Budgeting and Financial Performance of Tororo Cement Ltd, Tororo (U)
Loading...
Date
2024-08-02
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Uganda Christian University
Abstract
The study investigated the effect of budgeting on financial performance using a case study of Tororo Cement Ltd. The study objectives were; to examine the effect of Budget Planning on the performance of Tororo Cement Ltd, to examine the effect of Budget Control on the performance of Tororo Cement Ltd, and to examine the effect of Budget Participation on the performance of Tororo Cement Ltd. The study used survey and case study designs which triangulated quantitative and qualitative approaches. The sample size of 80 respondents was selected using the Krejcie & Morgan (1970) table. Data was analyzed using mixed methods with the content technique of analysis for qualitative and SPSS for quantitative data. The latter included descriptives and inferential statistical analysis. The findings revealed that budget planning has positive significant effect on financial performance of Tororo cement factory Limited, that budget control has a positive significant effect on financial performance of Tororo cement factory Limited and that budget participation has a significant effect on financial performance of Tororo cement factory Limited. The coefficient regression results indicated that budget participation had the most significant influence on financial performance (ß=0.341; t=20.1188; sig=0.088), followed by budget planning (ß=0.335; t=17.783; sig=0.000) and then Training (ß =0.324; t=15.146; sig=0.000). The study concluded that budgeting in general terms has a significant effect financial performance of Tororo cement limited. The study recommended that; management should ensure that budget planning is properly and that it should be done early enough. That Management of the factory should ensure that budget controls are strictly followed and adhered to by all officers and finally, management of the factory should ensure that the heads of departments in the organization are not left out in the budgeting process.
Description
Postgraduate Research