Toward Financial Optimization: Assessing the Influence of Budget Process on Effective Accounting Management

Thi Thanh Thao Nguyen
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Thi Thanh Thao Nguyen: Hanlim Vietnam Co., https://orcid.org/0009-0001-7624-4314

Management Dynamics in the Knowledge Economy, 2024, vol. 12, issue 2, 116-132

Abstract: This study analyzes the pivotal role of the budget process in effective accounting management and advocates for tailored strategies to fortify Vietnamese enterprises amidst global competition, thereby charting a course towards sustainable development. It delves into the intricate relationship between budget process and accounting approaches within Vietnamese enterprises, highlighting their crucial role in achieving sustainable growth and prosperity. Effective management of this interplay, including elements such as the Budget Process, Planning, Implementation, and Control, is essential for optimizing Accounting Management for Vietnamese Enterprises. Tailored strategies are emphasized as vital tools for navigating the challenges posed by global competition, enabling enterprises to pursue sustainable development objectives. By integrating budget process with accounting practices, businesses can enhance strategic decision-making and position themselves for success amidst dynamic market conditions. Overall, the study underscores the necessity for Vietnamese enterprises to align these two domains to unlock their full potential for sustained success, driving long-term prosperity and growth in the contemporary business landscape. This research also provides theoretical groundwork for future researchers as well as businesses to apply for adjustments in budget management to enhance the effectiveness of administrative operations.

Date: 2024
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