Concept Of Budgeting – A Guide To The Success Of Future Business Results

Zdravkoski, Igor and Markusoski, Ljupce and Lazaroski, Spiro and Nikolovski, Pece and Andonovski, Miroslav (2020) Concept Of Budgeting – A Guide To The Success Of Future Business Results. In: IBANESS XIV, September, 2020, Plovdiv, Bulgaria.

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Numerous activities take place in large organizations, but also in various enterprises.
But one particularly important activity is accounting planning or budgeting.
This means that the operation of enterprises is based on analysis, with special reference to cost-benefit analysis.
Namely, budgeting has its own specifics, and from all of them it is necessary to emphasize the balanced principle of planning.
In fact, planning always starts with a balance sheet, a planned income statement, and a cash flow statement.
In essence, the term accounting planning in our country in Macedonian literature and budget practice and budgeting differ.
However, for a long time the difference between these terms has been overcome.
For that reason, as well as due to the unification of accounting in the Western developed world with us, the term accounting planning has been replaced by the term budgeting.
Planning is understood as the scope of planned costs and planned outcomes.
Namely, budgeting, ie accounting planning is a complete set of activities that quantify the tasks of the organization in advance (ahead of time).
In fact, budgeting allows for early relief from certain difficulties, as well as achieving business efficiency. It then allows for work harmony, operational efficiency, and minimizing problems.
Namely, the budgeting compares the planned and actual results, greater control is achieved, but as accurate results as possible are determined.
Therefore, budgeting and the use of planning and factual data create invaluable benefits for business management.
Keywords: budgeting, results, success, development, future.

Item Type: Conference or Workshop Item (Paper)
Subjects: Scientific Fields (Frascati) > Social Sciences > Economics and Business
Divisions: Faculty of Economics
Depositing User: Mr Dimitar Risteski
Date Deposited: 09 Mar 2023 09:47
Last Modified: 09 Mar 2023 09:47

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