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AN ECONOMY WIHTOUT A
BUDGET
CHAPTER ONE
1.1
INTRODUCTION
For an economy to achieve it’s goal, it is pre-determined at
it’s effective
performance at the least possible cost. One mechanism to embark it’s budget is the
budget.
The growth of
any organization is determine by planning. Planning helps in deciding ahead of
the future on what to do, how to do it, when to do it and who to do it.
The success of any organization lies on planning. Therefore planning means the setting of
organizational goals and the means of achieving it. An economy without a plan has fail to plan.
Budgeting system guides the planning process.
Definition of Budget:
The Oxford
Dictionary of accounting defines budget as “a financial or quantitative
statement prepared prior to a specified period, contained plans and policies to
be pursued during the period.
The states
budget is prepared by its management and the process involve a higher degree of
complexity than budgets prepared by business organization.
1.2
STATEMENT OF PROBLEM
The problem of Nigeria budget is the delayance, it has been a
problem to those in charge of the formulation of the budget
and the people involve in the implementation.
The delay in the presentation of budget in any organization
affects the economy thereby making it impossible to attain to its goal; thus
guiding on economy to remain stagnant.
An economy without a budget can not operates; if it can, then
how?
1.3 PURPOSE
OF STUTY
The aim of this research is to put implace and view the
management functions of budgeting. In order to underline the view that success
in any economy alies not or occurs by chance, but enhancing a creative instants
the ability to take advantage of opportunities through deliberate planning.
This research
seeks to create awareness about negative impact of an economy without a budget
and to make recommendation. It with also
oblige government into making an early study of it’s problems, signifying and
instilling into the government the habit of careful study before reading the
budget.
1.4
SIGNIFANCE OF STUDY
It is not only preparing of budgets that matter but
implementing it that is of paramount important.
The
government have to address the issue on how to eliminate delayance in implementing
budget. Thus affecting the growth of the economy.
1.5
LIMITATION OF STUDY
As a result of insufficient time and financial mobilization
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