Subbotina Kseniya Evgen'evna1, Zhdanova Anna Borisovna2
1National Research Tomsk Polytechnic University, student
2National Research Tomsk Polytechnic University, PhD in Economics, Assistant Professor of the Management Department

The article treats of the need for the implementation of financial planning as a basic management tool in a competitive environment and present instability. Several definitions of the term "budgeting" from different perspectives are given. The goals and functions of budgeting, through which it exerts its economic substance, are described. Also there are described current budgeting models and their advantages and disadvantages. The key problems of the traditional budgeting are identified, and new tools and techniques to replace it are proposed. Hereinafter each proposed method, its specifics and principles are described in more detail.

Keywords: balanced scorecard, beyond budgeting round table, budgeting, budgeting models, financial planning, management tools, managing for value, moving budgeting

Category: Economics

Article reference:
Modern Approaches to Budgeting as a Method of Financial Control // Humanities scientific researches. 2014. № 5 [Electronic journal]. URL:

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