Abstract:
Budget and budgetary control, both at management and operational level looks at the future
and lays down what has to be achieved. Control and checks whether or not the plans
lire realized, and puts into effect corrective measure where deviation or shortfall is occurring.
This research examines the budget practices in budgetary control system and performance
evaluation of Sri Lanka Telekom Limited by presenting an analysis of survey
data. Recent developments such as globalization, strong competition and rapid advances
In information technology have substantially transformed the business environment.
Therefore organizations have excellent control over their budgets otherwise business will
not he able to compete effectively.
An empirical study was undertaken, using the correlation analysis, regression analysis
and hypothesis testing. In the most of cases considered, established the presents of strong
relationship between the actual and budgeted revenue and expenditure. The research uses
some statistical analysis to examine and evaluate the collected budgetary information and
presents the finding and conclusions. The results show that Sri Lanka Telekom uses
budgets as part of their planning and control mechanisms are used as a performance evaluation
tool and exercise that accounting information process is functioning appropriately.
Hollowing our findings we advice the managers and the staff to pay the more attention to
their budgetary control system.
