Achieving budget goals: An examination of planning, implementation and control issues in corporate Ghana
The issue of firm's inability to achieve their budget goals is a bit worrying. This leads to the question of whether the firms implement and control exactly what they plan. The study seeks to identify what exactly companies in Ghana take into consideration at the planning and implementation stages of their budgets and to also examine whether Ghanaian companies implement and control exactly what they have planned. Questionnaires were used to collect the necessary data for in this study. With the help of Statistical Package for Social Science (SPSS) Software the data were analyzed. Findings of the study show that companies in corporate Ghana consider a lot of factors before they come up with a budget plan. Furthermore the plan goes through thorough reviews before it is approved by those in authority. However most of them seem to have challenges in the implementation and controlling aspects of the budget. I therefore recommend that the sampled firms organize or undertake seminars and workshops on how budget plans can be coordinated to ensure that the plan is well controlled to help in a smooth implementation.
Thesis submitted to the Department of Business Administration, Ashesi University College, in partial fulfillment of Bachelor of Science degree in Business Administration, May 2010 NB: Not full text of thesis
Ghana, budget planning