Methodology of financial control of commercial activities during the budget process

Abstract

In a period of instability in the current economic environment, many corporations, striving to maintain market positions, achieved levels of profitability, and to avoid financial difficulties, show a genuine interest in financial control as a tool for achieving corporate goals. For business entities whose main source of income is revenue from core activities, the implementation of financial control over commercial activities during the budget process becomes particularly relevant. The article describes various aspects of internal corporate financial control at the stages of budget formation, approval, and execution, as well as ways to improve control techniques and methods in order to enhance company performance.