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Citations
... By collecting survey data compiled by the National Federation of Independent Business to analyze the capital budgeting practices of small firms, these authors discover that only 31 percent of their sample firms have a written business plan and conclude that small and large firms apply different capital budgeting practices. The on-line survey conducted in three consecutive years by Petkovski and Angelova (2014) encompassing a sample of 150 small and medium-sized Macedonian companies examined the reasoning and use of budgeting as a tool for starting or expanding operations. The results indicated an insufficient knowledge and adoption of this management accounting tool by SMEs. ...
... The analysis demonstrates that big organizations face great complexity and expenses, and have a need for sophisticated management techniques such as budgeting as opposed to small firms which work with a less diversified product lines, target a smaller market portion and have less complex organizational structures subject to control. These observations are in line with the results reported by Risseeuw and Masurel (1994), Masurel and Smit (2000), Danielson and Scott (2006), André s, Fuente, and Martí n (2015), and Petkovski and Angelova (2014). Table 4 summarizes the reasons for absence of budgeting practices by non-adopters. ...
By surveying legal entities headquartered in the FYR Macedonia, this research investigates the relationship between entity size, the independent variables and the adoption of budgeting, the dependent variable. The study also looks at the perceived advantages and disadvantages of budgeting. In order to obtain basis for the field research, existing literature and empirical results were examined. Then, a survey was carried out by contacting managers and finance staff from the manufacturing, merchandising and service segments. The field data came from a sample of 52 respondents, forming a response rate of 61 percent. The empirical findings indicate that the advantages of using budgets far outweigh the disadvantages and that Macedonian enterprises do not consider using other planning tools as alternative to budgets. Furthermore, the questionnaire demonstrated that there is a positive relationship between company size and the adoption of budgeting practices. This research suggests that budgeting deserves further study given its massive use as a management control tool.
