Abstract:
Budget and budgeting are the basic requirements for the proper functioning of organisations and institutions.
The objectives of the study is to find if management prepares a budget, the impact or relevance of budgeting in managerial decision making, what it costs management in preparing the budget, who are responsible for the preparation of the budget, how difficult it is to preparing the budget and how long it takes in preparing the budget in small and medium scale enterprises in the Kumasi metropolis.
Description:
The popular saying, failing to plan is planning to fail, is one which has great implication for the growth of any organization. This directly goes to say that, if an organization wants to make a good decision in order to increase production and achieving its goals, it has to draw up a plan in the form of a budget. Budget, according to Jean Wilson Murray, “is a financial document used to project future incomes and expenses”.
