FINANCIAL RATIOS AS AN AID TO MANAGEMENT DECISION-MAKING BUDGETING AS A TOOL FOR PLANNING AND CONTROL IN A MANUFACTURING INDUSTRY (A CASE STUDY OF NIGERIAN BREWERIES PLC ENUGU).
This research work was focused on investigation on the use of budgeting as a tool for planning and control in topical manufacturing industry like Nigerian breweries plc, Enugu.
The objective of the study is to show the important of budgeting as a tool for planning and control in operation of a manufacture industry which has profit maximization as its principal objective. The research also aims at identifying the procedures adopted in the formulation of annual budgets of Nigerian Breweries plc.
Based on this, the following hypothesis was formulated for the study. The hypothesis include:
(1) Managers use budgeting as a tool for planning and control in attaining the goals of the business.
(2) Decision-making is performed in a manufacturing industry using budgeting.
(3) Utilization of resource is achieved with the use of budgeting and budgetary control
Following the investigation and analysasion of the data, the following finding were made:
(1) The organization uses budgeting in achieving their goals and objectives.
(2) The main objective of the organization is maximization of profit.
(3) Efficiency and effectiveness of the organizations operation is enhanced through the use of budgeting etc.
From the finding, the conclusion were arrived that budgeting is a very essential and indispensable tool for planning and control. It helps management to be well structure in sustaining the growth and expansion of the organization