This study aims to measure the budgeting practices of some Small and Medium Enterprises (SMEs) in Lucena City and to uncover some insights that would guide the formulation of budget management strategies. In this section, we define the key sub-problems as follows; managerial accountants’ budgeting practices, impact of profitability, impacts of cost control and impacts of decision-making. Important budgeting practices to evaluate are managerial support, strategic goals consistent with the development of the budget, realistic allocation of resources, adaptability, continuous improvement, reducing complexity and technology integration. The data was obtained from a survey conducted into the involvement of managerial accountants in budgeting, their association with strategy and the distribution of resources, as well as their use of technology in the SMEs sector. This implies a pattern of strategy integration and resource allocation for the SMEs that involved the managerial team in the decision process itself. Moreover, technology is assumed to enhance decision-making and operational efficiency in the budgeting phase, which seem advantageous. In view of the fact that decision making, adjusting to the changing environment, remaining flexible, and the continuous learning process towards better efficiency and performance are the three things that SMEs must be committed to in order to sustenance and improve their financial performance and strategic coherence, this paper argues that SMEs need to adopt sound budgeting practices. These recommendations emphasize the need for greater managerial involvement in planning and allocation, and also recommend information technology to facilitate effective and refined budgeting strategies. Such research has been important for SMEs most especially to improve their budgetary management abilities to scale their productivity. Aside from the improvement of the budgeting process, the results of this study can also be useful, as the budgetary functions conducted in this research will be useful for reducing costs and help SMEs to improve.