| dc.description.abstract | Budget generally refers to a list of all planned expenses and revenues. It is a plan for
saving and spending. According to Flamholtz, (1983), Budgets are financial blueprints
that quantify a firm’s plans for a future period. Budgets require management to specify
expected sales, cash inflows and outflows, and costs; and they provide a mechanism for
effective planning and control in organizations. The budget is a standard against which
the actual performance can be compared and measured. A budget is an important concept
in microeconomics, which uses a budget line to illustrate the trade-offs between two or
more goods.
The study used a census survey design. The strength of a census survey is that it is a
representation of a whole population. The target population for this study involved all the
45 head offices of commercial banks in Kenya. The researcher used both primary data
and secondary data to carry out research. Primary data were from questionnaires and
interviews issued to the targeted population. Secondary data was gathered from annual
reports, books, journals and other previous research works. The data acquired from the
questionnaire was coded and analysed through Statistical Package for Social Sciences
(SPSS) and the secondary data was analysed through content analysis.
The study found out that the process of budget implementation is generally effective, also
representatives from different platforms are involved in the process, the execution of the
process is fast and efficient, the process attracts opinions and few complaints have been
experienced, the budgetary implementation procedures and the decision makers are fair at
all levels of the organization and the process has encouraged operational assessment in all
platforms of the organization. | en |
