ABSTRACT
Budgeting with special emphasis on Institute of Management and Technology (IMT) Enugu has the trust and reliability and credibility of information and record. To establish and implement a computerized measures and an alternative to the present manual budgeting as regards to budgeting system, one should be abreast of unattestation and unrealistic records that exist. The justification of this on the truth that present maul budgeting system in Nigeria especially that of IMT Enugu, is filled with lots of irregularly and error resulting from human traceable mistake and distortions in its operation. In this work, one would deduced that the investment alternative will provide clear, adequate, accurate and quick solution to the problem countered in budgeting system as regards in relation to reliable attestation function; assurance and dependability of financial statements about the account of the school. To this effect, one will say that computers would be the pivot on which the success of design and implementation of a computerized budgeting system of institute of management and technology (IMT), Enugu.
ORGANIZATION OF WORK
This work is organized to have a successful completion of a computerized budgeting system. This work is divided into seven chapters.
The first chapter deals with the introduction, statement of problems, purpose of study, aims and objectives, scope, constraints assumption of the project and the definition of terms.
The next chapter deals with the literature reviews stating the works of eminent writers who have contributed efforts in so many ways.
The third chapter describes and analysis the existing system. This entails the fact finding methods used, the organizational structure, the objectives of the existing system, information flow diagram, problems of the existing system and the justification of the new system.
Chapter four takes care of the design of the new system and which comprises of the output and input specification design, the file design, procedure and system flow chart and the system requirements for easy design of the system
Chapter five emphasizes on implementation which acts as a manual to correct users. The last chapter gives recommendation and conclusion and finally references.
TABLE OF CONTENTS
CHAPTER ONE
Introduction
CHAPTER TWO
Literature Review
CHAPTER THREE
Description and Analysis of the Existing System
CHAPTER FOUR
DESIGN OF THE NEW SYSTEM
CHAPTER FIVE
Implementation
CHAPTER SIX
Documentation
CHAPTER SEVEN
Recommendation and Conclusion
References
CHAPTER ONE
Many years back, individuals, government and even companies have tried to regulate income and expenditure, but this was not as possible as expected due to certain problem and constraints.
Better suggestions result to these approaches since most of the available resources at that time were not judiciously used. As a result of one problem or the other such as: Non-actualization of some basic needs of the masses, increase in population of the country. Delay and inaccuracy of job done. Payment of uncompleted projects. It is considered expedient to have a balanced and reliable budget which mainly implies the manual estimate of revenue and expenditure which could be applied to individuals, organization and government. They begin to make budgets of their day-to-day expenditure and revenue.
Notwithstanding, the careful planning and execution of budgets in Nigeria, the targets are hardly met while most budgets end up in difficult.
Based on this, the researcher deemed necessary to look into budgeting system in institutions with special emphasis on tertiary institutions. Institute of management and technology (IMT) Enugu being a tertiary institution, is required to have a planned budget to enhance an objective oriented operation.
STATEMENT OF THE PROBLEMS
Government, companies, institution and individuals have in the past set up a wonderful budget on daily bases, most of these budgets worked only for a while and crushed.
IMT has been spending so much time on the planning of these budgets even to the extent of setting up a budgets monitoring committee to ensure strict adherence to requirement of these budgets. Notwithstanding, the fact still remains that budgets in this country especially institution budget have never produced desired goal. This work therefore tends to find out why institution budget fails to achieve its goal by tactfully studying the budgeting system of institution of management and technology (IMT) Enugu and formulating a good reliable computer system that will take care of these problems.
PURPOSE OF STUDY
I am not proven that this research work is enough to make me “philosopher stone” I am rather stating here that this work is essential in various ways to a number of people including the businessmen, accountants, tertiary institutions, organization, banks etc. both private and government, owned in the field of budgeting. This will be of immeasurable benefit to tertiary institution, banks and organizations from time to time.
Organizations that make budgets would know measures to take so as to prevent problems of manual budgeting and if faced with these problem, they would be in a position to find a solution to it. Government and even institutions can secure their offices, companies and organization, schools against dubious minded managers as well as fraudsters.
AIMS AND OBJECTIVES
The objective of this project work was to introduce a computerized budgeting system that would help the tertiary institution understudy to calculate their profits and loss account at the end of each financial year. Due to the increasing errors, encountered during manual balancing of account, the researcher deems it necessary to introduce the new system. This new system would help the organization to avoid wasteful though budget deficit.
SCOPE
In this research work, the researcher placed the boundary on the area of study. The researcher studied the computerized budgeting system of “institute of management and technology” Enugu (IMT) for one financial year.
LIMITATIONS
During the course of this project work, the researcher did not find it easy. The researcher encountered the problem of lack of proper account of the materials needed for the research. The management did not give me the exact total amount of money the institution had before making budget.
The researcher had the problem of transportation owing to finance to reach every aspect to collect data relating to the project topic, time factor and lack of access to system for effective improvement on the project work.
ASSUMPTIONS
Necessary assumptions were made in order of facilitate easy carrying out of the research work. These assumption includes:
DEFINITION OF TERMS
BUDGET: This is an estimate of probable future income and expenditure.
COMPUTERIZATION: This is a method of charging from the manual form of doing things to computer methods.
COMPUTER: This is electronic devices which accept data as input, processes the data into information and brings it out in form of output.
FORECAST: It is the statement of likely even in the future.
SURPLUS BUDGET: This means that the planned expenditure is less than the estimated revenue.
DEFICIT BUDGET: This is a situation where by the planned government expenditure is greater than its estimated revenue for the financial year.
BALANCED BUDGET: This is a situation where the planned government expenditure and income are equal. It shows that the estimated income and estimated expenditure are equal.
EXPENDITURE: An amount of money spent. The action of spending or using money.
REVENUE: Income, especially the total annual income of the state.
PPBS: Programme planning budgeting system.
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