A budget can be useful in setting standards of performance, effectiveness and efficiency for the development of the economy in a country. Budget management is an essential tool for the good management of funds. It allows to identify the charges and projected incomes of the company, according to the defined objectives and to compare them later with the reality.
Budget helps to aid the planning of actual operations by considering how the conditions might change and what steps should be taken. Budgetary management is important in the economic development for the following reasons:
· To control resources
· To evaluate the performance
· To provide visibility
· For accountability
· To stay on track with the plan
the role of commercial banking in the development of nigerian economy
Role of large scale industry?
1. It contributes to the growth of the economy.
Insurance plays a very significant role in the economic development of Nigeria. With the insurance covers, more people are able to take the risk on investment which greatly boosts the economy.
what was the role of the factor in the southern economy
the role of commercial banking in the development of nigerian economy
what is banking role in afghanistan economic development
the role of commercial banking in the development of nigerian economy
main role of management is to keep software development carry on. also it is important to keep the track of changes and make as required.
Role of large scale industry?
introduction of role of society in development of environment
1. It contributes to the growth of the economy.
economic development and employment.
The role of a business development director is one that focuses on the management of the tasks and processes that aims to develop growth opportunities. This should translate to profit.
budget slack can be prevented by good alignment between budgeting process and the organization's strategy which achieved by communication and coordination between top management and line managers or strategic business units to ensure that all line managers have the same perspective about achieving the organizational goals.good implementation of budgetary control also plays a role in preventing budgetary slack.
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Management anable specialization to increase in various fields,this therefore leads to quality service delivery in the Nation.