INTEGRATED BUDGETING AND CASH FLOW FORECASTING OF A HIGHER EDUCATION INSTITUTION IN THE SYSTEM OF ENSURING FINANCIAL RESILIENCE
DOI:
https://doi.org/10.32782/2786-8273/2026-14-31Keywords:
management accounting and control, budgeting; cash flow forecast, management control, forecast financial gap, preventive management, financial resilience, higher education institutionAbstract
Introduction. Higher education institutions operate under growing financial uncertainty, while management accounting and control research has mainly concentrated on cost accounting, budgeting, management control systems, performance measurement and strategic uses of accounting information. The forecasting component that updates expectations about future cash availability during budget execution remains less systematically integrated into this framework. Purpose. The study aims to systematise the evolution of management accounting and control research in higher education and to substantiate the functional place of cash flow forecasting between budgeting, management control and managerial response. Methods. A structured review and comparative analysis of publications on management accounting and control in higher education were combined with subject, institutional, methodological and theoretical classification. Structural-functional analysis was used to distinguish planning, forecasting, control and response functions and to develop an integrated information cycle. Results. The study shows that the research field has expanded from cost allocation and budgetary control towards management control systems, performance measurement, strategic management accounting and behavioural-institutional explanations. At the same time, cash flow forecasting has not achieved a comparable level of theoretical and methodological integration. Budget variance is distinguished from a forecast financial gap: the former reflects a difference between planned and actual indicators, whereas the latter signals an expected shortage of available cash for future payments. The functional sequence Budgeting → Cash Flow Forecast → Gap Analysis → Management Control → Management Response → Budget and Forecast Update is proposed as an iterative management cycle. Conclusion. Integrating a regularly updated cash flow forecast into management accounting and control shifts the information focus from retrospective explanation of deviations towards early warning and preventive managerial response. The proposed approach provides a theoretical and methodological basis for further development and empirical testing of forecasting tools adapted to higher education institutions of different ownership and funding models, with particular attention to liquidity and financial resilience.
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