APPLIED ASPECTS OF ACCOUNTING BUDGETING

Authors

Keywords
accounting budgeting, accounting staff, operating budgets, financial budgets.

Abstract
Unlike Bulgarian accounting theory and practice, global accounting theory and practice treat budgeting and analysis as a whole. The situation in our country in recent years has introduced a new concept of business budgeting. Managers already need to have a plan for the operation of an entity in following and future reporting periods and to link corporate planning and the process of performance assessment. Accounting staff have felt a strong need to set budget indicators and to compare actual performance to these budget indicators. In this way, the concept of "accounting budgeting" has been gradually introduced in our country. It refers to the process of determining the quantity and value of sales, production, costs, investments in non-current tangible and intangible assets, current assets and liabilities, cash receipts and payments and more. The end result, or the so-called product of the budgeting process, is presented on paper in the form of a document named "a budget" (a plan).

JEL: M 41.
Pages: 19

To view the full text of the article click on the relevant button below.

More titles

  • THE POWER BETWEEN KNOWLEDGE AND CONFORMITY

    This article is dedicated to the phenomenon of “power.” At the beginning, power is discussed in more general terms as the “purposeful impact on people” is emphasised. Then we move on to knowledge as the only source of high-quality power in comparison to the other two “supreme” sources, namely force and wealth, as opportunities are sought for its ...

  • AN ANALYSIS OF THE POSSIBILITIES FOR THE DEVELOPMENT OF INFORMATION SYSTEMS IN COMPANIES AND ORGANISATIONS

    The development of information systems requires a lot more than implementing a particular technology or finding an information solution. What are also necessary is a deep strategic approach and an analysis of the possibilities and objective difficulties. One important condition in this process is the fact that the development of an information ...

  • SUPPLEMENTARY PENSION INSURANCE – INDIVIDUAL OR COLLECTIVE ALLOCATION OF THE PENSION FUND

    Three financial coverage systems are known and applied in the theory and practice of pension insurance: cost coverage, capital coverage and premium coverage. These systems show how operating pension costs will be allocated over time as well as among those insured. The common thing between them is that they are based on a large aggregate insurance ...