Academic journal article Academy of Accounting and Financial Studies Journal

Accounting and Analytical Support of the Enterprise's Strategic Management on the Basis of Key Efficiency Parameters

Academic journal article Academy of Accounting and Financial Studies Journal

Accounting and Analytical Support of the Enterprise's Strategic Management on the Basis of Key Efficiency Parameters

Article excerpt

INTRODUCTION

The current stage of the world economy's development is closely linked to the dynamic processes of market transformations. In these processes the introduction of the latest technologies and modern approaches in the field of information management system can be seen very often. In accordance with modern principles of business management, information provision is intended to accompany management processes primarily of a strategic nature.

Implementation of any concept of strategic development requires a relevant information base, which puts new tasks and requirements in the formation of a system of accounting and analytical support. An analysis of the functioning of the system of accounting and analytical support at the enterprises of the restaurant industry allows us to conclude that it is extremely low focused on the development and adoption of strategic decisions that negatively affects the effective use of existing strategic management tools and actualizes research on the development of conceptual foundations of accounting and analytical support in management of strategic development at the enterprises in this sphere.

REVIEW OF PREVIOUS STUDIES

Highly estimating the contribution of scientists to the research of the organization of analytical work at the enterprise, we note, however, that the change in the scale and types of activities, forms of organization and conduct of business, requires further research in this area. In particular, the issue of the introduction of the regulated rules of analytics at the managerial level, which takes into account the peculiarities of business processes of the enterprise, remains undeveloped (Drobyazko, 2018).

Investigations of analytical work of enterprises allow stating that:

The conduct of analytics at enterprises went beyond analytical units (Akkermans & Van Oorschot, 2018).

The decentralized form of economic analysis in enterprises has led to an increase in the volume and speed of management information (Cooper et al. 2017);

The lack of rules for the formation and movement of analytical information, generated by different departments, often leads to decisions based on distorted or incomplete information (Drobyazko et al., 2019).

The increase in the number of indicators, and calculations does not always have a qualitative effect on the management processes (Hilorme et al., 2019);

Having the theoretical basis for calculating certain indicators, departmental employees (other than analytical ones) often do not take into account peculiarities of activity in a particular industry, as well as software peculiarities and the order of data generation and data receipt (Hu et al., 2017).

The provisions on analytical work should fulfill the following tasks: establishing a relationship between the enterprise strategy and the analytics that is conducted for information provision of managerial decisions (Honggowati et al., 2017); outlining the sources of information used for analytics; development and approvement the policy of access to the accounting and analytical data contained in the systems; outlining of the factors that may have an impact on the information, obtained from accounting and analytical systems (Xia et al., 2017); determination of the level of liability for errors in the data of accounting and analytical systems; definition of the degree of employees' responsibility and their managers for providing incorrect accounting and analytical information (Hilorme et al., 2019).

Implementation of the above-mentioned tasks will give the opportunity to improve the quality of analytical information that is necessary for the adoption of management decisions aimed at achieving the strategic goals of the enterprise (Garbowski et al., 2019).

METHODOLOGY

To achieve the set out goals and to implement the objectives, a set of general and special methods has been used: dialectical method of knowledge to clarify the concept of enterprise development; historical approach, methods of economic and statistical analysis, survey and compilation to analyze the dynamics of development and factors of restaurant industry's transformation; methods of systematic and structural analysis, induction and deduction, abstraction and analogy to show the relationship of accounting and analytical support and business development strategies of restaurant industry; methods of operational and strategic analysis to assess the possibility of adaptation to the needs of the industry's modern cost accounting systems; system approach; tabular method for the visual display of materials and schematic representation of a number of theoretical positions of work. …

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