DESIGN AND IMPLEMENTATION OF EXPERT FINANCIAL PLANNING AND BUDGETING

ABSTRACT

Financial planning has been an important part of corporate culture in many business organizations.  The success of any business organization largely depends on realizing an optional method of resource allocation and anticipatory decision making to effect the prosperous direction of the entire organization. Several business firms and organizations have suffered a failure as a result of inadequate management and incapacitations in handling sensitive matters.  Probably, there are no readily available formal planning practices, no company’s basic direction and purpose in order to ensure long-term health and vitality of any organization. This research therefore, aimed at developing an expert system for financial planning and budgeting model, which will help direct and position an organization for growth and survival. The International Glass Industry (IGI) Plc has been adopted as a case study.  In the course of the development of this new system, the current system was analytically and critically studied or assessed and thus they identified strengths and weaknesses were highlighted and a new system was designed for the weakness. The present system was analyzed using a standard procedure recognized worldwide for such purpose and this is called Structured System Analysis and Design Methodology (SSADM).  The Visual Basic Programming Language is used to code the program modules developed for the system using some computer aided design tools.  It is also pertinent to point out here that the topic is generic in the sense that it can be applied or implemented in any decision-making organization.  Models, such as Gamblers Ruin Score, Boston Consulting Group, Z-Score Methods etc were developed and programmed for a positive implementation.