Abstract

Abstract <br /> In the business sector, organizations in developed and developing nations compete fiercely. Businesses must recognize the importance of budgeting and how it affects their financial performance if they hope to stay competitive. This study examined the function of budgeting and how it affects the financial performance of industrial companies that are listed on the Ghana Stock Exchange using a case study methodology. The study specifically aimed to investigate the function of budgeting and assess its influence on these companies' financial success. A combination of convenient and cross-sectional sampling procedures was employed to pick fifty-one (51) respondents for the study's sample size. Surveys were employed to collect information from the participants. The matrix of correlation was employed to demonstrate that budgeting and financial performance were positively correlated. The study found that listed manufacturing firms' financial performance is significantly impacted by their budgeting practices. The results of the study once more demonstrated the significant positive relationship between financial performance and budgeting. The study also comes to the conclusion that planning, coordination, monitoring, and control, as well as evaluation, are important and have a favorable impact on manufacturing companies' financial success. According to the study, in order to facilitate the implementation of long-term strategies, managers should create thorough financial plans. In order for manufacturing companies to identify important financial indicators for their organization, know when and how to monitor them, plan for future operations, and improve current processes, annual budgeting reviews must also be continuously implemented. strategic plans and takes into account how they can react to the competition as it stands.<br />

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