Las cifras de la ocupación y del paro

Planning based on the results or targeted planning, involves selection of the best action for the realization of the given goals and results of the defense system. As shown in Figure 2, the model of program budgeting, which is based on the results, in reality usually involves "confrontation" of defense’s objectives and available resources.

System analysis allows, in this context, the decision-maker to select the preferred option among alternative choices and the program through selection of variants and models for estimating the optimal alternative (Method Pattern, CPE, Elektra, stochastic analysis, game theory and coalition, scenario method, Delphi survey, multi-criteria analysis, simulation model, matrices of realization of the objectives of Morris-Hills etc.). In essence, system analysis allows, "adaptive slipping" from the global long-term plan to an encrypted plan with iterative graphics, respecting aleatory boom variables and time horizons of alternative strategies in the simulation of the program (F.S.Quade). This basically determines the policy of distribution and allocation of resources within a long-term strategic planning, mid-term program orientation and annual operating budget choices.

The development process is different for each budget beneficiary. The development process of budget funds user can be viewed as a process of changing its structure and a way of functioning which has a goal to present the existing potential of the existing state (S0) into a new better state (S1). This conversion is a complex and dynamic process that, according to Nikola Čubra (1973), can be symbolically displayed in the following way (p.25):

„a) stages of development (translation) of the system from one state to another:

S0→S1→S2→S3...→Sn (1)

b) the quality of the system in each subsequent stage should be higher than the previous:

K0<K1<K2<K3...<Kn (2)

c) the intensity and speed of development show positive trends:

Program budgeting

Selection of programs

The plan The program

Medium-term program annual budget strategic Plan

Management by objectives

the budget The confrontation ends and

means system Analysis Objectives of

Defense available resources

Development of alternative programs The structure of the program

evaluation of the program Аnalyse couts-avantages

DECISIONS

Adjustment of objectives and resources The

refurbishment program

review of the results

budget Control executive budget

Figure 2: Ristic (1989) „The ratio of available financial resources and stated goals” (p.544) Based on the presented data, we can conclude that the system evolves continuously, which means that it is not desirable that any development phase is skipped. However, the transition from previous to the next state can be significantly facilitated and accelerated if, among other things, in planning, budgeting and execution of needs and expenses of users of budget resources, such organizational solutions, methods and procedures are used by which even with unchanged material conditions, a greater efficiency, that is, higher level of efficiency and effectiveness of budget beneficiaries is achieved or, what amounts to the same thing, with less expenditure of funds for expenses of budget funds it maintains its current level of efficiency which is considered sufficient.

25 50 75 100 The number of destroyed the objectives 100 200 300 400 500

The total yield

Marginal returns

number of missiles

For example, the use of marginal analysis, according Hitch (1966) for assessment of whether you should spend more on defense, it is necessary to know how much additional "protection" will you get from additional expenses in the amount of one billion dinars. Let us assume that the probability of successful hitting of the target with a rocket is 50% and there are 100 targets to destroy. So 100 missiles launched at targets "would achieve an expected score of 50 hits, 200 rockets - 75 hits, 300 rockets - 87 Hits", as shown in Graph 1 (p.50-51).

It is noticeable that there are very severe diminishing returns. Each target can be destroyed only once, and some of the missiles will fall on already destroyed target. While the first hundred missiles would destroy 50 targets, the number of missiles increased from 400 to 500 would increase the number of targets destroyed only by three. Therefore, one shouldn’t ask the question whether the 97 targets destroyed are worth spending 500 missiles, but rather, whether the goal of destroying three extra targets is worth spending hundred additional missiles. This type of analysis is not easy. Linking defense expenditures with its goals and demonstrating what could be gained from additional expenditures, it can be expected that it will bring much more rational decisions about how much is enough.

In the above mentioned the basic aim and essence of modern planning, programming, budgeting and execution of the needs and expenses of defense is contained. The main measure of quality is, therefore not at any price greater efficiency but sufficient or the greatest possible efficiency of the defense system in the current (real, actual bearing) economic and overall social conditions.

Selection and matching of the needs and expenses that are required for high-quality performance of all activities in the organization and preparation of the defense system in terms of actual, economic and socially real opportunities is a necessary but not sufficient condition for the effective execution of the stated objectives of the organization. The quality of use and consumption of available resources, i.e. the degree of economic rationality, also has an impact on the effective achievement of set goals of an organization. This is achieved through adequate and modern normative legal regulation of the financial functions of the organization as well as quality management of its resources.

4. ESTABLISHING LINKS ON IMPLEMENTATION OF FINANCIAL ASSETS WITH