Abstract
The article deals with the various interpretations of the term management accounting. The role and importance of strategic management accounting in the organization’s cash flows control are investigated. The accounting and analytical models of strategic management accounting are analyzed. The territorial scope of this article covers the Russian Federation. The study concludes that the system of assessment parameters of organization’s financial condition should cover all its aspects, namely, financial sustainability, solvency, liquidity and business activity. Hence, strategic management accounting of cash flows makes it possible to correctly set information base to monitor financial flows of a company which responds the tends of market economy and allows to make optimal management decisions.
Highlights
A wide application of modern management techniques is of great importance in increasing of organizations’ competitiveness
Management accounting is a sub-system of accounting and analytical system which provides its administrative apparatus with information used for planning, directing and controlling the activities of a company
Characteristic features of strategic management accounting of cash flows are as follows: - supporting of decision-making when managing organization’s finances; - providing the staff of the organization with information on its cash flows; - changing the system of cash flows data reporting if the existing methods do not meet the organization's needs
Summary
A wide application of modern management techniques is of great importance in increasing of organizations’ competitiveness. After considering the term "strategic management accounting" and its elements we are to analyze its role in the organization’s cash flows control.
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