{"id":9308,"date":"2018-05-20T19:30:32","date_gmt":"2018-05-20T16:30:32","guid":{"rendered":"https:\/\/modecon.mnau.edu.ua\/?p=9308"},"modified":"2018-05-21T10:38:41","modified_gmt":"2018-05-21T07:38:41","slug":"budgeting-in-financial-resources-management","status":"publish","type":"post","link":"https:\/\/modecon.mnau.edu.ua\/en\/budgeting-in-financial-resources-management\/","title":{"rendered":"Penyak Y., BUDGETING IN FINANCIAL RESOURCES MANAGEMENT"},"content":{"rendered":"

[vc_row][vc_column][vc_column_text]JEL Classification:<\/strong> \u041d61; \u041c11; \u041c21.<\/p>\n

Penyak Y., <\/strong>Candidate of Economics, Associate Professor, Department of Accounting and Taxation, Kharkiv Institute of Education and Science, University of Banking, Kharkiv, Ukraine<\/p>\n

BUDGETING IN FINANCIAL RESOURCES\u00a0 MANAGEMENT<\/strong><\/p>\n

Introduction. <\/strong>One of the most promising ways to manage financial flows of enterprises is increasingly called the budget method, or budgeting. It should be borne in mind that under budgeting now is understood not only the planning of financial resources, but rather a complex process that seamlessly\u00a0 combines both\u00a0 functions of planning and operational management of finances.<\/em><\/p>\n

Purpose.<\/strong> The purpose of the article is to study the main areas of budgeting in the management of financial resources of the enterprise on the basis of studying theoretical and practical aspects of this problem.<\/em><\/p>\n

Results. <\/strong>Potential of budgeting is quite sufficient for solving such important interrelated problems as: financial provision of the planned measures for the budget period; formation of rational structure of fund sources\u00a0 of enterprises to finance necessary expenses and provide the required incomes level; effective distribution of limited financial resources between structural units, as well as types of activities; flexible response to the change of external factors, both positive and negative; coordination and effective integration of the activities of the management structures responsible for different areas of the company’s business; maintenance of the company\u2019s current financial balance.<\/em><\/p>\n

Conclusions.<\/strong> It is established that for enterprises with a significant number of separate units and spheres of activity the most effective way is to introduce a complete budgeting system, since budgeting provides the maximum possible achievement of the following aspects: action coordination between departments is improved, the directions related to their activities are coordinated; expediency and efficiency growth when making any managerial decisions; improvement of financial results due to income and expense management on operational level, a more rational allocation of resources, cost optimization and operational control over fixed and variable costs; solvency improves as a result of effective cash flow management, and so on.<\/em><\/p>\n

Keywords:<\/strong> budgeting, financial resources, planning, budget, management.<\/strong><\/em><\/p>\n

References:<\/strong><\/p>\n

    \n
  1. Hudz’, O. Ye. (2015), \u201cDiahnostyka ta upravlinnia finansovym potentsialom pidpryiemstva\u201d, Oblik i finansy, <\/em>1, pp. 71-76.<\/li>\n
  2. Buhas, N. V. (2012), \u201cBiudzhetuvannia iak efektyvnyj instrument upravlinnia vytratamy\u201d, Ekonomika, <\/em>5, pp. 190-193.<\/li>\n
  3. Blank, I. A. (2011), Osnovy finansovoho menedzhmentu<\/em> [Fundamentals of Financial Management], El’ha, Nika-tsentr, Kyiv, Ukraine.<\/li>\n
  4. Stetsiuk, P. A. (2009), Stratehiia i taktyka upravlinnia finansovymy resursamy sil’s’kohospodars’kykh pidpryiemstv<\/em> [Strathethia and tactics upravlinnia finansovymy resursamy sil’s’kohospodars’kykh pidpryiemstv], NNTs IAE, Kyiv, Ukraine.<\/li>\n
  5. Kolisnyk, M. (2015), Stratehii, z iakymy peremahaiut’<\/em> [Strategies that win ], Maksymum, Kyiv, Ukraine.<\/li>\n
  6. Shvajka, L. A. (2016), Planuvannia diial’nosti pidpryiemstva<\/em> [Planning of enterprise activity], Novyj Svit \u2013 2000, L’viv, Ukraine.<\/li>\n
  7. Dzhaj, K. Shtym and Dzhon H. Sihel (2016),<\/em> Osnovy komertsijnoho biudzhetuvannia <\/em>[Basics of Commercial Budgeting], Perhament, Per. z anhl. \u2013 SPb.<\/li>\n
  8. Brimson, J. A. and Antos, J. <\/em>(1999), Driving Value Using Activity-Based Budgeting<\/em>, Wiley, New York, UK.<\/li>\n
  9. \u201c\u0415\u2013conomic online accounting in brief\u201d [Online], available at: http:\/\/www.e\u2013conomic.co.uk\/accountingsystem\/glossary\/current\u2013assets. (Accessed 2 April\u00a02018).<\/li>\n
  10. \u201cGuidelines On Accounting Policy For Valuation Of Assets Of Government Trading Enterprises. Using Current Valuation Methods\u201d, available at: http:\/\/www.pc.gov.au\/research\/completed\/deprival\/deprival.pdf<\/a>. (Accessed 12 April 2018).<\/li>\n
  11. Arkhypov, A. I. and Pohosov, I. A. (2008), \u201cMetodolohiia upravlinnia finansovymy resursamy pidpryiemstv\u201d, available at: https:\/\/ reci.pp.ua\/166-metodologiya-upravleniya-finansovyimi-37229.html. (Accessed 2 April 2018).<\/li>\n<\/ol>\n
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    [vc_row][vc_column][vc_column_text]JEL Classification: \u041d61; \u041c11; \u041c21. Penyak Y., Candidate of Economics, Associate Professor, Department of Accounting and Taxation, Kharkiv Institute of Education and Science, University of Banking, Kharkiv, Ukraine BUDGETING IN FINANCIAL RESOURCES\u00a0 MANAGEMENT Introduction. One of the most promising ways to manage financial flows of enterprises is increasingly called the budget method, or budgeting. It
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