FINANCES OF THE INSTITUTIONAL SECTORS

SYTNYK Hanna Viktorivna

Structural and logical sequence of financial planning on the basis of the process-oriented approach

The necessity of improvement of the financial planning methodological basis in accordance with modern conditions of business and appropriate concepts of management are justified in this article. One of such concepts is process-oriented management approach. Fundamental principles of system-oriented approach, methods of scientific abstraction, analysis and synthesis, induction and deduction are methodological basis of the research. Critical and constructive analysis of available approaches to structuring of financial planning process, its positive estimation and generalization, research of theoretical and methodological basis of process-oriented management approach made it possible to formulate author’s approach to determination of the structural and logical sequence of the financial planning on the basis of the process-oriented approach, which contains 17 stages, that are unified in interacting strategic, current and operational subsystems. Content of main stages of the financial planning, types of changes of business processes according to their status and level of resource endowment of the enterprise are examined in this article. Proposed structural and logical sequence of stages of the financial planning on the basis of process-oriented approach provides complex, cross-cutting type of the financial planning, which allows connecting strategic financial targets with budgets of the enterprise, as well as searching for resents for improvement of financial status of the enterprise by setting and controlling performance indicators of the business processes financial efficiency. Implementation of this approach requires improvement of methodological basis and practical frame of certain subsystems of the financial planning: strategic, current and operational, which will be the subject of the further author’s research

Keywords: financial planning, business process, strategic financial indicators, budget.

JEL: G30, G32

SYTNYK H. V. Structural and logical sequence of financial planning on the basis of the process-oriented approach / H. V. SYTNYK // Фінанси України. - 2014. - № 8. - C. 112-124.