Abstract-Budget is a quantified financial planning for a future accounting period. It concerns with the middle and long term plan for the year ahead. Budgets are a clear indication of what is expected to be achieved during the budget period. Budget preparation also motivating managers to strive in achieving the organizational goals, controlling activities and evaluating the performance of managers. Budget is not only useful to the well-established organization but actually it is important for small scale business. 160 set of questionnaires were distributed to the small businesses manager/owner in the state of Selangor to get their level of awareness and knowledge on budgeting. From the study, it was found that the awareness and knowledge level of small businesses owner on budget is in moderate pattern. Future studies could enhance to the awareness and knowledge level of the medium size organization on budget.
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