Budgeting – A Review Of Higher Institutions In Nigeria

Budgeting – A Review Of Higher Institutions In Nigeria

Budgeting – A Review Of Higher Institutions In Nigeria

Definition Of Budgeting

Counsel (1980) defined budgeting as “ a useful management technique, which can aid in the future guidance of a business”. He went further to define budgeting as an attempt to look at the future to see what conditions will be like; to estimate what sales ca reasonably be plan the production needed for those sales; to decide what other costs and expenses will be., and to estimate also the need for cash reserve, the level of stocks required, the amount of credit to be given to customers and taken form suppliers and the need for capital investment in new equipment, vehicles or building.

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Harper (1986) also defines budgeting as “a quantitative, economic and time. Budget has been defined in different ways by authors and authorities concerned. Among the more accepted definitions is the one by the institute of cost and management accountants (ICMA) which defines budgeting as “a financial and /or quantitative statements, prepared and approval prior to a defined period of time, of the policy to be pursued during that period for the purpose of attaining a given objective. It may include income, expenditure and the employment of capital.

Hongreen C.T. (1962) defines budget as “a quantitative expression of a plan of action and aid to co-ordination and implementation”. From the above definitions, budgeting could be seen as a quantitative economic plan prepared for a specific period of time for the purpose of achieving set objectives.

2.2 Evolution Of The Budgeting System

What is the most widely used type of accounting system among well managed institutions today is not historical accounting as usually referred to. It is better to refer to it as a budgeting system that includes both expected results and historical or actual results.

Budgeting has come of age. It is become increasingly important and it is all around us. For some reasons however, accountant and managers seen reluctant to give it the respect it deserves. Still, there has been a steady increase in the prominence of budgeting on both non-profit and profit and profit making organizations.

Budgeting appears to have been operating for a considerable time about two centuries. Infact, it was used on the basis of equating revenue with expenditure.

On a smaller scale, the idea of budgeting is familiar with most people who have to balance their earnings with their expenditure. However, it was only during the last eighty years that this vital concept of cost control has been tired and developed in industry since its introduction to industries and commence. However, its adoption gas been spreading rapidly particularly during the last forty-five years and it is true to say that most large organizations in the united State of America, United Kingdom and Europe now operate the system.

In Nigeria today, budgeting is done is done in almost all organizations including higher Institution of learning. A formularized budgeting system is essential for every business organisation. Perhaps, the only alternative to formularized management by Drift. In which case, the management react only to crises.

The growing competition I the market place makes budgeting an invaluable management tool. The management must know where it wants to be at the end of a future period and how it intends to get there. For profit making organisation, it is not enough to know what share of the market the company wants to achieve. That is an objective”. It must also plan to achieve this objective that is “budgeting”.

2.3 Budgetary Control

Budgeting is synonymous with control. It is the end point of the planning process. A budget is a plan expressed in quantitative terms. So like a plan, it possesses the characteristic of objectivity, structurisation and which are more of its probable success. Budget is the stated standard of performance.

Budget is more related to control the planning process. Budget is stated standard of performance; its preparation is in erect, setting standards which is the first step in control process, the measurement present performance against standard. The second step on control process is facilitated because the budget expresses standard of performance in quantitative term i.e. Naira value.

Deviation form budgeted or expressed returns are reality identified and show the need for corrective action. The last step in control process, budget improves not only control but also co-ordination. The primary purpose of budget are better planning and improved co-ordination and to provide the basis for control.

The institute of cost and management Accountants defined budgetary control as “The establishment of budget relating the responsibilities of executives to the requirement of policy and the conterminous comparison of actual with budgeted results either to secures by individual action, the objective of the policy or to provide a basis for its revision”.

Budgeting control is the process of comparing the actual results, with the planned performance and highlighting variances which can then be analyzed by cause and responsibility.

The budgets establish the responsibility of each executive of redefined budget centre and because the decision of the executive may affect the achievement of the target set for his centre, he is usually held responsible for the achievement of the budget for his centre.

However, not every factor which can impact on the achievement of the plan is within the control of the executive. In comparing the achievement with the budget, greater emphasis is placed on the those factors that are within the control of the executive, he is held accountable for these controllable, cost, he has to explain reasons for deviations and prepared action plans to remedy the situation or prepare a plan for the revision of the budget.

When such deviations are highlighted, management is saved the time of going through masses of budgetary control data. Management concentrates on those areas that are not moving according to plan. That is management by exception:

2.3.1 Advantages Of Budgetary Control

As can be seen form the definitions of budget and budgetary control, a budget charts the course of the business for a given period while budgetary control put the gingers of management on the pulse of the business over the budget period.

In addition, the following advantages could be claimed for a formularized planning and budgeting control system.

(i) Budgeting control involves forecasting, so management is forced to examine critically every factor likely to impact on the achievement of planned objectives and to ensure that the necessary precautionary measures are taken well in advance.

(ii) The ability to forecast the future is an essential quality of any good manager. Budgeting forces management to be forwardlating so must improve the manger’s skills.

(iii) Managers make best use of information through their ability to refer to experience and knowledge. As managers are made to participate fully in the preparation of the budget, they require and accumulate knowledge about their function to which reference could easily be made during decision-making, thus improving the quality of their decision making.

(iv) As a motivating factor, the executive will strive to achieve budget target which have been set with his full cooperation as his success or otherwise in the organisation depends to a great extent on his achievement.

(v) As the cost budget represent the management best judgment of the various cost elements for the budget period, they form a sound basis for cost control.

(vi) One of the basic functions of management is co-ordination. Budgeting assists management to achieve this goal. Co-operate objective and policies are set and objectives and policies are set and objective for achieving the total corporate goals are also set.

2.3.2 Disadvantages Of Budgetary Control

i. Lack of flexibility – some budgets are prepared without devote flexibility to allow unexpected situation which may arise during the period of the budget. They are so fixed and tight that they become an end in themselves rather than serving as a means of controlling operations, the budget controls the manager.

ii. Resistance to control – some managers regard budgetary control as unnecessarily restrictive and an indirect way of curtailing their authority rather than seen budget as a means of improving performance and achieving corporate objectives. They regard, budgeting as a witch hunting exercise. They adopt a protective stance on their budget centre and resist anything which attempts to bring it into harmony with other centres.

2.4 Types Of Budgetary System

In this part of the chapter, the researcher will present some of the basics types of budgetary system likely to be more useful to Federal polytechnic Okoh I particular and to other higher Institutions of learning in Nigeria.

2.4.1 Incremental Budgeting System (IBS)

As the name implies, this is a budgeting system, which seek to inflate the current budge based on the general inflation percentage over the previous budget.

Incremental budgeting is a system whereby the current years budget is based on the general implantation percentage over the previous budget.

Incremental budgeting is a system whereby the current year’s budget is based on last year’s budget; but with a percentage increment to take care of price changes. For instance, if an institution budgeted the sum of Ne.5 million last year, it may decide to increase the total budget by 35% to N3.375 million.

It is one of the most popular budgeting systems not only in institutions of higher learning but also in corporation profit making organizations.

It is also one of the oldest budgeting systems available today. Most budgeting systems are a development and improvement over incremental budgeting.

However, for incremental budgeting to be successful, the general price trend was to be monitored. This is because the rate of inflation will have to be determined and a forecast made of the expected price in the near future. These are what make incremental budge a success.

Advantages Of Incremental Budgeting System

(i) One of the advantages of incremental budgeting is that, it is simple to adopt and use. The calculation of the increment is simple. It does not involve sophistication mathematical models.

(ii) Another one is that because it is simple, it departments.

(iii) It can be used in conjunction with other systems with flexible budgeting, fixed budgeting, programme planning budgeting system etc.

(iv) Incremental budgeting is widely accepted in both the public and private sectors of the economy.

Disadvantages Of Incremental Budgeting System

(i) Incremental budgeting is not dynamic because it does not take many conditions into consideration. It assumes that there is a price differential which it is based upon to produce there are other conditions which change without being taken into consideration e.g revenue base of the institution may be drastically affected. Even management policy of an institution may have to be considered before budgeting.

(ii) Incremental budgeting is not scientific and is opened to arbitrary observations, which are not capable of precise statement of fact. Since there are no scientific models to determine the general trend. It is less acceptable as a tool per planning and control by management.

(iii) It creates room for slack to be built in the budget. This is because since there is a general increase over and above the last budget, there will certainly be some aspects which will not need the increase but will benefit because it is general

(iv) It does not guide management in the control of cost. This is because there is a ready made answer of inflation for any variance noted in the budget.

Based on the advantages and disadvantages, it is recommended that incremental Budgeting system should not be used in isolation of the budgeting systems.

2.4.2 Zero Base Budgeting System (ZBBS)

When budgets are being drawn up for future years activities, one of the major problems is caused by using the previous years data as the basis.

In this way, past inefficiencies in both spending and operating can be carried through for many years into the future and can often encourage wastage and inefficiency. To overcome this, a system is needed where past results are disregarded and only future costs considered.

T. LUCY (1985) defined zero bases budgeting as “a method of budgeting where by all activities is re-evaluated each time a budget is formulated. Each functional budget starts with the assumption that the function does not exist and is at a zero cost. Increment of cost is compared with increment of benefits cumulating in the planned maximum benefit for a given budget cost”.

In such public sector areas where priorities of service must be established and paid for out of a given fund, zero-base budgeting can assist the management in deciding what level of service to provide and at what cost in situations where to provide extra service will cost more or to reduce the service will result in a saving.

Within government departments, including Federal Polytechnic, Okoh zero-base budget are useful in deciding which long-term projects should be contained and which should be abandoned especially where long-term projects cost increase above budgeted amount because of inflation, design modification and technological improvement.

Implementation of Zero Bases

It is important for the implementation of a zero-base budget system that an inquisitorial attitude is developed by all those concerted with both the implementation of such a system and its subsequent operation.

Existing practices and there related expenditure should be examined as follows:-

(1) Is the activity essential? If so, what are the objectives of the activity to what extent are they achieved, how is such achievement measured and what if any would be the effect of activity leasing?

(2) Is the activity necessary in long term and if so, how will it contribute to the overall organizational objective?

(3) Is the provision of the activity at the correct level and is activity being provided in the best possible way?

(4) Do the benefits that occur from the activity outweigh the cost of providing it?

i. Each of these activities or areas must be described in a decision package. This should identify costs and results expected, given basic assumptions such as forthcoming activity level and wage increase and the consequences on the organisation if the activity were not performed.

ii. Each division package should then be evaluated and ranked. This will normally be done on the and ranked. This will normally be done on the basis of their costs and benefits to the organisation.

iii. Resources available can then be allocated according to the ranking and evaluation of the various packages.

Advantages Of Zero- Base Budgeting

i. It enables the organisation to avoid wasteful expenditure. When activities are evaluated as zero-base, it is meant to justify every item in the budget.

ii. As the participation of management at all levels is involved in the process, this should increase management motivation and sense of belonging.

iii. Communication within the organisation in improved.

iv. The attention of management is focused on organizational objectives and goals as well as the future rather than the past.

v. It ensures that the best possible method of performance is used and that resources are allocated on the basis of need and benefit.

vi. New ideas may be generated since all decision packages are subjected to evaluation and criticism and to replace condemned decision.

Disadvantages Of Zero-base System

i. Zero-base budgeting is time consuming and wasteful and therefore costly.

ii. Short-term benefits may be emphasized to the detriment of long term benefits.

iii. The ranking of packages may be subjective where the benefits are of a quantitative nature.

iv. The budgeting process may become too rigid, and the organisation may not therefore be flexible enough to meet sudden changes either favourable or unfavourable.

Zero – Base budget is not a technique to replace conventional budgeting but used successfully.

By using Zero-base budgets, federal polytechnic, Okoh and other higher institutions of learning in Nigeria will be able to keep three important concepts of economy, efficiency and effectiveness under review and identify the key priority in the pursuit of value for money.

2.5 Ormular Budgeting System (FBS)

This is a system whereby defined bases or rations are available and they form part of the budgeting system at all stages. Example may be that expenditure on academic activates should be 60% while non-academic activities should be 40%. Also that 15% of non-academic staff requirement should be junior staff etc.

It should be noted that the formular system is widely accepted by the National Universities commission and is expected to be used by Nigerian higher Institutions of which Federal Polytechnic, Okoh is one.

The formular system is the most unique system of budgeting and ait advantages include:-

1. Mathematical precision, logical, rational and objectivity,

2. Control of excess political influence (assumed equity shares/fair sharing).

3. Justification of unit cost through adoption of ratios.

4. Efficiency, accountability and evaluatory measures can be done with relative ease.

3.1 Research Design

In carrying out this study, a case study research design was employed to review budgeting in higher institution of learning in Nigeria. Descriptive research design gives a future of a situation with a full understanding of the phenomena for making a wide range of policy decisions.

However, this study is particularly geared towards budgeting in higher institution of learning in Nigeria.

3.2 Area Of Study

The area of this study is the federal polytechnic Okoh, it is one of the polytechnics established in 1992. it was established to train manpower in area of technology, applied science , commerce and management .the permanent site of the polytechnic is situated along Okoh –Ekoulobia Road Okoh and occupies an area of about three hundred [300] hectares . It was formerly in Aguata local government area, but now in Orumba local government area of Anambra State.

3.3 Population Of The Study

The populations of the study were made up of staff strength of 138 comprising 45 senior staff and 93 junior staff. Most of the staff has been working with the polytechnic since its inception.

3.4 Sample And Sampling Procedure

Several methods have been devised for selecting samples that will be representative of the population to be studied. But for the purpose of gathering data and information needed for the project. The samples used were;

i. Random sampling ii. Stratified sampling network.

These sampling methods were used on the staff of the federal polytechnic okoh , Stratified sampling method was used on the sample of middle and top level staff who are 20 in number

The sample got were good representative of the population. The information and data so collected form the questionnaire were organized and presented in word statement and not in statistical form.

3.5 Instrument For Data Collection

Data collection is through the administration of questionnaire where the researcher will have a question and answer session with the staff of the institution or with any other person who has a specific knowledge of the topic of the study .It should be noted that interviews may be formal or informal. Formal in the sense that the person to be interviewed will be informed of the purpose of the discussion with him and give him an opportunity to know exactly what are to covered. Inform al interview generally result where the researcher is being denied the opportunity of some desirable or where he feels he will get a more balanced view of the situation of state.

In any case both formal and informal interviews were good sources of information and data collection for this research work.

Furthermore, since the topic requires a review the researcher uses extensive theoretical work to arrive at conclusions.

3.6 Validation Of Instrument

Professional was used to validate the instrument. The professional was the project supervisor who went through the questionnaire item. In this case the structured pattern of the questionnaire, which provides objective options of responses for the respondents coupled with their co-operation, shows confidently that the questionnaire succeeded in measuring what is set out to measure.

3.7 Reliability Of Instrument

To determine the reliability of the research instrument the measure of stability was employed in the study. The structured questionnaire was administered to fifty audit and finance depts. staff of the federal polytechnic okoh. And after two weeks, the same instrument was administered to the same respondents. a test – retest reliability estimate was used in correlating the first band second score after this administration of the instrument using person product moment co-efficient value of 0.7222 and 0.8777 obtained indicated the series consistency overtime and therefore the reliability of this research instrument .

3.8 Method Of Data Collection

This is a system whereby a researcher will have a question and answer session with staff of audit and finance departments of the institution concerned. And for the purpose of comparing the theoretical discussion carried out previously with the actual situation, the audit and finance depts. of the institution was visited. The method of data collection applied was through the administration of questionnaire to various personnel who are in audit and finance depts. More especially the senior staff of the departments, this was done to ensure that the caliber of respondents answered the question, since the information needs are highly classical which only staff , that are well exposed could provide .

Presentation And Analysis Of Data

The data collected from the Federal Polytechnic, Okoh are presented and analyzed as stated in the tables shown below:

4.1 Data Presentation, Analysis And Interpretation

Questionnaire administered

TOTAL %

Questions administered 50 100

Questions returned 22 44

Questions not returned 28 66

TOTAL 50 100

Fifty (50) questionnaires representing 100% were distributed, out of which, twenty two (22) representing 44% were properly filled and returned while twenty eight (28) representing 66% were not returned.

Question Number One

Do you prepare budget?

Table 2

Variables Response %

Yes 18 81

No 4 19

22 100%

In question one (1), twenty two responses representing 100% were returned eighteen (18), (18%) agreed that budgets are prepared in Federal Polytechnic, Okoh while 4 (19%) did not agree that budget is been prepared in Federal Polytechnic Okoh.

Question Number two (2)

Who are responsible for preparing budget?

Table 3

Variables Response %

Budget Committee 12 55

Development Heads 10 45

Appointed Officers – –

22 100

In response to question two, 12 (55%) of the respondents said that preparation of budget is the responsibility of budget committee while 10 (45%) of the respondent said that preparations of budget is the responsibility of the department heads.

Question Number three (3)

To what extent do you the junior employees participate in the preparation of budget?

Table 4

Variables Responses %

Fully – –

Partially 8 36

None of the above 14 64

22 100

Response to question three, 8 (36%) said that junior employees participate partially in the preparation of budgets while 14 (64%) said that the employees do not participate at all in the preparation of budget.

Question Number Four (4)

Do you normally meet your budget estimate?

Table 5:

Variables Responses %

Yes 10 45

No 12 55

22 100%

Responses to question four shows that 10 (45%) of respondent agreed that estimates are normally met while 12 (55%) said estimates are nor normally met.

Question Number 5

Do you strictly adhere to the budget estimate?

Table 6

Variable Responses %

Yes 10 45

No 12 55

22 100

Response to question five shows that 10 (45%) of respondents agreed that estimates are normally meet while 12 (55%) said estimate are normally met.

Question Number 6

When do you receive reports on performance?

Table 7:

Variables Responses %

Monthly – –

Quarterly 17 77

Yearly 5 23

22 100

In response to question six, 17 (77%) of respondent said that reports on performance is received on quarterly basis and 5 (23%) of respondents said reports on performance are receive on yearly basis.

FINDINGS

The study of “budgeting in Federal Polytechnic, Okoh” was really a stimulating exercise.

The study exposed the researcher to many problems facing Federal Polytechnic Okoh, especially on the techniques used in controlling the budgeting system.

The interview questions and questionnaire should serve as the basis of the test, which the answers to the questions thrown to officers in the Federal Polytechnic, Okoh will be the for drawing a conclusion for the study.

It was revealed in the researcher’s Findings through questionnaire and personal interview carefully conducted that Federal Polytechnic, Okoh basis her budget on:

(a) The budget plans within the budget period, that is action plan.

(b) The Federal Government Policies and plans within the budget period.

It was discovered from the findings that the departments, which needs improvement, are given the maximum consideration or priority in the budget.

It was also discovered that there is no control on performance, which normally results in adverse variance.

5.0 DISCUSSION, RECOMMENDATIONS AND CONCLUSION.

5.1 DISCUSSION OF FINDINGS

In chapter one, the researcher first introduced the research work, and a through background of and history of budget was traced. It was revealed that all organisation including higher. It was also discovered that a budget serves the dual role of being a plan as well as being a control device.

Chapter two dealt with the review of literature related to the project work. Hence the evolution of budgeting was reviewed. It was discovered that budgeting has been in operation for the past centuries in U.K.

The concept of budgeting control was also dealt with and states that it is a system of budget, which relates the responsibilities of management to the requirement of a policy. When this is done, actual result was compared with the planned performance and variances were highlighted for corrective action to be taken.

Chapter three gave different methods employed by the researcher on collecting information. These methods range from interviews to extraction from documentary records and questionnaires. All these were aimed at conducting a through research on the confusion surrounding the operation of the budget system.

5.2 IMPLICATION OF THE RESEARCH FINDINGS:

The findings of this study “Budgeting in higher instructions in Nigeria uses have some important educational implication.

The findings could be useful to the board of Governors of the polytechnic in its efforts to steer the institution towards achieving the set objectives.

It can also be useful to the National Board for Technical Education (NATEB) in its Budget allocation to the Federal Polytechnic, Okoh and the similar institution.

Thirdly, it will broaden the educational horizon of the researcher on issues concerning budgeting. It can provide a means of determining the responsibility of all departure from plans and will supply information on the basis of which the necessary corrective action may be taken.

Lastly, it will also be of benefit to students carrying out research on related topics.

If the meaning of a budget as given in the literature review is anything to go by, that is, “it is a plan of the Federal Polytechnic, Okoh’s expectation in the future in terms of income and/or expenditure to be insure during a period and the capital to be employed to attain a given objectives”. Then the researcher is confidently of the review that, budgeting is important to the Federal Polytechnic, Okoh.

In conclusion therefore, budgeting is indispensable if the Federal Polytechnic, Okoh and similar institutions in Nigeria is to accomplish the goals for which they were set up.

5.3 RECOMMENDATIONS:

The following recommendations have been made in the light of the findings and the discussions, which have been highlighted earlier.

(i) On the confusion as to the purpose of Budgets Vis-à-vis the goods and aspirations of an institution which stems from lack of adequate knowledge why budgeting is necessary in our higher institutions, it is therefore recommended that adequate enlightenment of heads of departments as to the purpose of budgets should be carried out. This could take the form of workshop, seminars and lectures where people vexed in budget preparations and purpose will be given the opportunity of educating heads of departments on the necessity for budgets in their departments. This, if done, will go a long way in erasing the confusion as to the importance of budgets.

(ii) Budgets generally are a plan of an institution’s expectations in the future; therefore, if they are to be understood by all goods of each budget must be spelled out clearly and in details. It is when this is done that the document will be understood that it can be well implemented. It therefore follows that our institutions should recruit budget officers who have a good knowledge of management accounting and who exhibit a good understanding and well experienced in the art of budgeting. It is only when this is done that goals will be clearly set out for all to understand and implement.

(iii) In appropriate method to be used, we have analyzed about four budgeting systems which may be used by any methods can not used independently.

All methods can not be used independently. one system of budgeting which could be used independently is incremented budgeting system, but it has the greatest advantage by being unscientific.

As said earlier, Zero Base budgeting are not a technique to replace conventional budgeting but could be used to improve the problem of budgeting. One system, which seem to be so far widely acceptable system is the formular budgeting system. It has the advantage of being mathematically precise, that is, it is a scientific method.

For its acceptability so far, the researcher is of the view that, it may be a good system to implement by successfully with zero budgeting system, which is budgeting from base-zero to reduce and justify all cost.

In conclusion, therefore, the researcher hereby recommends the use of formular budgeting system for budgeting purposes in Federal Polytechnic, Okoh as well as other institutions of higher leaning in Nigeria

5.4 SUGGESTION FOR FURTHER RESEARCH

This project work has not claimed to have exhausted all the necessary information needed in the topic “Budgeting in Higher Institution Learning in Nigeria. The following suggestions needs further investigation:-

(1) The need for budgeting in our higher institutions of learning in Nigeria.

(2) The problems that hinders the attainment of the goals or objectives of Budgeting in out higher institutions in Nigeria.

5.5 LIMITATION OF THE STUDY

It is a well-known fact that every activity undertaken in this world has some limiting factors, the solution to the limitations being therefore to try and eliminate or minimize them as much as possible.

The project, despite being a reality, is not an exception to the assertion. It is the aim of the researcher to highlight in this section the limitations of this project work.

(i) One of the principal constraints towards the conduction and production of this research work was finance; since collection of data and information required a lot of traveling from one place to another, the researcher needed money for her transportation cost which is at highest cost in the present times. This as a matter of fact, gave him a lot of problems.

The production of the report itself needs that one should be financially okay in order to meet the cost of stationeries, typing and binding, with the current market rate of inflation in the economy, this was a natural limitation to the production of the project.

(ii) Time factor was another imitating factor of this research work. The period within which the researcher was to conduct the research work. The period within which the researcher was to conduct the research and produce a comprehensive report was extremely short; this made him to have so many sleepless nights.

(iii) Another serious limitation of this project work is- the researcher lack of access to some desirable records at various higher institutions. These records are those classified as “Confidential”. The refusal of the staff of the institutions to let the researcher have a look at them with all these limitations in mind, the researcher hereby bears full responsibility for any shortcoming in this project work.

QUESTIONNAIRE

1. Your Department………………………….. Status……………………

2. Do you (institution) prepare budget? Yes No

3. Do you (institution) normally meet your budget estimate?

Yes No

4. Who are responsible for preparing budget?

(i) Budget Committee

(ii) Department Heads Tick as appropriate

(iii) Appointed officers

5. To what extent do the union employees participate in the preparation of budgets?

(i) Fully

(ii) Patially Tick as appropriate

(iii) None of the above

6. Do you strictly adhere to the budget?

Yes No

7. Do you normally have adhere variances? Yes No

8. How do you receive reports on performance?

(i) Monthly

(ii) Quarterly Tick as appropriate

(iii) Yearly

9. Is there any control on performance? Yes No

10. If yes, please state how..……………………………………………………………………

11. Do you have budget manual for the purpose of budget control?

Yes No

12. Is your budget subject to changes? Yes No

Budgeting – A Review Of Higher Institutions In Nigeria

 

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