مطالب

Today, budgets are considered by many as a powerful tool to conduct and control an organization's internal and external affairs. Budget, budgeting, and budgetary controls are the priority of every manufacturing and service entity. Top management in organizations uses budgets to monitor and control the financial and nonfinancial activities that occur within their organization. The current research method is empirical, which tests the feasibility of a solution using empirical evidence based on statistical applications. The study considered SENSEX 30 companies listed on the Bombay Stock Exchange. The statistical population comprised five top-level managers categories, including 150 respondents, eight mid-level managers, 240 respondents, and 12 lower-level supervisory cadres of 360 respondents. The total population is 750 respondents. "Simple Random Sampling Technique" used in the current study. Primary Data was collected using an Interview Schedule developed explicitly for the purpose and finalized after conducting the pilot survey. The collected primary data are validated, tabulated, and classified. Secondary data were collected from published articles, the Companies Act, the Accounting Standards Manual published by the Institute of Chartered Accountants of India, Websites, journals, and other validated material. The companies' annual reports were a significant secondary data source. Data analysis uses Statistical Package for Social Sciences (SPSS), and interpretations are made based on statistical tools. The results of the research indicated that most Indian companies set budgeting systems in accordance with accounting standards. The results of the current study also show some significant factors that need to be considered by the organization while setting budgets.

The forward-looking information disclosure presents the information that enables the beneficiaries to evaluate a company's future that might involve financial forecasts and uncertainty. This affects the company's performance and decreases the stock return volatility. The present research aims at integrated modeling of the causes and consequences of forward-looking information disclosure. This study is an applied descriptive correlational research. The sample included 93 companies listed on the Tehran stock exchange from 2013 to 2019. The impact of all the causes of forward-looking information disclosure and its consequences was extracted by applying the structural equation modeling method. The consequences include capital cost and informational asymmetry, and the causes of forward-looking information disclosure include macroeconomic features, financial performance, ownership structure, board characteristics, structural properties, and audit. In short, according to the obtained results, the forward-looking information disclosure significantly positively affects the capital cost. On the contrary, it has no significant influence on informational asymmetry. Further, the results of testing the model revealed that the variables of ownership structure and financial performance positively influence forward-looking information disclosure. In addition, the impact of macroeconomic characteristics is negative, and there is no relationship between the forward-looking information disclosure with the audit, structural features, and the board's characteristics