A survey of budget-related planning and control policies and procedures

Cress, William P.; Pettijohn, James B.

doi:10.1016/0748-5751(85)90007-7

Cited by 20 publications

(11 citation statements)

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“…Vancil (1978), Cress and Pettijohn (1985) and Daley, Jiambalvo, Sundem and Kondo (1985) report response rates of35.3%, 27.4% and 39.7% respectively. One likely reason for our lower response rate is that while the previous studies survey large publicly-held companies, approximately 50% of our sample are small businesses or privately-held companies.…”

Section: B3 Responsementioning

confidence: 99%

Decentralization of the firm: theory and evidence

Christie

Joye

Watts

2003

Journal of Corporate Finance

191

100

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Jensen and Meckling (1992) hypothesize that the finn's decentralization decision is determined by a tradeoff of knowledge transfer costs and control (agency) costs. To maximize value, either knowledge must be transferred to those with the right to make decisions or decision rights must be transferred to those who have the knowledge. We identify characteristics of firms' investment opportunity sets that affect knowledge transfer and control costs and generate testable predictions about the relations between these characteristics and firms' decentralization decisions. The evidence we present is generally consistent with our predictions and is robust to different ways of measuring variables.* University of Rochester. + Union Bank of Switzerland. Financial support was provided by the John M. 0';" Foundation and the Bradley Research Center of the University of Rochester. We thank Mike ~a :ny, Ron Dye,

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Section: B3 Responsementioning

confidence: 99%

Decentralization of the firm: theory and evidence

Christie

Joye

Watts

2003

Journal of Corporate Finance

191

100

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“…According Cress and Pettijohn (1985), policies and procedures of the budgeting, personal responsibility and other activities related to the budgeting are generally described in a manual. Another practice is the formation of a budget committee.…”

Section: The Budgeting In the Planning Stagementioning

confidence: 99%

“…In addition to the strategic level, the participation of other levels in the budgeting is generally considered a healthy management policy. Participation alone does not necessarily provide an improvement in performance, it gives managers a greater sense of responsibility, increases organizational commitment, the probability of goals acceptance and reduces information asymmetry (Cress & Pettijohn, 1985;Fisher, Maines, Peffer & Sprinkle, 2002;Marginson & Ogden, 2005;Parker & Kyj, 2006;Subramaniam, Mcmanus & Mia, 2002;Winata & Mia, 2005;Zonatto & Lavarda, 2013).…”

Section: The Budgeting In the Execution Stagementioning

confidence: 99%

“…There are many studies in the literature which examine the practices adopted by companies, such as the use of manual and budgeting committee, the time spent in preparation and also the time horizon that is intended. In addition, some of these studies aim to understand the reasons in which companies use budgeting, motivational issues and other aspects regarding control and performance evaluation (Almeida, Machado, Raifur & Nogueira, 2009;Castro, Souza, Santos & Lunkes, 2012;Cress & Pettijohn, 1985;Hansen & Van der Stede, 2004;Jones, 1998;Jones, 2008a;Joshi et al, 2003;Pereira & Espejo, 2012;Predengarst, West & Shi, 2006;Schmidgall & Ninemeier, 1986;Steed & Gu, 2009;Uyar & Bilgin, 2011).…”

Section: Introduction Bmentioning

confidence: 99%

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Sophistication in the Use of Budgeting Practices

et al. 2016

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Previous studies regarding the budgeting practices topic seek to conduct surveys about what budgeting practices are used by companies, but there is no initiative to indicate which of them can be best suited. This paper aims to construct a model to assess the level of sophistication of the budgeting practices of companies. To build the model, we used MCDA-C (Multicriteria Decision Aiding -Constructivist) methodology. We developed the model with the use of a value function for conversion of the scale, the method of the Direct Score was used. The model enables the demonstration of the sophistication level in the use of surveyed budgeting practices as well as for comparisons between research in different countries and industries. Using an instrument from another area of knowledge, the model contributes to measure the sophistication level of budgeting practices used.

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“…Therefore several government agencies had been set-up accordingly such as Majlis Amanah Rakyat (MARA), Small Medium Industrial Development Corporation (SMIDEC), Ministry of Blondal (2006) quoted that budget is among the four "pillars" in the public finance system in Singapore besides government investment agencies, Central Provident Fund and other various special funds. Large and complex organizations use budgets as one of their primary tools to manage and control their operations (Cress andPettijohn 1985, Welker andMagner 1994). The budgeting process encompass formal and informal activities that take place during the preparation, implementation and application of the budget.…”

Section: Budget and Small Business Literaturesmentioning

confidence: 99%

A Descriptive Study on Awareness and Knowledge of Small Business Budget in Selangor

Jaafar¹,

Bakar²,

Norsuriana³

2015

Proceedings of the International Conference on Economics and Banking 2015

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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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A survey of budget-related planning and control policies and procedures

Cited by 20 publications

References 0 publications

Decentralization of the firm: theory and evidence

Decentralization of the firm: theory and evidence

Sophistication in the Use of Budgeting Practices

A Descriptive Study on Awareness and Knowledge of Small Business Budget in Selangor

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