The concept and tools for assessing the value of money over time
Financial management requires the constant implementation of various calculations related to cash flows in different periods of time. The key role in these calculations is played by the time value…

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Monitoring and control of the change process
Leaders have at their disposal a variety of methods of intervention, with which they are able to facilitate the development and changes in individuals, groups and organizations. It is knowledge…

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Synchronization of management and financial accounting
In the past few years, more and more financial directors have been thinking about the issue of transferring management accounting and reporting of their enterprise to IFRS or at least…

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management system

Typical Budgeting Mistakes

For modern companies, the urgent task is the introduction and development of a budget management system. However, even in those firms where the budgeting process is sufficiently developed, employees often make mistakes. Therefore, bottlenecks are important to identify and correct in time.

Usually, the company faces the question: how to make the budget management system (SBU) as efficient as possible? To do this, it is necessary to find out what the budget management system is, what is its purpose and the conditions for successful functioning. A systematic approach to this issue will help to avoid many errors in the formulation and improvement of the SBU in the company.

Typical mistakes made at enterprises when budgeting can be divided into: Continue reading

Common mistakes made by managers
Question: “It seems to me that we have thought through the process of change to the smallest detail, but already at the first stages of the implementation of the plan…

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Integrated Reporting - A New Reporting Model for Business
The concept of integrated reporting has recently occupied the first pages of professional publications in the world of accounting. The global financial crisis has revealed the need for a new…

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Integration of company goals with budgeting
As a budget planning tool, managers can anticipate possible problems in the development of a company or business and find ways to solve them. These trends should be predicted in…

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Why motivate employees?
Any attempts to evaluate staff motivation are fraught with serious consequences for the management system. Everyone knows that with good quality work of employees and high productivity, research on motivation…

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