Abstract
Currently, it is of particular importance to build effective internal corporate budgeting systems focused on achieving strategic innovation goals. The budgeting process depends on the formed financial model, which, in turn, corresponds to the strategy of economic entities. The article discusses the conceptual foundations of budgeting in both domestic and foreign economic literature. On the basis of the conducted analysis, the place of budgeting as an instrument of an economic entity in the development of innovative activity is determined. Based on the results of the study, the author proposes an algorithm for implementing process-oriented budgeting using the principles of the ABC method as an effective method of managing the finances of an innovative economic entity. To obtain the results, we used such general scientific methods as analysis, synthesis, induction and generalization.
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