THE EMPIRICAL EVALUATION OF THE USEFULNESS OF ACCOUNTING AND FINANCIAL INFORMATION FOR STRATEGIC MANAGEMENT OF ENTERPRISES IN UKRAINE

Abstract

Abstract. Urgency of the research. The second half of the nineteenth century is characterizedby significant shift of paradigm in accounting, which is aimed to transform accounting in effectivesystem of information support of management based on the gradual integration of managementfunctions — accounting, planning, analysis and control. The result of this process is expanding thetime horizon of accounting by supplementing it with prognostic function associated with the ensuringof information and analytical background of budgeting process.Target setting. Changing of management concept from short-term tactical cost managementto long-term oriented value management causes improvement of accounting systems, adding of newmethods that provide the necessary information both for certain and prospective decision makingprocess.Actual scientific researches and issues analysis. Many researchers highlight the necessity ofdevelopment of new strategic-oriented accounting systems and provide their own recommendationsfor its practical implementation. Among them, in particular, R. Bruhanskyy, I. Bohata, M.Bolduyev, S. Holov, A. Pylypenko, M. Pushkar, V. Tkach and others.Uninvestigated parts of general matters defining. But these researches are dominantlyfocused on transformation of accounting, correcting of its goals and tasks, expanding ofrequirements to essence and character of accounting data, developing of new structural componentsin accounting system.The research objective. The aim of this research is an empirical study of accounting andfinancial information’ utility due to needs of enterprises’ strategic management in currentconditions in Ukraine. This task would be realized with the help of correlation and regressionanalysis of prices formation on shares under the influence of financial and economic indicators thatare mentioned in the financial statements of enterprises.The statement of basic materials. The results of correlation and regression analysis of pricesformation on shares of industrial enterprises of Ukraine are presented in the article. The authorsdetermined which of the indicators that presented in the financial statements affect on formation ofthe market value of shares of enterprises. The stochastic dependency model of market capitalizedvalue of conditional averaged share of industrial enterprise of Ukraine on the change of accountingdata of financial reporting is offered in the article. On the results of the empirical utility assessmentof accounting and financial information, it was concluded about its low informative value fordecisions making on investing resources into the development of domestic industry. Systemicprovision of strategically meaningful information requires the development and implementation ofstrategically oriented accounting systems.Conclusions. Strategic decision-making gradually become administrative function that isrealized on a regular basis and requires permanent formation and providing of strategicallyimportant information that should be measured by strategically oriented systems of accounting.Keywords: accounting, strategic account, information and analytical support, accountingand financial information, correlation and regression analysis.Formulas: 1; fig.: 0; tabl.: 1; bibl.: 22.