Financial Analysis, Budgeting, Decision and Control

• Main Author: Mariana Rodica TIRLEA
• Format: Article
• Language: English
• Published: Dunarea de Jos University of Galati 2013-12-01
• Series: Annals of Dunarea de Jos University. Fascicle I : Economics and Applied Informatics
• Subjects: Analysis; Planning; Forecasting; Financial decision; Diagnostic
• Online Access: http://www.eia.feaa.ugal.ro/images/eia/2013_3/Tirlea.pdf

The economic processes taking place in the economic environment are stochastic processes that involve and imply risks, arising from product diversification, competition, financial derivatives transactions: swaps, futures, options and from the large number of actors involved in the stock market with a higher or a smaller uncertainty degree. Competition and competitiveness, led to major and rapid change in the business environment, they determined actors participating in the economy to find solutions and methods of collecting and processing data, in such a way that, after being transformed into information they quickly help based on their analysis in decision making, planning and financial forecasting, having an effect on increasing their economic efficiency. In these circumstances the financial analysis, decision, forecasting and control, should be based on quality information that should be a value creation source. The active nature of the financial function implies the existence of a substantially large share of financial analysis, financial decision, forecasting and control.