The Effect Of Budgetary Control On Financial Performance Of Selected Quoted Brewery’s Companies In Nigeria
ABSTRACT
The main objective of this study was to assess the effect of budgetary control on the financial performance of quoted brewery companies in Nigeria. The research design that was used in this study was ex-post factor research design. The data used covered a period of ten years, from 2010-2020. The variables tested in the study are cost of sales control, operating cost control, inventory cost control and return on assets. The study has a population and a sample size of the major brewery companies quoted in the Nigerian Stock Exchange as at September 2022. The data from the companies under study formed the purpose of analysis. The findings of this analysis reveal that cost of sales control, operating cost control and inventory conversion period have statistically significant effect on the financial performance of brewery firms inNigeria. The study therefore concludes that budgetary control has a strong effect on the financial performance of quoted brewery firms in Nigeria.On the basis of the conclusion of the study, it was recommended that firms in Nigeria should utilize their various forms of budgetary control measures in optimizing cost in generating more income for the company that will lead to higher financial performance, efficient cost control of operating cost and adoption of optimal inventory management.