ABSTRACT
This topic was designed to highlight the importance and prominence budgeting in a very dynamic economy like ours as well as the difficulty to forecast the rate of inflation with accuracy and the problem posed by changing price level and how these problems are addressed in making budgeting decisions.
Highlighting the advantages as well as he problem associated with budgeting will enhance the managers skill and ability in the preparation and implementation of budgets. They will also see the correlation between budgeting and success as well as appreciate it students on the dynamics, complexities and mechanics of today’s business decision making. a part from making some contribution to knowledge, the study would also add to the existing. Finally, the study is significant as it is in partial fulfilment of the polytechnics requirement for the award of Higher National Diploma (HND) in Accountancy. This study report is five chapters. The first chapter introduces the topic, present the nature of the problem, the objective of the study significant of the study, the significant of the study the scope of the study as well as statement of hypothesis. The chapter also given a brief history of the company and the aware ship structure. Hence the first chapter serves as a prelude to the main study.
The second chapter examines the work of the other people on the study. Review is divided into sections top cover areas like of meaning and purposes of budget and the techniques of the data treatment will be explained and the limitation to which we are subjected in the data treatment. The data collected will be analyzed and discussed so as to develop our findings in the context of the purpose for which the study was conducted chapter four.
Here, the statement of fact in connection with the study will be made. The finding of the study will determine whether the hypothesis were true or not.
Finally, in chapter five, statement of findings is made, conclusion are draw remarks and recommendations based on the study are made.
TABLE OF CONTENTS
Title Page II
Approval page III
Certification IV
Dedication V
Acknowledgement VI
Abstract VIII
Table of contents X
CHAPTER ONE
1.0Introduction 1
1.1Background statement 1
1.2Nature of the problem 3
1.3Statement of hypothesis 5
1.4Objective of the study 6
1.5Research question 7
1.6Significance of the study 8
1.7Scope of the study 9
1.7.1Brief history of the company 10
1.7.2Ownership structure 11
1.8Organisation of the study 11
1.9Definition of terms 12
CHAPTER TWO
2.0Review of related literature 16
2.1Introduction 16
2.2Meaning and purpose of budgeting 21
2.3Types of budgeting 23
2.3.1The operating budget 23
2.3.2The finance budget 26
2.4Stamps in preparing budget 28
2.5Techniques of budget 29
2.6Meaning of inflation 31
2.7Rates of inflation 32
2.8Types of inflation 33
2.9Pos and cons inflation 35
2.10causes of inflation 36
2.11Control of inflation 39
2.12How Binez Hotels Ltd, Aba take care of inflation in
their budgets. 40
2.13Budget planning implementation and control in Binez Hotel Ltd. 41
2.14Types of budget prepared in Binez hotel 42
2.15Budget preparation implementation and control procedures in Binez Hotel Ltd. 43
2.16Data presentation, interpretation and various analysis. 45
2.17Summary 45
CHAPTER THREE
3.0Research design and methodology 47
3.1Research design 47
3.2Area of study 48
3.3Determination of sample size/population 48
3.4Sample and sampling procedure 49
35Types of data used 49
CHAPTER FOUR
4.0Data presentation and analysis 53
CHAPTER FIVE
5.0Findings, recommendation and conclusion 67
5.1Introduction 67
5.2Recommendations 69
5.3Suggestions for further research 70
5.4Summary/conclusion 71
Bibliography 72
Appendix 77