Budgeting and budgetary control as a tool for effective management in oil companies - a case study of Nigeria Agip Oil Company, Portharcourt Department: Banking and Finance By: Arinze1 Project ID: 5185 Rating: (3.3) votes: 6Rate this project12345 Price:₦2000 Get the Complete MaterialAbstractThis research was undertaken to ascertain the budgeting and budgetary control in oil companies as they exist in Nigeria Agip oil company, port-Harcourt. It is with a view of determining and highlighting the existing uses, relevance, effectiveness and operational modes of the budgetary control system. The researcher sued two study tools questionnaires and interview methods. For the interview, some management staff was interviewed while about ten questionnaires were administered. However, only eight were actually returned and analysis was based on this. For the analysis, the single percentage was used while the chi-square method of data was also used to analyse the hypothesis. Based on the findings, the researcher reached a conclusion that the inability of the company to execute its planned objective is because of the weakness in the budgetary control measures. Therefore, it is the researcher's intention that the company should improve in the budgetary control system which provides effective management at each level of the organization. This is not only recommended for the company alone but for some other companies. Based on the conclusion, the researcher recommends that the company should: Take immediate actions for any deviation and the causes of such deviation promptly and thoroughly investigated. Be concerned with the day-to-day planning and other operational activities. Set up standards in which every department would attain. Be able to recognize the difference between budgeted results and actual results and take corrective action as soon as possible. Make enough provision for contingencies. ...Preview Download Preview +Other Banking and Finance project topics and materials you might be interested in»The role of central bank of Nigeria (CBN) in the development of Nigeria financial sector»Appraisal of the economic implication of electronic banking in Nigerian banks (A case study of diamond bank)»The impact of strategic planning on banks performance in Nigeria (A case study of united bank for Africa plc)»Evaluation of the impact of liquidity management on banks performance in Nigeria ( A case study of UBA )»The roles of central bank of Nigeria in the prevention of bank failure or liquidation (A case study of central bank of Nigeria 2005-2009)»The role of financial institutions in promoting banking habit and saving capital formation in Nigeria»The effect of electronic banking on fraud reduction in bank (A case study of access bank plc)»The effectiveness of monetary policy measures in controlling inflation in Nigeria»Problems and challenges facing finance houses in the Nigerian economy ( A case study of mortgage bank owerri )»The role of deposit money bank in Nigeria in economy development in Nigeria - a case study of Access Bank Plc»Motivation as a way of reducing fraud in banking industry ( A case study of UBA and Fidelity bank )»The impact of insurance industry on the economic growth of Nigeria (A case study of nicon and hallmark insurance companies 2005-2009)»Identification and management of bad debts in Nigeria commercial banks(A case study of UBA plc)»The contribution and effect of computer to modern day banking in Nigeria (A case study of zenith bank and first bank plc)»The use of accounting information in assessing control and performance in an organization (A case study of first bank of Nigeria owerri)