Strategic Management Accounting as an Information Basis of Effective Management of Enterprise Activities

Angelika Krutova, Tetiana Tara

Abstract

The strategic management accounting toolkit is complemented by the integrated use of a balanced scorecard and strategic budgeting, as well as the inclusion of the forms for systematization of internal and external strategic management accounting information (by type) as its constituents, for information management of strategic enterprise management, and the reporting form for control over the implementation of strategic budgeting, which helps to increase the informativeness of strategic management accounting, improve information communication and coordination between enterprise divisions. The integrated use of a balanced scorecard and strategic budgeting as a basis for generating information is suggested to provide a complete closed cycle of management functions for strategic management of activity of an economic entity. The complex of methodical aspects of the economic entity strategy evaluation aimed at providing users with analytical information, the effectiveness of its use in substantiating a promising strategy. At the same time, the formalization of the evaluation process, on the one hand, allows the correct use of analytical techniques based on a balanced approach, and on the other hand increases the validity and reliability of strategic management decisions.