Methodological approaches to the formation of budgeting principles in the main activities of the enterprise

Abstract

The relevance of the study of the principles of budgeting of production activities of the enterprise is due to the low level of planning of production and economic activities. First, it is worth noting the characteristics that implement the specified level. The formation of the vector and the proportion of positive trends in the production, considering the existing material and labor resources based on the extraction of the required market types, quantities, and timing of their release. Thanks to the competent development of budgeting in the enterprise, it is possible to assess in detail the financial viability of certain types of businesses and products, which will ultimately form a strong financial stability of the entire organization. The scientific novelty of the research lies in the analysis of the budgeting methodology in the clarification of specific principles in the field under study. Many Russian and foreign scientists have contributed to the formation and development of budgeting. Currently, there are many principles of budgeting, but the author has highlighted the most important of them. Covid-19 has made its own adjustments, therefore, this is reflected in this area of research. The analysis of methodological aspects of the study area, the author came to the conclusion that the only proper decision in such a situation is to use the complex three main principles (the principle of "to common standards", the principle of transparency of information, the goal-matching principle), which in consequence will have an increase in production activity.