The article is devoted to the definition of the budgeting essence, its contents. The approaches to the definition of the budgeting in Russian and foreign scientific literature are investigated. The author has developed the concept of budgeting as a systemic phenomenon, defined its role in the strategic management. Budgeting is examined in three aspects: from the point of view of system, situational and process approaches. We‘ve proposed an algorithm for solving the problem of budgeting realization.