INTRODUCTION
1.1 BACKGROUND OF THE STUDY
It is obvious that we are living in a an era of planning and control, be it the petty trader with his booking or the industrials with his responsibilities to shareholders, planning and control are a part and parcel of our daily lives need and it is an essential factors in nation, business and private life.
In a competitive world where the key factors are cost, price, turnover and profit planning and control enables every individual to have a sound appreciation of the financial implications of his plans and action.
Financial planning and control can be use by any size or type of organization and in degrees varying, covering decentralized department to organization with only a single procedure. As a tool of management, it can increase the efficiency of the organization as a whole since all the departments are involved.
More so, no business can prosper unless all functions of accounting, finance, marketing, personnel and so forth are fully staffed with competent individuals. The efficiency and effectiveness of any organization therefore depends on a number of factors which may be categorized as clarity of purpose, management, planning, control and communication.
According to Eugene F. Brigham, financial management involves planning for acquiring and utilizing funds in a way that maximizes the efficiency and value of the firm.
Most especially, finance is the evaluation and disbursement of funds, it involves for basic issue which
functions of the financial officers and their functions are as follow.
- Raising
- Employment of these finds raised in viable projects.
In addition, planning and control are the essence of profit planning and act as a device that enables management to antipasti
No business can exist without some form of this concepts and success in business is proportionate to its planning and the skills with which it is controlled.
According to B.C lemke and J.D Edward, financial planning and control can therefore be said to be “the name given to a system which is being used to increase overall management efficiency”. It is concerned with planning for the allocation of resources the usage of these resources to assist in achieving the objectives of effectiveness and efficiency in both large and small scale organization.
Disclaimer: Note this academic material is intended as a guide for your academic research work. Do not copy word for word. Note: For Computer or Programming related works, some works might not contain source codes
CITE THIS WORK
(2014, 12). “financial Planning And Control, A Key To Management Efficiency In Large Scale Organization. (a Case Study Of Pz Cussons Plc Enugu)... ProjectStoc.com. Retrieved 12, 2014, from https://projectstoc.com/read/5944/ldquo-financial-planning-and-control-a-key-to-management-efficiency-in-large-scale-organization-a-case-study-of-pz-cussons-plc-enugu-1206
"“financial Planning And Control, A Key To Management Efficiency In Large Scale Organization. (a Case Study Of Pz Cussons Plc Enugu).." ProjectStoc.com. 12 2014. 2014. 12 2014 <https://projectstoc.com/read/5944/ldquo-financial-planning-and-control-a-key-to-management-efficiency-in-large-scale-organization-a-case-study-of-pz-cussons-plc-enugu-1206>.
"“financial Planning And Control, A Key To Management Efficiency In Large Scale Organization. (a Case Study Of Pz Cussons Plc Enugu)..." ProjectStoc.com. ProjectStoc.com, 12 2014. Web. 12 2014. <https://projectstoc.com/read/5944/ldquo-financial-planning-and-control-a-key-to-management-efficiency-in-large-scale-organization-a-case-study-of-pz-cussons-plc-enugu-1206>.
"“financial Planning And Control, A Key To Management Efficiency In Large Scale Organization. (a Case Study Of Pz Cussons Plc Enugu)..." ProjectStoc.com. 12, 2014. Accessed 12, 2014. https://projectstoc.com/read/5944/ldquo-financial-planning-and-control-a-key-to-management-efficiency-in-large-scale-organization-a-case-study-of-pz-cussons-plc-enugu-1206.
- Related Works
- The Roles Involving Management Accounting In Profit Maximization
- Accounting And Management Problems Of Small Scale Industries In Imo State (a Case Study Of Small Scale Industries In Ezinihitte Local Government Area
- Working Capital Management As A Tool For Cost Minimization And Profit Maximization (a Case Study Of Anambra Motor Manufacturing Company Enugu)
- The Effect Of Fluctuating Foreign Exchange Rate On Nigeria Currency. (a Case Study Of Central Bank Of Nigeria, Enugu Branch
- Liquidity Problem In Commercial Banks
- Budgeting: A Systematic Approach To Profit Planning And Control “a Case Study Of Mobile Telecommunication Network Nigeria Limited’ (mtn), Enugu State, Nigeria.
- An Evaluation Of Working Capital For The Successful Management Of Hamdala Hotel, Kaduna
- An Evaluation Of Impact Of Computerized Accounting System In United Bank For Africa (uba) Nigeria Plc Kaduna
- The Role Of Auditing In A Developing Economy – Nigeria Experience
- Financial Distress In Some Commercial Banks, Reasons, Issues, Consequences And Solution.