An introduction to a budget a management tool

Unfortunately, many people think of budgeting as depriving themselves and they avoid it like they do a diet. However, just as a diet is really a program for eating, budgeting is just a program for spending.

An introduction to a budget a management tool

Volume 3, Issue 5, SeptemberPages: Kwaning To cite this article: Journal of Finance and Accounting. The study examined the budgeting and budgetary control as a management tool in Ghanaian Metropolitan Assemblies with the view to find out the importance attached by metropolitan, municipal and district assemblies in Ghana to how budgets are prepared and implemented, benefits and problems associated with budgeting and the extent at which budget variance reports are used as a performance measure.

The survey instrument was questionnaire. The findings of the study revealed that, metropolitan assemblies prepare budgets and plans to guide their activities and operations and that there is generally a high level of budget participation.

Budget Preparation Checklist | Process Street

The major conclusion was that metropolitan assemblies use a rigorous budgetary control practices in its operations and attaches much importance to budgets and budgetary control as vital tool to aid them in effective and efficient management of their operations. It is recommended, among other things, that appropriate measures should be put in place to enable all the assemblies in Ghana prepare plans and budgets since the practices lead to effective utilization of state resources.

An introduction to a budget a management tool

Preparation Process of Budget and Budgetary Control 2. Benefits of Budget and Budgetary Control 2. Challenges Associated with Budgeting and Budgetary Control 3. Data Sources and Methods of Collection 3.

Research Design and Instruments 4. Results and Discussions 4. Budget Planning and Preparation 4. Budgets and Budgetary Control Problems 5. Introduction According to Amoako-Gyampah and Acquaah, [1], results are important for Ghanaian local governmental organizations.

Nowadays Ghanaian metropolis, municipalities and districts often underline the importance of specific, measurable and accountable organizational results. Examples of the importance of results are easily found. Many Ghanaian cities are currently involved in programs to increase the focus of the organization on results, and are increasingly using results in contracts or formal agreements with other governments, and are referring to results in their communication with the press.

The use of budget and budgetary control measures by Ghanaian local government is certainly not just of recent date. Governments have always used budget and budgetary control measures to plan and control its activities or its intended results.

These early governmental organizations, established to ensure some level of collective protection against human and natural disasters, are not of course comparable with our modern metropolis, municipalities and districts. Governments then were in essence boards of executives, with the authority to collect taxes and to temporarily recruit inhabitants for performing specific tasks.

Nowadays, metropolis and municipalities are often large organizations, with a wide variety of tasks, providing a large number of products and services both to the general public and to specific citizens," in reference [1]".

Hence, the reason for this research work which is to investigate the question; "what is the budgeting practice in Ghanaian Metropolitan Assemblies GMAs? They concluded that though BCS could play a leading role in establishing an efficient MCS for creating a sustainable competitive advantage, budgeting will not function in isolation.

Locating the study outside the profit organizational context fills a void pointed out by prior researchers Chenhall, [3]. Previous studies on the roles of accounting information and budgetary control measures have been more focused on profit organizations Davilla, [4], or on health care organizations Abernethy and Brownell, [5].

Studying local governmental organizations can address some specific characteristics of government and their possible impact on budget and budgetary control measure use.

Frequently recalled characteristics specific to local government are, for instance: According to Bradstreet reports [7] on budget and budgetary control, and business failure aptly summarizes that failure of many businesses these days emerges from the fact that budgeting and budgetary control that is the bedrock of any vibrant and successful business or organization is weak or absent.

In the light of these gloomy pictures, the researchers deem it prudent to research into the problems at stake as whether the existing metropolitan, municipal and district assemblies in Ghana can achieve their objectives with or without effective budgeting and budgetary control systems and, moreover, find out the reasons for budget failure in organizations where budgetary control is practiced.

Preparation Process of Budget and Budgetary Control The process of budgeting generally involves an iterative cycle which moves between target of desirable performance and estimates of feasible performance until there is, hopefully, convergence to a plan which is both feasible and acceptable Emmanuel, Otley and Merchant, [8].Budget Management Introduction The FY19 budget process seeks to improve coordination across business units and departments, align proposed investments and cost reductions with each other and within the overall strategic plan, and drive consistent evaluation by senior leadership.

Budgets and Budgetary Control as a Management Tool for Ghana Metropolitan Assemblies. Edmund Kyei 1, Collins Owusu Kwaning 2, *, Donkor Francis 1. 1 Department of Accountancy and Accounting Information Systems, Kumasi Polytechnic, Kumasi, Ghana.

2 School of Business and Management studies, Accra Polytechnic, Accra, Ghana. Email address. Introduction: Preparing a budget can be a long and arduous process, but it doesn't have to be. By efficiently gathering all of the information you need and A well-prepared budget is an effective management tool as it enables you to see if you are on track to .

Budget – a perfect management tool? 1 1.

INTRODUCTION The initial phase of this dissertation discusses the budget and its functions. The budget has been accused for causing several problems in . • Budget Process Tools: Introduction to CalPlanning Presentation • Unit Profile • FY Budget Process High Level Timeline Job Aid -TBD • Training Evaluation.

Chapter 2: Introduction to Budget – Planning and Control Budget: Planning, Control and Organizational Performance Among Public-Listed Companies in Malaysia emphasizing on the budget as a management tool, forming an integral and a necessary part of organizational stewardship.

An introduction to a budget a management tool

The second Chapter 2: Introduction to Budget – Planning.

Budget Management | UCSF Health Finance