ABSTRACT
This study was undertaken to verify how much effective budgetary control contributes organization survival. The objective are focused on determining whether budgeting is an effective management tool in organizations whether budgetary control has contributed to the success and survival of organization as well as how organization handle their budgetary process successful organization were used as reference point in all situation. The choice of these organization was because they are primary constituencies that have shown a consistent increase in profits over the years in most cases for the past years hence used in this study as reference point. Careful and thorough analysis made revealed that:
1. Organization that are survival conscious use budgeting as a management tool.
2. This helped organization achieve their overall objectives.
3. It was also discovered that there is need for effective budgetary control measures in organization this aids organizational survival.
4. It was also found that here is need for well defined long range objectives in organization as short term objective derive from these long term objectives.
5. Our findings also showed that management principle i.e. management my objectives and management by exception could be of immense benefit when applied to budgetary control.
The study made the following key recommendations among others.
i. It is imperative that various level of management understand the process through which budget preparation go.
ii. It is also important to involve subordinates in preparing divisional and departmental budgets as this ensure commitment
iii. Organization that hitherto do not use budget as a standard in their business operation are advice to make use of budget as this draws the attention of the managers of a business more explicitly to the nature of the problems they are facing and leads to more careful and critical thinking and greater precision.