Results found: 2

Search results

Search:
in the keywords: budgeting process

Sort By:

Limit search:

The budgeting processes of Czech companies: the role of the ownership structure and foreign capital

100%

Dokulil J., Popesko B., Dvorský J.

Oeconomia Copernicana

2020

vol. 11

issue 4

779-798

Research background: The study investigates the initial phase of budgeting process conducted in corporations. The basic concept correlates with findings in scientific literature that describe budgeting as an inefficient tool, burdened by considerable regulation in the preparation and compilation stages. As a consequence, the majority of academics and practitioners have concluded that producing a budget is merely a formality that minimizes wrinkles on the faces of their initiators, while reaping debatable benefits for managerial control. Purpose of the article: This paper compares data from the literature with the actual budgetary practices of companies operating in the Czech Republic. The attention was paid to the detailed aspects of the budgeting process, factors affecting the time it takes to prepare a budget, and the impact of ownership structure, especially the role of foreign ownership and foreign capital, on the level of decentralization in the budgeting process. Methods: The authors examined these topics through a questionnaire completed by 136 respondents, primarily industrial companies based in the country. The subsequent hypotheses were assessed via application of the Z-test. Findings & Value added: The results presented show that the budgeting practices of the Czech firms are not only influenced by traditional factors (e.g. the size of the company and its given economic sector), but also certain other aspects. Essential facets comprise the ownership structure and the share of foreign capital involved, the latter affecting the extent of autonomy of the business as to the budgetary process. This submitted paper can extend the current theory with new findings on the specific nature of budgeting in post-socialist countries with an open economy and the significant influx of foreign capital.

РОЛЬ БЮДЖЕТНОГО ПЛАНИРОВАНИЯ В СЕЛЬСКОХОЗЯЙСТВЕННЫХ ПРЕДПРИЯТИЯХ

51%

Гвоздей Н., Рыбчак Е.

Zeszyty Naukowe PWSZ w Płocku. Nauki Ekonomiczne

2017

vol. 2(26)

153–164

В статье рассматриваются основные этапы и составляющие процесса бюд- жетирования напредприятиях. Способ бюджетирования на предприятиях, бу- дет обеспечивать оптимальную струк- туру на долгосрочную и прибыльную работу на рынке.. Кроме того, суще- ствующие методические рекомендации не в полной мере учитывают отрасле- вые особенности и текущее финан- совое положение большинства сель- скохозяйственных предприятий, что затрудняет их практическое создание. Научное обоснование и методическиеподходы к внедрению бюджетирования в практику финансового управления предприятий сельского хозяйства явля- ются обоснованными.

The article considers the main stages and components of budgeting in enterprises. The way of its arranging that will provide an optimal structure is proposed depending on directions and the strategy of enterprise activities for long-term and profitable performance in the market. The objective necessity of using management control tools and analysis of financial activity, one of which is the organization of the budgeting system, are shown. It is found that there are essential contradictions between study aids and recommendations on budgeting. In addition, the existing methodical recommendations do not take full account of branch specific features and current financial position of most agricultural enterprises which complicates their practical establishment. The scientific background and methodological approaches to budgeting implementation in practice of the financial management of agricultural enterprises are substantiated.

Refine search results

1 Oeconomia Copernicana

1 Zeszyty Naukowe PWSZ w Płocku. Nauki Ekonomiczne

1 Dokulil J.

1 Dvorský J.

1 Popesko B.

1 Гвоздей Н.

1 Рыбчак Е.

1 2020

1 2017

Search results

The budgeting processes of Czech companies: the role of the ownership structure and foreign capital

РОЛЬ БЮДЖЕТНОГО ПЛАНИРОВАНИЯ В СЕЛЬСКОХОЗЯЙСТВЕННЫХ ПРЕДПРИЯТИЯХ