Assessment of the budget and budgetary control in enhancing financial performance of an organization: The case of TANESCO
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Date
2014
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Publisher
Mzumbe University
Abstract
The study aimed at assessing budget and budgetary control in enhancing financial performance of an organization. Specifically the study focused on identifying the budgeting process of TANESCO, assessing the trend of budget performance of TANESCO from the year 2006-2012, and to determine the contribution of budget in the financial performance of the company. The study adopted a case study research design as the best way of collecting data and assessing the budget and budgetary control in enhancing financial performance of an organization. The study comprised 80 respondents from TANESO-Headquarter. Questionnaire, interview and group discussion were used to collect data. Data were presented into tables, graphs and charts for easy analysis and discussion of findings. The study findings indicated that budgeting process starts with identification of financial objectives and it end up with monitoring, adjustments and providing feedback for the necessary corrective measures. Also the study indicated that TANESCO is experiencing negative variance in its budget trend for each financial year and lastly the study revealed that budget and budgetary control contribute much to the effectiveness of the organization. The study concluded that in order to enhance the financial performance of TANESCO there must be proper control and management of the organization’s budget. The study therefore; recommended that in order to enhance performance budgetary control need to be done from the beginning of the budgeting process until the end of the budget implementation and formulation of the new budget.
Description
A thesis submitted to Mzumbe University as a partial/fulfillment of the requirements for the degree Masters of Science in Accounting and Finance of Mzumbe University
Keywords
Budget, Budgetary, Financial performance
Citation
APA