Бюджетирането като инструмент на финансовото планиране на предприятието
Budgeting as a tool of financial planning of the enterprise

Summary/Abstract: The article discusses the budgeting process as a vital component of an enterprise’s control system through which management successfully plans, coordinates, and controls the implementation of the organization’s goals. The total (master) budget, which coordinates the functions of all units in the enterprise and its components – the operating and financial budgets are presented. The evolution of the budgeting approaches in the enterprise is followed by examining the advantages and disadvantages of the individual budgeting approaches. As a result, a multi-budget approach has been proposed combining the strengths of individual approaches.

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