Problems encountered in the application of profit planning and control which is employed as a management tool and some proposals

The firms must plan their operations in order to survive and be successful in the changing conditions. Profit Planning and Control (PPC) is one of the most important management functions, because the basic goal of a firm is to make profit. The PPC concept that contains many techniques and approaches is a very complex process. The basic subject in this study is Profit Planning and Control. In this frame, the following have been analyzed: PPC concepts, processes, the techniques, and approaches that are employed, budgets and modern budgeting techniques. In addition, the phases of Profit Planning process have been explained in a detailed way. Also in this study, a research based on a questionnaire survey covering the Turkish textile firms which are among the largest 500, and a case study performed in a textile firm, X. Using the research findings, problems with regard to PPC have been determined and some proposals for the solutions developed. Key Words: Profit Planning and Control, Master Budgets, Modern Budgeting Techniques.