The role of accounting planning in improving the efficiency of banks and economic development of Bosnia and Herzegovina

Abstract

The banking sector is the main 'artery' of the entire financial system of BiH. It is regulated by the two agencies for banking, one in the Republic of Srpska and the other in the Federation of BiH. Due to the changed needs of the clients and the business environment, banks move from a traditional to a modern way of business in order to meet the demands of the time. In order to meet the demands of the market, which has to be subject of reform expanding, because of the globalization on process. In order to minimize business risks, in such turbulent business enviroment, the subject of this paper is focused on how to improve the efficiency of the bank's business needs to inherit the accounting plan. The condition of raising economic growth is unimpeded process in the financial system, especially a banking system, which should help the local economy and entrepreneurship. Mechanisms for stimulating savings and credibility of financial institutions are of utmost imortance for improving economic competitiveness of BiH.

Keywords

• banking system
• accounting and planning
• financial systems
• business development