Financial Planning And Control A Key To Management Efficiency A Case Study Of Nigeria Breweries Ninth Mile Corner Enugu

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Financial Planning


The reasons for the study emanated from the fact that poor financial control system has always been an impediment to the growth of some business organizations. They have always faced the problem of poor cash and material control system of which this study has addressed it self to. The problem of how stocks and cash should be held in order to have a healthy financial environment and operations and the maintenance of an efficient inventory management some of the organizations.

The problem of stock management revolves on the determination of the optional stock levels. Besides, efficiency financial control measures and staff efficiency to which this work will address itself to, counts to the problems faced by some organizations like brewery. I have to make some useful suggestions and recommendations based on that which the company and other similar organizations will adopt to achieve results.

This study will be a guide to scholars, researcher or writers who may wish to carry further study on the financial management of the company. Financial Planning This study focuses on the examination of the existing financial control system in Brewery and also to investigate the present system of cost control and material management as indicated above.Financial Planning




In every business organization today, Management Accounting serves as the ‘language’ used by businesses to communicate both financial information and non-financial information to individuals and groups who have an interest in how the business is performing.

From a management accounting point of view the primary purpose of management is to plan, control and make decisions that may be classified as marketing, production, and financial. The tactical decisions which must be preceded by strategic decisions provide the historical data from which the accountant prepares financial statements. The business firm or enterprise is an organizational structure in which the basic activities are departmentalized as line and staff. The organization is run or controlled by individuals collectively called management.

Every organisation has managers, however,  these managers have a responsibility to the organisation’s stakeholders to manage the organisation in the most-effective and most-efficient way, to maximize the organisation’s potential, thus it involves the managers undertaking adequate planning for the short-term and long-term future of the business, ensuring that the business is being properly controlled to ensure plans succeed, and making decisions that will enable the business to survive and grow in the future.

The management faces a broad array of decisions, including production, marketing, financial and other decisions. Having in mind that decision making is a fundamental part of management such decisions about the acquisition of equipment, mix of products, methods of production and pricing of products and services confront managers in all types of organizations.

though, The fundamental objective of planning is to assist management in deciding how to allocate an organisation’s resources, while Control is a key feature of management accounting and follows on from planning, it can be exercised at a strategic and / or an operational level, while decision making process .

Management accounting equips managers with information required to carry out these tasks. Management accounting is an important part of the economic information system, with a key role in decision making, whether we talk about small and medium enterprises or large companies. However, management accounting is superficially treated in most economic entities,

The format and content of management accounts depend upon the specific requirements of management. Different businesses will have different information requirements and their individual management accounts will reflect this. As internal reports, management accounts will often contain business-sensitive information for a restricted audience and can focus on both financial information and non-financial information, such as critical success factors (measures of factors or aspects of an organisation’s performance deemed to be critical, or essential, to its competitive advantage and thereby its success).

Early studies place management accounting in a service function with the scope to provide all levels of management with high-quality scorekeeping, attention-directing and problem-solving information and also to provides management with data in order to establish policies, develop plans and control operations.(Simon et al.1954).

Management accounting In a general sense, managerial accounting is an integral part of management that deals with identifying, presenting and interpreting information used for strategies, decision making, resource optimization, employee information, asset protection planning and control of activities, information of associates or other external information users. ( Briciu, and Căpuşneanu, 2011: 57-68).

Furthermore, there is a separate division within management accounting which captures cost accounting, cost analysis, cost control and cost reduction. Singer (1961) and BrunsandMcKinnon (1993) point out that management accounting captures collecting (financial) information which is useful.Financial Planning

It should be noted that, in addition to principals of financial analysis, the application of management accounting in an organization captures good knowledge of the business the firm operates in, fluent communication skills and knowledge of (change) project management.Financial Planning

Further analysis has clarify that  the emergence of team-oriented management accounting roles (management accountants)nowadays needto have hybrid skills from the traditional roles, this is because management accounting is becoming wider involved in integrated business situations, agendas and decision-making forums.Financial Planning

It is against this issue, ideas, information that this study tends to analyze, explain, and assess the application of management accounting in organizational planning, control and decision making process.Financial Planning

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