Elements and success factors for an efficient budgeting

Kunnathuvalappil Hariharan, Naveen (2019): Elements and success factors for an efficient budgeting. Published in: Journal of Emerging Technologies and Innovative Research (JETIR) , Vol. 6, No. 3 (5 March 2019): pp. 752-759.

Abstract

A well-crafted efficient budget is believed to lead to an optimal financial performance. This research investigated the elements and critical determinants of efficient budgeting. We outlined how an efficient budget can lead to an optimal financial performance. By investigating the theoretical linkage between budgeting and financial performance, we found that there are five channels through which an efficient budgeting leads to an optimal financial performance. The channels are: a) communication and coordination b) motivator c) evaluation and control of performance d) goal Orientation e) cost awareness.

• Item Type: MPRA Paper
• Language: English
• Keywords: Budgeting; Efficiency; Goal Orientation; Cost awareness
• Subjects: G - Financial Economics > G0 - General; G - Financial Economics > G1 - General Financial Markets > G10 - General

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