RESOLVING PROBLEMS OF FINANCE PLANNING AND BUDGETING AT TODAY'S ENTERPRISE
https://doi.org/10.21686/2413-2829-2015-5-42-48
Abstract
Success of budgeting depends both on thorough compliance with all regulations and procedures of making up and checking budget performance and on the level of training and qualification of managers and executors of the budget process. The article depicts opportunities of managerial and marginal formats of budgets. It is shown that managerial format of principle corporate budgets can be used to calculate the planned figure of economic added value, free cash flow and other key values, while marginal format to carry out CVP analysis for the company in general and for separate types of products. The authors put forward recommendations aimed at coordinating finance figures with the motivation system. They stipulate the necessity to raise the quality of finance planning and budgeting, including cases of higher involvement of top management and ordinary employees in the budgeting process. Requirements to software used in the process of finance planning and budgeting automation were formulated. The field of application- the process of finance planning and budgeting at Russian enterprises.
About the Authors
Andrey V. Bistrov
Plekhanov Russian University of Economics
Russian Federation
Russian Federation
Doctor of Sciences, Professor, Head of the Department for Economy of Industry of the PRUE
36 Stremyanny Lane, Moscow, 117997, Russian Federation
Olga N. Likhacheva
Financial University under the Government of the Russian Federation
Russian Federation
Russian Federation
PhD, Assistant Professor of the Department for Corporate Finance of the Finance University
7 block 1 Maly Zlatoustinskiy Lane, Moscow, 101000, Russian Federation
Alla R. Esina
Plekhanov Russian University of Economics
Russian Federation
Russian Federation
PhD, Assistant Professor of the Department for Economy of Industry of the PRUE
36 Stremyanny Lane, Moscow, 117997, Russian Federation
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Review
For citations:
Bistrov A.V., Likhacheva O.N., Esina A.R. RESOLVING PROBLEMS OF FINANCE PLANNING AND BUDGETING AT TODAY'S ENTERPRISE. Vestnik of the Plekhanov Russian University of Economics. 2015;(5):42-48. (In Russ.) https://doi.org/10.21686/2413-2829-2015-5-42-48
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