Investigating Budgeting Process and Budgetary Control System within Organizations: A Study with Reference to Indian Listed Companies and Financial Institutions

Today, budgets are considered by many as a powerful tool to conduct and control an organization's internal and external affairs. Budget, budgeting, and budgetary controls are the priority of every manufacturing and service entity. Top management in organizations uses budgets to monitor and control the financial and nonfinancial activities that occur within their organization. The current research method is empirical, which tests the feasibility of a solution using empirical evidence based on statistical applications. The study considered SENSEX ۳۰ companies listed on the Bombay Stock Exchange. The statistical population comprised five top-level managers categories, including ۱۵۰ respondents, eight mid-level managers, ۲۴۰ respondents, and ۱۲ lower-level supervisory cadres of ۳۶۰ respondents. The total population is ۷۵۰ respondents. "Simple Random Sampling Technique" used in the current study. Primary Data was collected using an Interview Schedule developed explicitly for the purpose and finalized after conducting the pilot survey. The collected primary data are validated, tabulated, and classified. Secondary data were collected from published articles, the Companies Act, the Accounting Standards Manual published by the Institute of Chartered Accountants of India, Websites, journals, and other validated material. The companies' annual reports were a significant secondary data source. Data analysis uses Statistical Package for Social Sciences (SPSS), and interpretations are made based on statistical tools. The results of the research indicated that most Indian companies set budgeting systems in accordance with accounting standards. The results of the current study also show some significant factors that need to be considered by the organization while setting budgets.

کلیدواژه ها:

Budges ، Internal control system ، Management Accounting ، Financial Factors ، Accounting Standards