Author(s): Mawj Abbas Jasim, Tahreer Sallal Rabeea, Hasan Talib Hashim
Iraqi companies need proper planning to achieve their goals. Planning involves selecting and comparing alternatives to determine the best alternative to achieve the planned objectives. Management accounting provides valuable information and data for planning. Budgeting is one of the essential managerial accounting methods in this aspect. The budget thus redirects the government's strategic plan. As an intermediary, it controls the condition's financial strategy. This study aims to illustrate how planning budgets can be used to plan, control, and evaluate the performance of Iraqi public shareholding industrial companies and how all departments must be included in preparing for them. Additionally, these companies must demonstrate their commitment to using these budgets. Budget planning success depends on applying scientific principles and foundations, the availability of sufficient information, and the level of collaboration between departments. Moreover, follow up on the performance of these budgets by analysing the outputs and comparing the actual outputs to the budgeted outputs. A questionnaire containing comprehensive questions related to all aspects of the study was designed according to the Five-Likert scale to achieve the study's objectives. 32 Iraqi industrial companies received 123 questionnaires. Using budgets to plan, control, and evaluate the performance of Iraqi industrial companies (the sample) is essential. Budget creation involves internal and external challenges. Utilizing the system's outputs and planning a perfect future for the company can serve as a valuable tool for revenue planning and cost reduction