CONCEPTUAL PROBLEMS OF BUDGETING FINANCIAL RESULTS IN FOOD PROCESSING ORGANIZATIONS

Abstract

At the initial stage of formation, budgeting of financial results in organizations aimed to define financial responsibility centers, which should be accountable for negative deviations arising from established estimates. They could be cost centers or profit centers. However, at present, budgeting functions are not limited only to the sphere of control, but also include other managerial function, such us regulation, risks mitigations and even motivation. The article substantiates the consideration of budgeting of financial results in the field of food industry as a means of financial management, which becomes applicable in the process of regulating the value chain of the business model.