CORPORATE BUDGET AS A MANAGEMENT CONTROL INSTRUMENT IN INDUSTRY

ABSTRACT This paper addresses the issue of corporate budgeting as a management control instrument in industry. Its scientific relevance lies in the fact that it clarifies to the general public that cost accounting, combined with the industrial production control system, represents lower risk levels and greater insight into the business, which implies safer and more accurate decision-making, especially regarding future investments. The general objective adopted was to understand how corporate budgeting can be used as an effective management control instrument in industry. The specific objectives are to present the concept of budgeting and discuss the concept of cost as an accounting tool for industrial management. The need to budget is inherent to the existence of any business, but the task of doing so falls to professionals working in the accounting system, who will have the freedom to create reliable reports that will serve as instruments for managers to manage prices, investments, markets and acquisitions, with greater immediate decision-making power. The corporate budget is an indispensable tool for managers, executives, entrepreneurs and investors, because it enables decision-making with greater caution and security regarding the returns applied. The conclusions reached after carrying out this work are that the Accountant should be to all branches, departments and sectors of production, highlighting investments when necessary and encouraging good management of the entire production, as well as the factual presentation that cost attentive management and budget management represent roles of the highest relevance in corporate decision-making.