![]() ![]() ![]() ![]() However, budgetary information serves a variety of potentially conflicting purposes within an organization. Budgeting, planning and forecasting (BP&F) is a three-step strategic planning process for determining and detailing an organizations long- and short-term. By setting standards of performance and providing feedback by means of variance reports, the accountant supplies much of the fundamental information required for overall planning and control. The study findings suggest the need for research on attitudes held by the budgetees towards the use of budget variances in the context of advanced management accounting techniques. Budgetary planning and control is the most visible use of accounting information in the management control process. Most prior studies were mainly confined to advanced countries. Budgeting and cost control includes the detailed estimation of costs, the setting of agreed budgets, and control of costs against that budget. Contributes toward filling a gap in the literature on the use of budgets as a planning and control tool in developing countries. In certain cases, firm size influences budgeting practices. While both the listed and non‐listed companies have reported many similar budget practices, the main differences were specific purposes served by budgets, degree of budget participation, periodicity of variance reporting, and purposes and authority to evaluate budget variance reports. Uses budget variances to measure a manager’s ability, for timely recognition of problems, and to improve the next period’s budget. Most of the companies prepare long‐range plans and operating budgets, and they follow a definite budget procedure and implementation methodology. Examines budget planning implementation and performance evaluation practices by utilizing a questionnaire survey of 54 medium and large sized companies located in Bahrain. ![]()
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