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Budgeting Is A Key Element Of The Internal Control System

Author

Listed:
  • Babynina Halina Mikhailovna

    (“Belorussian State Economic University” UA Bobruisk branch, Republic of Belarus)

Abstract

Budgeting for a company is a key element of the internal control system and correction of strategic vector of business development. One of the problem of the budgeting is indirect costs planning. Correlation of indirect costs and production volume is difficult to trace. As a result department managers include excessive spending in a budget or vice-versa do not include some of them. Budgetary control allows to reveal “unauthorized” spending, negative tendencies, which guarantees for an enterprise getting planned financial result.

Suggested Citation

  • Babynina Halina Mikhailovna, 2015. "Budgeting Is A Key Element Of The Internal Control System," Annals of marketing-mba, Department of Marketing, Marketing MBA (RSconsult), vol. 4, December.
    • Handle: RePEc:mmb:journl:articl_v4_1_15
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    JEL classification:

    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies

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