Økonomistyringen

Økonomistyringen, often translated as financial management or management accounting in organizational contexts, is the discipline of planning, controlling, and evaluating how an organization's resources are used to achieve its objectives. It spans planning and budgeting, performance management, accounting, and governance, and is applied in both private companies and public administrations. The aim is to ensure efficient and effective use of resources, accountability for results, and support for strategic decision making.

Key elements include planning and budgeting (setting objectives, allocating resources, creating operating and capital budgets), accounting and cost management (tracking costs by activity or department, standard costing, variances), and performance management (monitoring results through KPIs, dashboards, and the balanced scorecard). Internal controls and risk management are integral to safeguarding assets and ensuring reliability of information. Decision support tools such as cost-benefit analysis, capital budgeting, and investment appraisal inform resource allocation.

Implementation typically relies on management information systems and ERP to collect data, produce reports, and enable monitoring. The management cycle generally follows planning, execution, reporting, and evaluation, with regular management meetings and governance processes to adjust plans as needed. The practice is closely tied to strategy, governance, and compliance requirements.

Public sector økonomistyring often emphasizes stewardship of public funds, performance-based budgeting, and transparent reporting. In both sectors, digitalization, data quality, and integrated reporting are growing priorities, along with sustainability considerations and risk management.