Exploring the Effect of Budget Preparation on the Achievement of Organizational Goals
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SAUT
Abstract
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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 MWAUWASA, assessing the trend of budget performance of
MWAUWASA from the year 2017-2019, 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 45 respondents from MWAUWASA-Headquarter.
Questionnaire and interview were used to collect data.
Data was presented into tables, graphs and charts for easy analysis and discussion of
the 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 MWAUWASA 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
MWAUWASA 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
Keywords
Budget Preparation