Methodical approach to organization of budgeting in a leasing company

• Kazantseva A.K.

  Time-leasing LLC
  Vladivostok. Russia

• Levchenko T.A.

  Vladivostok State University of Economics and Service
  Vladivostok. Russia

The subject of this article is the theory and methodology of budgeting, the organization of the budget process within the financial management of the leasing company. The aim of the work is to formulate the main elements of the methodical approach to the organization of the budgeting system in an independent leasing company. To achieve this goal, research methods such as scientific abstraction, comparative analysis, statistical and logical methods were used. The following results with signs of scientific novelty were obtained: 1) existing approaches to determining the essence of budgeting as a tool for financial management are systematized; 2) identified the features of the functioning of the leasing company, affecting the organization of financial management in it, the process of building budgets; 3) the main directions of adjusting the standard methodical approach to the organization of the budgeting process, taking into account the specifics of the leasing business, are identified. An independent leasing company is proposed to limit the set of final budgets by the budget of revenues and expenditures, the budget of the cash flow and the budget on the balance sheet; organize a budget process on a sliding basis, with an emphasis on the need to create an attractive picture from the point of view of a potential lender. The described approach takes into account the specifics of the leasing business, and therefore its practical implementation allows to optimize the processes of tax accounting and cash flow management, financial results of the leasing company. Thus, the competent application of the budgeting tools is the basis for increasing the efficiency of financial management of an organization specializing in the provision of leasing services.

Keywords: budgeting, budget, leasing company, lessor, lessee, cash flow, planning, finance source, creditworthiness.