Analysis of financial planning methods
Abstract
At present, it is impossible to carry out effective management activities without using a certain method of financial planning that meets the tasks and goals of any business area in a market economy. To do this, it is necessary to competently approach the choice of a suitable analysis method, based on the characteristics of the scope of application. In this article, the authors analyzed 7 different methods of financial planning: economic analysis, coefficient method, economic and mathematical modeling, cash flow method, balance method, multivariance method and normativity method; and using analysis based on 8 main criteria listed in the general table: counting speed, the amount of information collected, the magnitude of the forecasting error, the complexity of the development of the algorithm, the planning horizon, the degree of certainty of the development of the external environment, the goals of the enterprise and the temporal orientation of ideas; offers the application of the above methods of financial planning for several different areas of application, identifies the disadvantages and advantages of using the planning methods described by the authors. Also, the authors distinguish between the concepts of “planning” and “forecasting”, reveal the topic and draw conclusions about the effectiveness of each method of financial planning individually and in the aggregate of their application in business.
About the Authors
D. M. Shakirova
Kazan State Energy University
Russian Federation
Russian Federation
PhD in Sociology, Associate Professor
K. E. Timurgalieva
Kazan State Energy University
Russian Federation
Russian Federation
Student
E. A. Baglaeva
Kazan State Energy University
Russian Federation
Russian Federation
Student
Y. A. Fetsyukh
Kazan State Energy University
Russian Federation
Russian Federation
Student
V. I. Scryabina
Kazan State Energy University
Russian Federation
Russian Federation
Student
G. A. Rakhimova
Kazan State Energy University
Russian Federation
Russian Federation
Student
References
1. Laenko O.A. Methods of Financial Planning and Forecasting at Enterprises // Bulletin of the Kama Social Institute. – Ural State University of Economics, Yekaterinburg, 2016.
2. Chetverov V.S. Methods of financial planning // Young scientist. – 2015. –No. 3 (83). – P. 537–539. – URL: https://moluch.ru/archive/83/15167/ (date accessed: 08.05.2022).
3. Musienko S.O. Analysis of the possibilities of applying financial planning methods by small enterprises: problems, solutions / Financial University under the Government of the Russian Federation. – Publishing House finance and credit. – Moscow, 2016.
4. Brusov P.N., Filatova T.V. Financial management. Financial planning: textbook. – M.: KNORUS, 2012. – P. 226.
5. Razumovskaya E.A., Shuklin M.S., Bazhenov V.I. Financial planning and forecasting: textbook / Ministry of Education and Science of the Russian Federation, Ural Federal University. – Yekaterinburg, Ural University Press, 2017. – P. 284.
6. Kovalenko O.G. On the issue of financial management of an enterprise // Vector of Science of Togliatti State University. – 2013. – No. 3 (25). – P. 338–339.
7. Grigoryeva T.I. Financial analysis for managers: assessment, forecast: textbook for masters / 2nd ed., revised and additional. – M.: Yurayt, 2012. – P. 462.
8. Khusainova E.A. Development of monitoring tools for regional economic security. – Kazan: Fatherland, 2022. – P. 175.
9. Basovsky L.E. Marketing: a course of lectures. – M.: INFRA-M, 2010. – P. 219.
10. Kuleshova E.V. Macroeconomic planning and forecasting: textbook. – Tomsk: El Content, 2013. – P. 178.
11. Aguilar S.R. , Kosheleva O. When to stop computing and start investing // Asian Journal of Economics and Banking. – Vol. 5. – 2021. – No. 2. – P. 111–115.
12. Duong T.T.T., Thao N.X. TOPSIS model based on entropy and similarity measure for market segment selection and evaluation // Asian Journal of Economics and Banking. – Vol. 5. – No. 2. – 2021. – P. 194–203.
13. Walker K.B. Advanced Planning: The New Direction of Corporate Budgeting // Industrial Management & Data Systems. – Vol. 89. – No. 71989. – P. 27–32.
14. Beckett-Camarata J. An examination of the relationship between the municipal strategic plan and the capital budget and its effect on financial performance // Journal of Public Budgeting, Accounting & Financial Management. – 2003. – Vol. 15. – No. 1. – P. 23–40.
15. Kuttner M., Mayr S., Mitter C. , Duller C. Impact of accounting on reorganization success: empirical evidence from bankrupt SMEs // Journal of Accounting & Organizational Change. – 2022. – Vol. ahead-of-print. – No. ahead-of-print.
Review
For citations:
Shakirova D.M., Timurgalieva K.E., Baglaeva E.A., Fetsyukh Y.A., Scryabina V.I., Rakhimova G.A. Analysis of financial planning methods. Kazan economic vestnik. 2022;(6):38-43. (In Russ.)
Views:
36
Email this article 