Performance management through budgets. Drafting and launching the company’s sales budget
In the economic activities enterprises set goals which, if achieved, enable performance improvement. In this regard, it becomes necessary to develop forecasts mentioned in budgets, which are used as tools for enterprise performance management. Creating an effective budget system, closely related to...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Chamber of Financial Auditors of Romania
2016-07-01
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| Series: | Audit Financiar |
| Subjects: | |
| Online Access: |
http://revista.cafr.ro/temp/Article_9490.pdf
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| _version_ | 1811304492815089664 |
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| author | Adriana Mihaela IONESCU Cristina Elena BÎGIOI |
| author_facet | Adriana Mihaela IONESCU Cristina Elena BÎGIOI |
| author_sort | Adriana Mihaela IONESCU |
| collection | DOAJ |
| description | In the economic activities enterprises set goals which, if
achieved, enable performance improvement. In this
regard, it becomes necessary to develop forecasts
mentioned in budgets, which are used as tools for
enterprise performance management. Creating an
effective budget system, closely related to the medium
and long-term plans of the company, is the key to
profitable economic activity, which allows to find the right
path to achieving the proposed objective and to promptly
detect any obstacles. The budget is thus a strategy to
improve performance by achieving better productivity,
more efficient money spending, and to motivate
employees to fulfil the budgetary provisions.
In the process of budgeting, the starting point is the
sales budget, based on the sales program to which the
company aims. Within it, the quantity, the selling price
and the projected turnover are broken down into
different time periods. Preparing a budget of marketing
expenditures constitutes a logical consequence of the
commercial activity as defined in the sales budget, thus
allowing the establishment of the costs for the sale of the
company’s products and the commercial margin. |
| first_indexed | 2024-04-13T08:07:01Z |
| format | Article |
| id | doaj.art-74fa6eb2484b4f64a5b8524275a3528f |
| institution | Directory Open Access Journal |
| issn | 1844-8801 |
| language | English |
| last_indexed | 2024-04-13T08:07:01Z |
| publishDate | 2016-07-01 |
| publisher | Chamber of Financial Auditors of Romania |
| record_format | Article |
| series | Audit Financiar |
| spelling | doaj.art-74fa6eb2484b4f64a5b8524275a3528f2022-12-22T02:55:07ZengChamber of Financial Auditors of RomaniaAudit Financiar1844-88012016-07-011413978979910.20869/AUDITF/2016/139/7899490Performance management through budgets. Drafting and launching the company’s sales budgetAdriana Mihaela IONESCU0Cristina Elena BÎGIOI1 University Politehnica of Bucharest University Politehnica of Bucharest In the economic activities enterprises set goals which, if achieved, enable performance improvement. In this regard, it becomes necessary to develop forecasts mentioned in budgets, which are used as tools for enterprise performance management. Creating an effective budget system, closely related to the medium and long-term plans of the company, is the key to profitable economic activity, which allows to find the right path to achieving the proposed objective and to promptly detect any obstacles. The budget is thus a strategy to improve performance by achieving better productivity, more efficient money spending, and to motivate employees to fulfil the budgetary provisions. In the process of budgeting, the starting point is the sales budget, based on the sales program to which the company aims. Within it, the quantity, the selling price and the projected turnover are broken down into different time periods. Preparing a budget of marketing expenditures constitutes a logical consequence of the commercial activity as defined in the sales budget, thus allowing the establishment of the costs for the sale of the company’s products and the commercial margin. http://revista.cafr.ro/temp/Article_9490.pdf Forecastperformancesales budget turnovercosts. |
| spellingShingle | Adriana Mihaela IONESCU Cristina Elena BÎGIOI Performance management through budgets. Drafting and launching the company’s sales budget Audit Financiar Forecast performance sales budget turnover costs. |
| title | Performance management through budgets. Drafting and launching the company’s sales budget |
| title_full | Performance management through budgets. Drafting and launching the company’s sales budget |
| title_fullStr | Performance management through budgets. Drafting and launching the company’s sales budget |
| title_full_unstemmed | Performance management through budgets. Drafting and launching the company’s sales budget |
| title_short | Performance management through budgets. Drafting and launching the company’s sales budget |
| title_sort | performance management through budgets drafting and launching the company s sales budget |
| topic | Forecast performance sales budget turnover costs. |
| url |
http://revista.cafr.ro/temp/Article_9490.pdf
|
| work_keys_str_mv | AT adrianamihaelaionescu performancemanagementthroughbudgetsdraftingandlaunchingthecompanyssalesbudget AT cristinaelenabigioi performancemanagementthroughbudgetsdraftingandlaunchingthecompanyssalesbudget |