E3S Web Conf.
Volume 174, 2020Vth International Innovative Mining Symposium
|Number of page(s)||6|
|Section||Mining Regions’ Sustainable Development|
|Published online||18 June 2020|
Budgeting as an Instrument of Increasing Competitiveness and Sustainability of Mining Enterprise
1 Financial University under the Government of the Russian Federation, Omsk Branch, 644099 Partizanskaya st. 6, Omsk, Russia
2 Siberian Institute of Business and Information Technology, 644116 24 Severnaya st., 196 bl. 1, Omsk, Russia
3 Yerevan State University, 0025 1 Alex Manukyan st., Yerevan, Armenia
The authors conducted a study of the concept and essence of budgeting as a financial planning tool for mining companies to secure their sustainable development. The role of budgeting in increasing the competitiveness and sustainability of the organization is shown. The importance of information on the state of budgets is shown. This information provides the company management with the opportunity to analyze the financial performance of the structural divisions of the company, identify promising areas of activity, as well as areas of differentiation of activities or structural adjustment.
© The Authors, published by EDP Sciences, 2020
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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