In virtually all fields of human endeavor budgeting is the most commonly performed routine. Most members of households have at some time developed a financial plan to guide them in allocating their resources over a specific period; usually the plan reflects spending priorities and on how money is to be spent in the family. An enterprise, especially small and medium scale enterprise, especially small and medium scales enterprises, uses budgeting as a means of coordinating the various activities and functions of an enterprise with the aim of realizing the enterprise objectives. To that extent budgeting can be seen to be tool for enhancing the performance of the enterprise. Managers make budget in order to achieve the goals and objectives of an organization.
The presentation and analysis of data collected through questionnaire, result of the study can be summarized as follows:
i. Budgeting system improves the performance and effectiveness of SMEs.
ii. Computer system improves the performance of budgeting in SMEs.
iii. There is relationship between capital budgeting and SMEs performance
iv. The competence of financial managers determines the effectiveness of budgeting.
v. Budgeting procedures need to be properly monitored and controlled to make it effective.
Please tick as appropriate
1. Gender: Male ( ), Female ( ).
2. Age: 18-24 ( ), 25-34,( ), 35 and above ( ).
3. Educational Qualification: WASSCE/GCE ( ), ND/NCE ( ), HND/B.Sc. ( ), M.Sc./MBA ( ).
4. Positions: Manager ( ), Officer ( ), Supervisor ( ), Secretary ( ), Others ( ).
5. Years of Employment with the organization: 1-5 years ( ), 6-10 years ( ), 10 years and above ( ).
Please indicate to what extent you agree or disagreed by ticking as appropriate the opinion representing your opinion.
1. Is budgeting practicable in SMEs?...