An Evaluation of the Relationship Between Budgeting and the Efficiency of Fast Food Industry in Rivers State

This study is on the relationship between budgeting and the efficiency of fast food industry in rivers state. And the purpose of the study was to find out the relationship between budgeting and the efficiency of the fast food industry in Rivers state. Determining how budgeting relates with effectiveness of the fast food industry in Rivers state. This study was conducted using a descriptive survey design method, which is deemed suitable for use to ascertain the relationships between the constructs under investigation. However, the target population for this study was restricted to owners, managers and accountants all who were deemed to be the decision-makers of the fast-food industry and thus were expected to be familiar with the usage of MAPs in their organizations. The researcher made a purposive sampling of five (5) fast-food industries in Rivers state. The sample size of fifty (50) member staff was used to represent the whole population. A self-administered, structured questionnaire was used as the research instrument and the responses were summarized with percentages, frequency counts, or more sophisticated statistical indexes upon which references are drawn about a particular population. All the data collected through the self-administered questionnaire were analyzed with the use of Statistical Package for Social Sciences (SPSS) program. All survey data were coded, categorized and inputted into SPSS. The result of the study revealed that there is a significant relationship between budgeting and the efficiency of the fast-food industries in Rivers state. And also, that there is a significant relationship between budgeting and the effectiveness of the fast-food industries in Rivers State. The researcher recommended among other things that, competent and skilled personnel with sound accounting background should be employed by firms in order to ensure efficient and effective use of management accounting practice for organizational performance. Business owners and their staff must have the expertise and knowledge of modern day management accounting practices and must be able to utilize it effectively.