Budgeting and financial performance :
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Date
2019-08
Authors
Journal Title
Journal ISSN
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Publisher
Kampala International University, College of Economics and Management
Abstract
The study was to establish the role of budgeting in the financial performance of KRDC and guided by the following objectives, to examine how budgeting ensures availability of funds in KRDC, to analyze factors that limit budgets from enhancing proper use of finances in KRDC and to establish how budgeting contributes to financial performance in KRD. The researcher used across sectional survey design with the use of questionnaires, interviews and observation to collect data. The findings of the study show that the company practices budgeting
for batter performance and allocation of resources, control income and expenses, it also helps in
planning was the main reason for haw budgeting ensures availability of funds at KRDC, it also explain that lack of funds for the company is one of the factors that limit budgets from resulting into proper utilization of finance, poor technology, fraud of company funds limit budgets from resulting into proper utilization of finance and management policy. Budgeting helps to identify the sources of funds, through budgeting it was revealed that costs are controlled on the firm for better investment. In conclusion budgeting ensure availability of funds in KRDC through planning and when the firm is planning for the financial year or for the purchase of inventory, it
always budgets for the funds, time and the amount of resources to bring into the company with the budgeted funds In conclusion factors limit budgets from resulting into proper utilization of finance were lacks of management support in the company especially financial and advice support, lack of funds for the company is one of the factors that limit budgets from resulting into proper utilization of finance in KRDC, poor technology limit budgets from resulting into proper utilization of finance, fraud of company funds, management policy is also limit budgets from resulting into proper utilization of finance where by most of the policy are not used when
preparing budgets. The study recommends that the company should employee workers who are qualified for
improved financial performance, the management of company should ensure that all departments make budgets for their activities and strictly adhere to those budgets to avoid misuse of finances in the company. The study recommends that the management of company should always conceive and adhere to budgeting in a positive way as it is drafted and follow its contents in the day to day running of the firm activities, the study suggested the following for research, Internal financial control measures and the performance of the company, budget formulation, monitoring, implementation and the performance of the company.
Description
A research dissertation submitted to the college of economics and management in partial fulfillment of the requirement for the award of a Bachelors Degree of Business Administration of Kampala International
University
Keywords
Budgeting, financial performance, Kagando rural development centre