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0УДК 33 Rahmanberdiyev Sh., Seyitmyradova G., Dowletov O.
Rahmanberdiyev Sh.
teacher of the department of Economic management in enterprises Turkmen State Architecture and Construction Institute (Ashgabat, Turkmenistan)
Seyitmyradova G. teacher of the department of Economic management in enterprises Turkmen State Architecture and Construction Institute (Ashgabat, Turkmenistan)
Dowletov O.
student faculty of Economics and Management Turkmen State Architecture and Construction Institute (Ashgabat, Turkmenistan)
DEVELOPING A BUSINESS FINANCIAL PLAN AND ANALYZING ITS EFFECTIVENESS
Аннотация: this article provides a brief overview of developing a business financial plan and analyzing its effectiveness. Also, the budget system of the company, as it will be the rule in the future, talks about the activities of the enterprise in one year.
Ключевые слова: economics, management, business economics, finance, financial account, assets, intangible assets, competitiveness.
A budget is a cost-effective, quantified expression of the production, purchasing, distribution, and planning necessary to achieve the company's goals. The company's budget system consists of a financial model aimed at achieving predetermined goals of the enterprise's business in the future (usually in one year).
Budgeting is part of a formal goal-setting system of company management, where the goal is divided into a set of business plans and an operational period. In this case, the budget plays two roles: firstly, it sets the objectives of the company's activity divided into fragments into separate financial functions and functions, and secondly, it is a control tool of managers based on the analysis of the so-called deviations of the actual performance from the budgeted indicators.
In order to establish a budgeting system and ensure its operation, a company can be represented in a structure called a financial structure consisting of separate responsibility centers. The financial structure is a system of responsibility centers that describe the entire company, the financial responsibilities of individual managers arranged in a hierarchical order, as well as the subordination and hierarchy of budgets of responsibility centers. Responsibility center (JM) is a segment of the enterprise for which an internal evaluation system has been developed, whose work is the responsibility of a certain manager.
All responsibility centers of the enterprise can be grouped in this way, depending on the level of authority and authority of their managers. Company B is a profit center, the amount of investment is regulated at the holding level, and the responsibility of the manager of this company is to maximize the profit from the fixed amount of production capacity. A business, in turn, consists of a profit center, a variable cost center, and a fixed cost center
Depicting the financial structure of the enterprise, the sequence of iterations (repetitive) and steps for forming the company's budget for the next operating period can be formed as follows: 0 stage. Setting goals for the entire company, that is, setting goals for the CEO by the shareholders. Phase 1. Setting aggregated general goals for the coming year, breaking them down into tasks and areas of work. The flow of information is top-down, from the CEO to the units. Phase 2. Counter (bottom-up) movement of data. Recommendations on how to achieve the goals, constraints on achieving the goals, and requirements regarding the means needed to achieve the goals. As you move from the bottom up, there is an aggregation of data, which is aggregated into more general indicators. Phase 3. Functional budgets are
reconciled with each other (balance sheet) and they are finalized in the formats required at company level. Phase 4. Checking the budgets made against their original objectives. When there is a match like this - approval. Phase 5. It is also possible to make corrections in case of inadequacies and to make corrections to the goals. But often these are budget amendments (information flows back from the top down), counter-proposals to achieve goals (bottom-up), etc. This is an interactive phase, which is always iterative in nature and can occur at different intervals in length. This is where major time and resources are lost for budget preparation and here too companies face major challenges.
These challenges are pre-determined by business characteristics such as the following and can vary greatly in depth and difficulty: 1. Anticipation of the external and internal environment - the closeness of the ideas and perspectives of the company's future by the various managers involved in budgeting. 2. The complexity of the "individual" of the company - the number of responsibility centers and managers whose work must be coordinated and aligned with the overall budget. The more responsibility centers are divided in the financial structure, the longer it takes to reconcile their budgets. 3. The number of hierarchical levels predetermines how "far" the performance indicators are from the top management and initial distrust of the first budgets, as well as the willingness of "low-level" managers to "add" something to the budget (almost impossible to know).
СПИСОК ЛИТЕРАТУРЫ:
1. Law of Turkmenistan "On State Support of Small and Medium Entrepreneurs". - Ashgabat, 2009;
2. Law of Turkmenistan "On Enterprises". - Ashgabat, 2000
