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PROJECT TOPIC: BUDGETING & BUDGETARY SYSTEM AS AN EFFECTIVE TOOLS FOR PLANNING & CONTROLLING IN AN ORGANIZATION. (A CASE STUDY OF COCA-COLA BOTTLING COMPANY)

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CHAPTER ONE

INTRODUCTION BACKGROUND OF THE STUDY Budgeting concept is as old as man. We learn from history that the warmly man had to determine what ever he needed in advance before it eventually materialized.This is very obvious in the present day lives of individual of state or a nation. As a nation plan ahead in term of revenue and expenditure within a specified period of time. So also an individual or state conceptualized anticipated revenue and disbursement within a specified period of time.Every establishment, be it public or private when planning, find it necessary to incorporate budget and institute a proper executive for the purpose of translating policies, coordinating activities as well as financial control in order to achieve the last result. Budget planning is the process of preparing detailed short term plans know as budget for the function activities and departments of the organization and converting the long term corporate plan into action.The budgetary process is an integral part of both with planning and control. Too often budget are associated with negative penny pending control activities where as the full process is much broader and more positive than that. Budgeting is about making plans for the future implementing those plans and monitoring activities to see whether they conform to the plan.To do this successfully, it requires full top management support, co-operative and motive middle managers and staff, as well as organized reporting system.The need for control system and performance report has become over more critical in every years as a result of excessive budget restriction even for the manufacturing


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