IMPROVING COST BUDGETING IN ECONOMIC ENTITIES
Abstrakti
Cost budgeting is a fundamental aspect of financial management for economic entities, guiding resource allocation and supporting strategic decision-making. However, many organizations face challenges in accurately forecasting costs, ensuring transparency in budgeting processes, and aligning budgets with strategic objectives. This thesis examines the current landscape of cost budgeting practices in economic entities and proposes strategies for improvement. Through a comprehensive review of literature, analysis of industry practices, and empirical research, key challenges and potential solutions are identified. The findings highlight the importance of integrating technology, aligning cost budgets with strategic objectives, and investing in employee training and development to enhance the effectiveness of cost budgeting processes. By addressing these challenges and implementing innovative approaches, organizations can improve their ability to manage costs effectively, allocate resources efficiently, and achieve their strategic goals. This research contributes to the body of knowledge on cost management practices and provides practical insights for economic entities seeking to enhance their financial performance and decision-making capabilities in today's dynamic business environment.
Lataukset
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