Budgeting and Sustainable Performance in Nigeria Quoted Food and Beverages Companies

Budgeting entails a distinct pattern of financial decisions in profit oriented organizations. The uncertainties and volatility prevailing in Nigeria business environment leading to stock out, deflection of customers, insolvency and financial distress, effectual liquidation of companies and in the alternative relocation of businesses out of Nigeria have given rise to the challenge of budgeting and budgetary control in Nigeria quoted  food and beverages companies. This studt evaluated the effect of budgeting on sustainable performance of Nigeria quoted food and beverages companies. Survey research design was adopted.  The population for the survey comprised all the eighteen (18) quoted food and beverages quoted companies in Nigeria stock Exchange as at 31 December 2017, out of which five (5) respondents with experience in accounting and finance were selected in each organization using purposive and judgmental sampling techniques.  Sixty (60) copies of the questionnaire were administered with retrieval rate of 92% .The findings showed that budgeting has significant  positive effect on production quantity with R² 0.448,F-statistics 9.938,p-value 0.000.Budgeting has significant positive  effect on turnover with R,20.409,F-statistics 8.488,p-value 0.000.Budgeting has significant positive effect on profit after tax with R² 0.255,F-statistics 4.188 and p-value 0.005.Budgeting has significant  weak but positive effect on dividend paid with R² 0182,F-stattistics of 2.733 and p-value of 0039.The result of the combined effect showed that budgeting has  positive and significant effect on sustainable performance of Nigeria quoted food and beverages companies in Nigeria with R² 0.511,F-statistics of 12.778 and p-value of 0.000.The study concluded that budgeting has positive effect on sustainable performance of Nigeria quoted food and beverages companies in Nigeria.

Budgeting entails a distinct pattern of financial decisions in profit oriented organizations. The uncertainties and volatility prevailing in Nigeria business environment leading to stock out, deflection of customers, insolvency and financial distress, effectual liquidation of companies and in the alternative relocation of businesses out of Nigeria have given rise to the challenge of budgeting and budgetary control in Nigeria quoted  food and beverages companies. This studt evaluated the effect of budgeting on sustainable performance of Nigeria quoted food and beverages companies. Survey research design was adopted.  The population for the survey comprised all the eighteen (18) quoted food and beverages quoted companies in Nigeria stock Exchange as at 31 December 2017, out of which five (5) respondents with experience in accounting and finance were selected in each organization using purposive and judgmental sampling techniques.  Sixty (60) copies of the questionnaire were administered with retrieval rate of 92% .The findings showed that budgeting has significant  positive effect on production quantity with R² 0.448,F-statistics 9.938,p-value 0.000.Budgeting has significant positive  effect on turnover with R,20.409,F-statistics 8.488,p-value 0.000.Budgeting has significant positive effect on profit after tax with R² 0.255,F-statistics 4.188 and p-value 0.005.Budgeting has significant  weak but positive effect on dividend paid with R² 0182,F-stattistics of 2.733 and p-value of 0039.The result of the combined effect showed that budgeting has  positive and significant effect on sustainable performance of Nigeria quoted food and beverages companies in Nigeria with R² 0.511,F-statistics of 12.778 and p-value of 0.000.The study concluded that budgeting has positive effect on sustainable performance of Nigeria quoted food and beverages companies in Nigeria.

Keywords: Budgeting, Control, Coordination, Evaluation, Planning, and sustainable performance.