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. [Read more…]