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The Concept of Budgeting in the non stable market environment
[Koncepce rozpočetnictví v nestabilním tržním prostředí]

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  • Jana Fibírová

Abstract

The aim of the Beyond Budgeting concept is to recognize mutual interconnections and relations of budgeting process as a whole, to design the management model of a company operating in turbulent market environment and to specify the principles, rules and tools of the model. The Beyond Budgeting is the management model which emphasizes strategic goal setting, rolling budgeting and performance management based on both financial and nonfinancial indicators and on its relative analysis and evaluation. Budgets are recognized as a starting point of the whole management process improvement. Integrating budgets with the real management system enables to attract the managers' interest in budgets and to understand the linkage of budgets to the entire management system, i.e. to comprehend the integrating function of budgets.

Suggested Citation

  • Jana Fibírová, 2013. "The Concept of Budgeting in the non stable market environment [Koncepce rozpočetnictví v nestabilním tržním prostředí]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2013(3), pages 99-109.
    • Handle: RePEc:prg:jnlcfu:v:2013:y:2013:i:3:id:373:p:99-109
    DOI: 10.18267/j.cfuc.373
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    References listed on IDEAS

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    1. Frow, Natalie & Marginson, David & Ogden, Stuart, 2010. ""Continuous" budgeting: Reconciling budget flexibility with budgetary control," Accounting, Organizations and Society, Elsevier, vol. 35(4), pages 444-461, May.
    2. Katarina Østergren & Inger Stensaker, 2011. "Management Control without Budgets: A Field Study of 'Beyond Budgeting' in Practice," European Accounting Review, Taylor & Francis Journals, vol. 20(1), pages 149-181.
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