Regarding the prospects for the introduction of the budgeting system of international financial organizations of the future

Abstract

The modern stage of transformations and reforms of national economies of post-Soviet countries significantly depends on the ability to use modern technologies to develop an effective management system. The topical issue is the consideration of budgeting as an opportunity of perspective improvement of international financial organizations. The article aims to analyze the prospects of implementing the budgeting system of international organizations in the future. Methods of analysis, synthesis, induction and deduction, comparativistic method, and system method of forecasting were used for writing the article. The results considered the essence of the concept of budgeting. It is established that budgeting is a management technology, which, based on the specifics of the whole industry and established budgets ensure the work of both separate structural units and the organization as a whole through the use of planning tools, calculations, analysis, limitation, encouragement, control of income and expenses, assets and liabilities. Also, the models of budgeting of financial institutions are analyzed, the basic forms of budgeting are defined, the connection between the latest technologies and the improvement of models of management of financial institutions is emphasized. The choice of the optimal model of budgeting is associated with the availability of additional financial resources in the implementation of budgeting, the presence of appropriate specialists in the composition of the institution, the awareness of the importance of the optimization of non-productive costs. The conclusions summarized that an important role belongs to the decentralization of management - the transition from the simple division of managerial authority over functions to the assignment of the main tasks and indicators to the managers of the structural units.