Economics, Econometrics and Finance
6 years ago

Revolutionizing Management Accounting Principles for Enhanced Financial Success and Efficiency

Financial and credit activity problems of theory and practice
MANAGERIAL ACCOUNTING: PECULIARITIES AND PRINCIPLES
Z.-М. V. Zadoroznuy, Ya. F. Averkyn

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The article discusses the essence and characteristics of managerial accounting, which is a type of accounting that helps businesses make informed decisions. It involves collecting, processing, and sharing information about a company's income and expenses to manage costs effectively and achieve positive financial results. The main features of managerial accounting include tracking costs and revenues, coordinating with statistical and financial accounting, managing costs, and analyzing data. The article also outlines principles of managerial accounting, such as communication, using relevant information, analyzing factors affecting company value, trust-based management, and forecasting and modeling. These principles aim to enhance decision-making and ensure ethical practices in accounting.