IMPROVEMENT IN THE BUDGETING SYSTEM IN BUSINESS (REVIEW)

Hamad Ali Kadhim Hamad

PhD student in Peoples’ Friendship University of Russia, Accounting, audit and statistics

Teaching work in Wasit Universityk, 1042205248@pfur.ru

Petrovskaya Maria V

RUDN University, Associate Professor, Head of the Department of Accounting, Audit and Statistics. petrovskaya-mv@rudn.ru

Sorokina Larisa N.

Candidate of Sciences in Economics, associate professor of department of accounting, audit and statistics Peoples’ Friendship University of Russia (RUDN University), sorokina-ln@rudn.ru

Abstract

Using business analytics to automate corporate processes and save time appears to be a natural progression for budgeting, according to this analysis. A budgeting method in which business analytics is used and its impact on customer satisfaction is the focus of this study. There may be a correlation between public sector employment of analytical approaches and data infrastructure complexity, furthermore, it is important to recognize the importance of planning and evaluating in budgeting. As predicted by the results of a survey of German enterprises, the sophistication of the data infrastructure is positively related to the use of business analytics in budgeting. Business analytics becomes increasingly important in budgeting when an organization places a greater emphasis on the planning function. The budgeting process and evaluation function have no connection, on the other hand, according to our findings from business analytics. Lastly, a study revealed that it is positively correlated with budgeting process satisfaction when business analytics are used. It is possible that traditional budgeting will disappoint you. and business analytics can assist alleviate this problem. As a whole, our findings provide practitioners with useful guidance on whether analytical procedures might be appropriate.

Keywords: Budgeting, Business, business analytics, planning, evaluation.