We examine whether budgets affect individual learning in balanced scorecard (BSC) preparers for the purposes of scorecard target setting. Control systems research has called for studies examining the impact of multiple controls on common decision‐making phenomena. Given this, are there other cybernetic controls (budgets) that might influence the decisions of BSC preparers? From an experimental study involving 235 postgraduate university candidates, our findings suggest that the awareness of progressively greater budget information amongst BSC users in high uncertainty environments engenders greater individual learning about the organisation, altering BSC preparer target‐setting choices. Interestingly, this learning does not necessarily lead to better budget‐actual outcomes, but informs BSC preparers of the constraints facing the organisation from a funding ‘supply side’ perspective. The oft‐criticised budget, even within high uncertainty conditions, facilitates learning in a BSC system originally purported to replace or advance the traditional system. Finally, we contribute more broadly to a growing literature evidencing the appropriateness of budgets in flexible environments, by arguing for its impact on other performance management systems.