Subject. The article investigates the key features and advantages of using the Beyond Budgeting model. Objectives. The aim is to analyze the practice of using Beyond Budgeting by a number of foreign companies. Methods. The study draws on general scientific methods of cognition. Results. The paper offers a three-step approach to transition to Beyond Budgeting method. At the first stage, it is necessary to determine the arguments in favor of abandoning traditional budgeting and using the Beyond Budgeting model, at the second stage – to divide the budget goals, at the third stage – to improve each process. Conclusions. The use of the proposed approach and principles of Beyond Budgeting in the practice of modern enterprises will provide a flexible and adaptive structure enabling to quickly address changes in the external environment and respond to optimized processes that ensure maximum efficiency and effectiveness of activities.
Keywords: budgeting, Beyond Budgeting, budget-free management, foreign experience, traditional budgeting
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