Budgeting as a toolfor effective management investment activity of enterprises railways

In this article, the authors evaluated the budgeting process as a tool for effective investment management of railway transport. Given the interpretation of "budgeting", its basic definition, direction and execution conditions. The analysis of recent publications and studies it was observed that at the present stage of economic development is budgeting at the micro level, at the level of the enterprise, the most attention. The authors note that budgeting is not in any way replace the control system, and only generates a new management approach that allows to objectively evaluate the activities of the company, timely identification of "weak" places provide enterprises adapt to external changes and minimize their negative impact.