ACCOUNTING PLANNING OF EXPENSES AND REVENUES IN THE FUNCTION OF BUSINESS DECISION-MAKING

Tanja Janaćković; Marina Pejčić

doi:10.5937/ekonsig2402059J

Authors

Tanja Janaćković Academy of Vocational Studies Southern Serbia - Department of Higher Business School of Professional Studies Leskovac, Leskovac, Serbia Author
Marina Pejčić Elementary School „Vitko i Sveta“, Gadžin Han, Serbia Author

DOI:

https://doi.org/10.5937/ekonsig2402059J

Keywords:

budgeting, strategic planning, financial plan

Abstract

A budget is a detailed plan that indicates the means of acquiring resources and their use in a certain period of time. The process by which prepared plans get their binding formal quantitative expression is bud-geting. The focus of the work is on the analysis of budgeting and strategic planning in the elementary school „Vitko i Sveta“ Gadžin Han, which represents the basis of business decision-making. Adequate financial mana-gement contributes to making the right decisions, as well as planning the school's operations in the future. Ultimately, effective financial manage-ment affects all aspects of the school's operations, i.e. employees involved in the educational process, students and the quality of education offered to them. The subject of the work is to review the budget savings planning strategy and analyze the implementation of the Elementary School budget in the first half of 2023. The goal of the research is to indicate the significant role of the budget execution report in providing information about the school's financial position and operations. By analyzing the execution of the budget in the first 6 months, the goal is to check the accuracy of financial planning. The contribution of the research is to enable management to ma-ke business decisions more easily. The research was conducted on the basis of secondary data (financial plan and execution of the school budget). In order to gain knowledge about new facts, the inductive method was used, then comparative analysis was used to compare similarities, common cha-racteristics and differences between events, the description method was used to describe facts and processes, while the deduction method was used to predict future events.

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