Although the multiple functions of budgeting are stated in previous research, that research focuses heavily on budgeting and its application to large, publicly listed organizations in developed countries. For example, Dugdale (1994) finds that the U.K.
companies derive high benefits from the use of budgeting planning, or Bonn and Christodoulou (1996) indicate that 72 per cent of the largest manufacturing companies in Australia use formalized strategic planning systems.