHIBUISI, AGWAMBA. "Application Of Budgeting And Budgetary Control On Improving Corporate Profitability (A Study Of Nigerian Bottling Company Plc, Aba)". Mouau.afribary.org, Mouau.afribary.org, 18 Aug. 2021. Web. 01 Nov. 2024. < https://repository.mouau.edu.ng/work/view/application-of-budgeting-and-budgetary-control-on-improving-corporate-profitability-a-study-of-nigerian-bottling-company-plc-aba-7-2 >.
CHIBUISI, AGWAMBA. "Application Of Budgeting And Budgetary Control On Improving Corporate Profitability (A Study Of Nigerian Bottling Company Plc, Aba)" Mouau.afribary.org (2021). Accessed 01 Nov. 2024. https://repository.mouau.edu.ng/work/view/application-of-budgeting-and-budgetary-control-on-improving-corporate-profitability-a-study-of-nigerian-bottling-company-plc-aba-7-2