"Budgeting: Perspectives from the Real World," by Karen A. Shastri and David E.

Stout, Management Accounting Quarterly, Vol. 10, No. 1 (Fall 2008), pp. 18-25.

This article survey evidence from senior accounting and finance managers regarding the budgeting process at for-profit companies, including the usefulness and perceived value of the process, user satisfaction with this process, and the impediments and challenges to budgeting. Respondents included 815 members of the Institute of Management Accountants (IMA). The study is a follow-up to a recent study on budgeting published (2007) by Libby and Lindsay.

Blocher, Stout, Juras, Smith: Cost Management, 8/e 10- 3

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Education.

Discussion Questions

1. What are the general accounting-related questions addressed by the authors of this paper?

2. What were the primary survey findings regarding the budgeting process used currently in the U.S. or Canada?

3. What did the authors find regarding the perceived value of the budgeting process (from the standpoint of survey respondents)?

4. What were the primary findings of this study regarding the level of satisfaction with the budgeting process?

5. As indicated in Chapter 10, there are potential negative behavioral consequences associated with the budgeting process. What did respondents in this study say as regards this issue?

6. What future research do you think is suggested on the basis of this study?