THE IMPACT OF BUDGETARY CONTROL ON THE PROFITABILITY OF BUSINESS ORGANIZATION [A CASE STUDY OF THREE OIL INDUSTRIES

ABSTRACT
Globally, a lot of business organizations have fold-up due to lack of
liquidity. One of the major means of ensuring liquidity in an
organization is to ensure that organizations carry out its activity to
ensure that it will achieve a level of profitability that will guarantee
the continuity of the organization. Hence the topic, the impact of
budgetary control on the profitability of business organization. With
the topic “The Impact of Budgetary Control on the Profitability of
Business organization”. This study is to be carried out to show the
impact of budgetary control on the profitability of business
organization. The aim of the study is to show why some business
organization fail in their profit objective and to explain how as
effective budgetary control could be used to enhance the
profitability of business organization.

Data used for this study were
gathered through the review of related literature. Survey was also
carried out and opinions were sampled about the topic through the
use of questionnaires. The data obtained from the questionnaires
were statistically analyzed with tables. The data in the tables were
further analyzed with the help of chi-square for informed decision.
The result obtained from this study shows that effective budgetary
control have a strong and positive impact on the profitability of any
business organization. Without ensuring that actions are carried
out as budgeted to ensure that the budget goals are achieved,
organizations will hardly meet their profit plan. In chapter five of
this study, the study made some recommendation on how
budgetary control as a tool could be used to control actions to
ensure that profitability of business organizations is achieved.

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