Current Trends in Czech Firm's Budgeting Practices: The Survey Results

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F70883521%3A28120%2F16%3A63510182" target="_blank" >RIV/70883521:28120/16:63510182 - isvavai.cz</a>

Result on the web

—

DOI - Digital Object Identifier

—

Result language

angličtina

Original language name

Current Trends in Czech Firm's Budgeting Practices: The Survey Results

Original language description

Budgeting and planning belongs to the traditional tools of management accounting which are essential for the successful control of the business organizations. In recent decades we observe growing dissatisfaction with traditional budgeting concepts, based on annual bases and control functions. Traditional budgeting methods are very often criticized for the inflexibility and strong focus on resource allocation. Many research studies points at the necessity of adopting more sophisticated budgeting methods, which could contribute to better performance management and control of business organizations. Current trends lie in adopting flexible, decentralized budgeting systems, focused on the use of key performance indicators (KPI). The paper presents the initial results of the survey of Czech enterprise budgeting practices. The objective of the study was to compare firm's approach to their budgeting systems and intention of abandoning the traditional way of budgeting. The paper presents the results of the survey of Czech enterprise budgeting practices. The objective of the study was to analyze the current budgeting practices of the Czech firms and analyze the importance of the budgeting systems for company management. The first part of the paper presents the analysis of the trends in budgeting practices worldwide, which are based on shift from traditional budgeting methods and increasing use of alternative methods based on performance measurement. The main part of the study presents the results of the questionnaire survey of the Czech enterprises' budgeting practices performed by the authors with focus on the approach to the used budgeting system and its quality perception. Main objective of the survey is to find out if the Czech budgeting practices are featured with similar discontent which we can observe in literature and some foreign studies.

Czech name

—

Czech description

—

Type

D - Article in proceedings

CEP classification

AE - Management, administration and clerical work

OECD FORD branch

—

Project

—

Continuities

V - Vyzkumna aktivita podporovana z jinych verejnych zdroju

Publication year

2016

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection

Proceedings of the 3rd International Conference on Finance and Economics

ISBN

978-80-7454-598-6

ISSN

—

e-ISSN

—

Number of pages

15

Pages from-to

551-565

Publisher name

Univerzita Tomáše Bati ve Zlíně

Place of publication

Zlín

Event location

Ho Chi Minh City

Event date

Jun 15, 2016

Type of event by nationality

WRD - Celosvětová akce

UT code for WoS article

—