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Transformations in Budgeting Practices: Evidence from the Czech Republic

Transformations in Budgeting Practices: Evidence from the Czech Republic Int Adv Econ Res (2018) 24:203–204 https://doi.org/10.1007/s11294-018-9679-7 RESEARCH NOTE Transformations in Budgeting Practices: Evidence from the Czech Republic Boris Popesko Published online: 12 March 2018 International Atlantic Economic Society 2018 JEL Classification M00 M21 The paper presents the results of a survey of Czech enterprise budgeting practices, performed in 2014–15, which focuses on current trends in budgeting practices in comparison to worldwide trends. The objective of the study was to compare trends in the literature, which describe the transformation of enterprise budgeting systems from fixed annual budgets into more flexible systems based on decentralization and use of performance indicators. We also verified that several limitations of budgeting systems identified in the literature (Libby and Lindsay, Management Accounting Research, 2010) are present in the Czech commercial environment. In the last two decades, managers and academics observed growing dissatisfaction with traditional budgeting concepts, which are based on annual fixed budgets (Hansen et al., Journal of Management Accounting Research, 2003). Traditional budgeting methods are very often criticized for inflexibility and a strong focus on resource allocation. Criticism was focused on problems related to the use of traditional budgets as a management control mechanism (Neely et al., Measuring Business Excellence, 2003). Many research http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Advances in Economic Research Springer Journals

Transformations in Budgeting Practices: Evidence from the Czech Republic

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Publisher
Springer Journals
Copyright
Copyright © 2018 by International Atlantic Economic Society
Subject
Economics; Economics, general; Macroeconomics/Monetary Economics//Financial Economics; International Economics; Microeconomics; Economic Growth
ISSN
1083-0898
eISSN
1573-966X
DOI
10.1007/s11294-018-9679-7
Publisher site
See Article on Publisher Site

Abstract

Int Adv Econ Res (2018) 24:203–204 https://doi.org/10.1007/s11294-018-9679-7 RESEARCH NOTE Transformations in Budgeting Practices: Evidence from the Czech Republic Boris Popesko Published online: 12 March 2018 International Atlantic Economic Society 2018 JEL Classification M00 M21 The paper presents the results of a survey of Czech enterprise budgeting practices, performed in 2014–15, which focuses on current trends in budgeting practices in comparison to worldwide trends. The objective of the study was to compare trends in the literature, which describe the transformation of enterprise budgeting systems from fixed annual budgets into more flexible systems based on decentralization and use of performance indicators. We also verified that several limitations of budgeting systems identified in the literature (Libby and Lindsay, Management Accounting Research, 2010) are present in the Czech commercial environment. In the last two decades, managers and academics observed growing dissatisfaction with traditional budgeting concepts, which are based on annual fixed budgets (Hansen et al., Journal of Management Accounting Research, 2003). Traditional budgeting methods are very often criticized for inflexibility and a strong focus on resource allocation. Criticism was focused on problems related to the use of traditional budgets as a management control mechanism (Neely et al., Measuring Business Excellence, 2003). Many research

Journal

International Advances in Economic Research – Springer Journals

Published: Mar 12, 2018

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