BUDGETING, BUDGETARY CONTROL AND PERFORMANCE EVALUATION: Evidence from Hospitality Firms in Nigeria

Authors

  • Patrick Egbunike
  • Amaka Unamma

DOI:

https://doi.org/10.29358/sceco.v0i26.398

Keywords:

budgeting, budgetary control, hospitality companies, performance, evaluation techniques, budgeted outcome, actual outcomes, costs

Abstract

This study was carried out with the view to address two fundamental issues: first, to determine if there is any association between budget, budgetary control and performance evaluation; second, to ascertain if there is any significant variation in the budget, budgetary control and performance evaluation measures of hospitality firms in Nigeria. The study employed descriptive design and primary data (questionnaire) was the major source of data collection. Questionnaire was administered to a total of six hundred (600) employees of ten (10) selected hospitality firms in Nigeria. The data obtained were analyzed using both descriptive and inferential statistics. Findings indicated that budget and budgetary control could serve as an avenue through which hospitality firms in Nigeria can be evaluated. In addition, it was revealed that there is a significant variation in the budget, budgetary control and performance evaluation of hospitality firms in Nigeria. On the basis of the findings, it was recommended that hospitality firms in Nigeria should carry out performance evaluation on every aspect of their budget and budgetary activities as a way of ensuring that budgeted outcomes are met. Also, budgetary costs should be a basis of choosing the most-fit performance evaluation technique for hospitality firms since such

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Published

30.12.2017

Issue

Section

Articles

How to Cite

Egbunike, P., & Unamma, A. (2017). BUDGETING, BUDGETARY CONTROL AND PERFORMANCE EVALUATION: Evidence from Hospitality Firms in Nigeria. Studies and Scientific Researches. Economics Edition, 26. https://doi.org/10.29358/sceco.v0i26.398