Effective budgeting as a priority of the company›s development

In the modern world, in the conditions of economic instability and fierce competition, companies need to have effective tools that can provide an opportunity to study the current financial condition, compare cash inflows and outflows, approve the right decisions that contribute to the subsequent formation and development of the enterprise, as well as optimize management costs. In a company, such an important tool for financial planning, as well as control, is budgeting.
This article discusses the tasks, goals, methods, disadvantages and advantages of budgeting, illustrates the full continuous cycle of budget management and the stages of development of the concept of budgeting. In addition to the theoretical aspects, the article considers the empirical and methodological aspects. The purpose of this article is to generalize the theoretical provisions and develop the organizational and methodological aspects of the application of budgeting and the impact of effective budgeting on the development of the overall company. The article uses complex and systematic approaches to the processes and phenomena under study, which is achieved through the methods of analysis and synthesis, review and collection of information, statistical analysis, scientific abstraction and visualization.
In the conclusion of the article, the conclusions are made, that a properly formed concept of budgeting, improvement of methods and elements of the budget process will make it possible to manage the capital, as well as a single commercial, and the company as a whole, establishing the sequence of business types, terms and trends of restructuring. This will allow the owners of companies to adapt their business in time to all possible changes in market conditions.

1. Bocharov V.V. Financial planning and budgeting: textbook.manual for bachelors of all forms of training in the specialty «Finance and credit» / V. V. Bocharov. - St. Petersburg: SPbGEU Publishing House, 2013

2. Stoyanova E.S. Financial management: theory and practice. 5th ed., reprint. and additional - M.: Perspektiva, 2013. - 656 p.

3. Blank I.A. Fundamentals of financial management. 2 volumes, 4th ed., - M.: Elga, Omega-L, 2012. -1330 p.

4. Volkova O.N. Budgeting and financial control in commercial organizations. - M.: Finance and Statistics, 2005. - 272s.

5. Dobrovolsky E., Karabanov B., Borovkov P., Glukhov E., Breslav E. Budgeting: step by step. - St. Petersburg: «Peter», 2010. -480 p.

6. Savostina O.V., Volkova M.A. Development of theoretical and methodological foundations of operational budgeting of industrial enterprises ‘ production activities // Economics and Management: problems, solutions. 2018. Vol. 4. No. 3. pp. 106-110.

7. Gasanov G.I. Budgeting as a tool of financial planning at the enterprise. 2016. No. 11. pp. 1828-1833. URL: https://moluch.ru/archive/115/31265/ (accessed: 28.11.2019).

8. Voronova M.A. Stages of setting up a budgeting system for a cooperative organization. - 2015. - No. 7.3.

9. Brusov P.N., Filatova T.V. Financial management. Financial planning. (for bachelors). Training manual. Publishing house: Cambridge University press, 2016. Series the Bachelor. -232с.

10. Yarovov V. V., Zhukov N. In., Kurbatov, V. A. Modern approaches to the management of the budgeting process in a production plant // Bulletin of the Tula financial University. 2018. No. 1. P. 542-545.

11. Shcherba T.A., Kosykh V.V. Improving the budgeting system at production enterprises // Economic and management issues. 2016. No. 3-1. pp. 91-96.

12. Mayevskaya E.B. Strategic analysis and budgeting of cash flows of commercial organizations: Monograph / E. B. Mayevskaya. - M.: Infra-M, 2018. - 256 p.

13. Ladygin V.V. Budgeting and control at the enterprise. - M.: LENAND, 2020. - 530 p. / / [Internet resource] URL: http://urss.ru/253247

14. Samsonov N.F. Financial management. Enterprise Finance: textbook. Moscow: INFRA-M, 2017. 364 p.

15. Ilyin A.I. Planning at the enterprise: a textbook. 8th ed., ispr. i dop. Mn.: Novoe znanie, 2018. 700 p.

16. Gasanov, G. I. Budgeting as an instrument of financial planning at the enterprise. - 2019. - No. 11. - p. 1828-1833.

17. Bocharov V.V. Commercial budgeting: textbook. St. Petersburg: Peter, 2013. 368 p.

18. Ermilova M.I. Intra-corporate financial planning and budgeting. Textbook / M. I. Ermilova, E. O. Azizi, M. E. Kosov. - M.: Unity, 2018. - 336 p.

19. Andreev R.N. Economic essence and principles of budgeting / Modern trends in the development of science and technology. 2017. No. 3-11 (24). pp. 36-38.

20. Dudka E.S., Natarova E.V. Budgeting as a method of effective planning of enterprise activity. - 2019. - No. 1. - pp. 351-357.

21. Stoyanova E.S. Financial management. 6th ed. Moscow: Perspektiva, 2018. 656 p.