In the current definition, the budget is a financial plan by means of which the shares of all relevant resources related to achieving an objective within a certain organisational subdivision are provided in the financial expression. The budget is the result of the budgeting activity that is characterised by: planning and coordinating, authority and responsibility, communication, control, etc. Any budget meets several functions and namely: prediction, control, providing the financial balance, etc. Budgeting the company’s activity involves preparing of budgets related to its functions, namely: the budget of production that includes the manufacturing budget, the budget related to machines and equipment, the budget related to the labour force, the budget of raw materials and consumables, the overall production budget, the commercial budget, meaning the seller’s budget, the budget of sales managers, the commercial manager’s budget, the commercial budget itself, the budget of the investments by emphasising the budget of the commercial and industrial investments, the budget of the research-development activity by emphasising the expenses related to this activity, the budget of treasury, meaning the budget of revenues, the budget of payments and correlation between them, etc. In the activity of the company’s manager, applying the management by budgets involves going through several stages: sizing the objectives in financial form, preparing the system of budgets at the company’s level by fields, organising the information system related to budgets, the control of budgetary system, etc.
Long COVID: current definition
