This paper presents the budgeting systems of the IDEAL Science & Technology Development Company. Budgeting refers to the process of quantifying the plans of a company with a sole reason to enable it achieve its objectives in the stipulated and defined period (Axson, 2010). Basically, the result of the process of budgeting is termed as a budget. A budget is of importance in areas of cost control, performance evaluation as well as for future decision making. Its planning and control is seen as a short term qualification and monitoring of a company’s long term plan. A strategic plan shows the core objectives to be ...
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