BUDGETING AS AN IMPORTANT INSTRUMENT IN MANAGEMENT DECISION MAKING
This project is concerned with budgeting as important instrument in management decision making. It sought to establish the extent to which budgeting in employed in decision making. Through medium of questionnaires and interview, data was collected from various organisation. An analysis was carried out using the statistical method of chisquare. From the analysis, it was revealed that budgeting is an important decision making instrument in an organisation and that budgeting dose not have a positive relationship with the objective and goal of an organisation unless the management of any organisation make a realistic and alienable decision. From the research efforts, it is obvious that more emphasis should be placed on budgeting to enhance more effective operation of various organisations in Nigeria.
The chartered institute of management accountant CIMA defined budget as plan qualified in monetary term prepared and approved prior to a defined period of time, usually showing planning income to be generated or expenditure to be incurred during that period and capital to be employed to attain a given objectives.
Management decision making is all pervasive activity taking place at every level in the organisation covering short term and long term decision.
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