@article{ursu2024history,
  title = {The History of the Business Budgeting to the Present: A Literature Review},
  author = {Ionela URSU},
  year = 2024,
  url = {https://ibimapublishing.com/articles/JEERBE/2024/342438/},
  journal = {Journal of Eastern Europe Research in Business and Economics},
  volume = 2024,
  pages = 12,
  doi = 10.5171/2024.342438,
  abstract = {Budgets always played an important role in businesses and the current paper aims to present a brief history of budgeting, by conducting a litterature review. Nowadays researchers and practitioners are mentioning that there is a need to change the way we budget within the companies and in order to understand these current trends and principles, we need to investigate the budgets’ origins,evolution and context.  This paper is relevant because it shows the evolution of budgets from the origins to the present compared to other studies that are limited to investigate a certain time period.The concept of budgets can be traced back to the Babylonians, Egyptians and Romans, but the first modern budgeting started to develop in England  (1760)  as a tool for the government to control the expenditures. The term „budget” was initially used in the United States, when this tool was brought here from Europe. Budgets were used in companies only for specific departments with the purpose of restricting the expenditures, such as advertising, research and development, personnel. The budgets, in the business field, developed mainly beetween 1895 and 1920 due to the evolution of the industrial engineering and cost accounting. There are several factors that contributed the budgeting usage into the companies, such as: industrial development, production standardization, development of standard costs, budgetary literature increase and competition on the market. Even if this tool is used by most of the companies, budgeting is changing in order to adapt to the constant changing environments. As a response, new models are developed and proposed such as modern budgeting, better budgeting, advanced budgeting, beyond budgeting.},
  keywords = {budgeting, business budgeting history, management accounting history},
  note = Article ID: 342438
}