AbzhanovaA K,Master of Finance, Senior Lecturer

Kostanai State University by Akhmet Baitursynov

THE BASIC PRINCIPLES OF BUDGETING AT THE ENTERPRISE

Budgeting system for each company is unique in its kind, since it depends on the specifics. Budgeting business enterprise makes managers to anticipate problems before they arise. Due to this, should be minimized unprepared financially unreasonable decisions. Budgeting system allows you to receive full information about the necessary financial and material resources, allows to predict periods with their deficit and take appropriate action (shift in time payments at a later date, taking loans, increased sales, etc.).

Budgeting is possible only when well-organized system of transfer of information between departments. Each employee is responsible for a specific string of private budget should clearly understand their role in shaping the company's budget as a whole. Comparing actual results with the planned budget information, you can determine what costs are significantly different from the plan and require careful analysis, thus it is advisable to use the method of management by exception. The analysis, studied the causes of deviations inefficiency. Then decisions to ensure correct the situation. Can identify the main factors that make budgeting system each company unique : limitations that affect activities of the company (sales, production capacity, etc), type of activity, strategic objectives, information needs of management, the size of the enterprise and control system.

Building a budget model of must begin with consideration of the most significant constraints defining performance. The limitations include: existing market volume of effective demand for products; production capacity, availability of qualified personnel, the availability of raw materials.

For most companies, the most significant limitation - the available volume of effective demand, according to which the budget is formed sales. In this case, all other components of the budget depends on the sales budget. But such a situation, characteristic only for the so-called buyer's market, where supply exceeds demand. Unsaturated markets for other restrictions, for example, production capacity or availability of raw materials.

Generalizing the practical experience and techniques of consulting firms can offer the following structure of the company's budget. The main documents of complex enterprise budget are: cash flow budget, budget profit / loss; planned aggregate balance sheet. These planning documents are required. Background information for the calculation of these budgets are following operating budgets of the Company : sales (shipment of finished and semi-finished products and the cash flow); production; inventories; direct materials; overhead cost, direct labor costs, selling expenses; administrative expenses. Stages of development of the company's budget. Enterprise budgeting process usually takes place as follows. First of all, on the basis of economic and financial strategy of the company formed by the target setting for a specified period of planning (eg, year, month). These plants can be brought to the marketing department, production units, planning and economic services, etc. Service managers must ensure that the target systems.

At the next stage the sales budget. If a budget is not established, the financial planning (budgeting) is practically meaningless. Detailed budget of sales generated in the commercial service of the company (marketing departments, marketing), then enlarged sales budget is prepared and transmitted to the economic planning department. In addition, the commercial service generates budget business expenses - advertising, sales promotion, salary and other selling agents.

On the basis of the sales plan formed the production plan in real terms, as well as the budgets of inventories and direct material costs (raw materials), the budget to pay for the direct costs of raw materials. If we add to these budgets budget overhead cost, the information received will be sufficient for formation of the production cost of production. Thus, we can already form part of budget income. Here calculated budget management costs : depreciation, salaries of administrative staff, interest on loans, taxes, etc. In the next step is carried out the final formation of the budget profit and loss, cash flow budget and planned aggregated balance.

Even the most careful design of the company's budget does not guarantee its execution. That the budget was executed, you need to implement procedures that will ensure the achievement of targets. Can single out the following basic procedures for budget execution : management of contracts, payments, reserves and extraordinary events, authorization of transactions, checking them against the budget, operational planning and accounting and fiscal adjustment.

Features of formation of the company's budget. Central place in the risk assessment at the stage of the enterprise budget analysis and forecasting occupy possible loss of resources. Thus there is an occasional, unexpected losses arising from deviations from the real situation, the intended course of events. Most important in a market economy is assigned to elements of risk, as the unpredictability of market condition, demand, prices. At the same time companies have to deal with the "imposition" of market and nonmarket factors like (breach of contract, failure to comply with the rules and regulations of economic activity, etc).

Thus, to estimate the probability of loss due to unexpected developments embodiment, it should be, above all, to identify all possible risk factors as inherent in general economic or industrial and commercial activity, and specific. All possible risk factors in practice divided into two groups: 1) to external risk factors (or weak signals) are factors that caused reasons not directly related to the activities of the enterprise, depending on the economic and political situation in the country, and 2) to the internal risk factors (or strong signals) are considered factors, the occurrence of which is generated by the activities of the enterprise, ie risks associated with the object itself. To increase the flexibility of the enterprise to the influence of external and internal influences on the necessary steps to develop the budget measures that would quickly and with minimal losses to offset the negative changes for the company.

When preparing the budget, it is important to consider the factor units should be coordinated with the business processes within these units. Deadlines budgets also defines CFO. He should discuss them directly with each head of the structural unit.

Thus, for the organization of the system analysis and planning of cash flows in the enterprise market conditions adequate to the requirements necessary to create a modern financial management system, based on the development and monitoring of a hierarchical system of the company's budget. The system allows you to set budgets and current hard -line monitoring the receipt and expenditure of funds to create real conditions for the development of an effective financial strategy.

Typically, the budget process begins with a sales budget. On the basis of this budget is determined by the production program of the enterprise, as well as the need for production facilities, personnel, raw materials costs are calculated on the service unit. At the next stage the budget cost of production, procurement budget and other budgets that are part of the operating budget. On the basis of the operating budget creates financial budget.

Most management decisions related to the financial activity of the company is taken under risk due to several factors: the lack of complete information, the presence of conflicting tendencies, the elements of chance and many others.

In connection with this problem of valuation and accounting of economic risk becomes important as part of management theory and practice. Given the instability problem of risk is important in justifying management decisions not only strategic, but also at the stage of short-term business planning - in the budgeting process.

Because, as allocated responsibility between the company depends largely on the effectiveness of budgeting. In order to properly regulate this process, it is important to know the basic principles and time. Procedure for reporting managers and provide for possible errors.

Literature:

1. minfin.kz. - Methodology Department budgetary procedures of the Ministry of Finance of the Republic of Kazakhstan

2. Iskakova Z. Financial Academy. // Finance of Kazakhstan, in 2013. - № 3 (27) in March