THE BUDGET, AN INSTRUMENT FOR PLANNING

Todea Nicolae () and Calin Anca ()
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Todea Nicolae: Univ. "1 Decembrie", Alba Iulia, Stiinte Economice
Calin Anca: Univ. Valahia, Targoviste, Stiinte Economice

Annals of Faculty of Economics, 2010, vol. 1, issue 2, 919-924

Abstract: The budget is a management instrument used by any entity, financially ensuring the dimension of the objectives, revenues, expenses and results at the management centers level and finally evaluating the economic efficiency through comparing the results with those budgeted for. A major component of the managerial control, the effectiveness of the budgeting process is reflected in the fact that: requires the strategic planning and implementing the plans, offers a frame of reference for performance evaluation, contributes to personnel motivation, encourages the coordination and communication.

Keywords: budget; management centers; managerial control; strategic planning (search for similar items in EconPapers)
JEL-codes: H61 (search for similar items in EconPapers)
Date: 2010
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