Financial and managerial types of financial. Management and financial accounting. Tax accounting; concept, goals, organization options

FEDERAL AGENCY FOR EDUCATION

RUSSIAN STATE SOCIAL UNIVERSITY

Ural Institute of Social Education

(branch) RGSU in Yekaterinburg

Department of GIS (humanitarian and social education)

TEST

BY DISCIPLINE

"FINANCIAL MANAGEMENT"

Question 1. Management accounting in the financial management system of an enterprise.

Question 2. Goals and objectives of accounts payable management

enterprises. Management techniques and methods.

Test No. 6

Ekaterinburg

INTRODUCTION

CHAPTER I. MANAGEMENT ACCOUNTING IN THE FINANCIAL MANAGEMENT SYSTEM AT THE ENTERPRISE

1.1 Definitions and objectives of management accounting

1.2 Management accounting in the financial management system

1.3 Construction of a financial management system

CHAPTER II. GOALS AND OBJECTIVES OF ENTERPRISE ACCOUNTS PAYABLE MANAGEMENT. MANAGEMENT TECHNIQUES AND METHODS

2.1 Essence and content of accounts payable

2.2 Effective methods of managing accounts payable

debt

2.3 Analysis of accounts payable

CONCLUSION

BIBLIOGRAPHY

INTRODUCTION

The main goal of implementing a management accounting system at an enterprise is to provide the company's management with the most complete information necessary for effective work.

The purpose and objectives of the test work are to consider the tasks of management accounting of financial management at an enterprise, methods of its application, its positive and negative aspects, as well as to give the concept of an enterprise's accounts payable, find ways to manage it and, based on data, find methods to reduce it.

The objects of work are management accounting, financial management, accounts payable of the enterprise.

Management accounting exists in any organization - the value of its application depends significantly on the extent to which management accounting data is “delivered” for decision making in real time and real value. The ideal scheme for management accounting at an enterprise is the creation of internal management accounting standards that reflect the business culture.

Management accounting in the financial management system of an enterprise is built to solve problems of operational analysis and management of the enterprise. The pinnacle of a financial manager's skill is the use of modern methods of financial planning and control. It considers the tasks of assessing and planning all input and output cash flows as a result of the company’s activities in the short term - month, quarter, year. The main purpose of such planning is to streamline all the activities of the company by adopting a budget and then executing it.

The transition to a market economy sharply increases the importance of analytical justification for the choice of management decisions. Without analysis, it is impossible to objectively assess the achieved level of production and the state of the enterprise’s economy.

The analysis allows you to look into the future and predict the prospects of the organization in a difficult market environment. Therefore, an increasing number of specialists and people interested in the successful functioning of enterprises feel the need to master the basics of business analysis and acquire the skills to conduct it.

In order to properly build relationships with clients, it is necessary to constantly monitor the current state of mutual settlements and track trends in their changes in the medium and long term. At the same time, control must be differentiated in relation to different groups of clients, sales channels, regions and forms of contractual relations.

Accounts receivable and payable are a natural phenomenon for the existing system of payments between enterprises in Russia.

Accounts payable are the debts of the enterprise itself to payers, customers, tax authorities, etc.

The policy for managing receivables and payables is part of the overall policy for managing current assets and the marketing policy of the enterprise, aimed at expanding the volume of product sales and consisting in optimizing the overall size of this debt and ensuring its timely collection.

Accounts payable are to a certain extent useful for the enterprise, because allows you to receive for temporary use funds belonging to other organizations.

Accounts receivable and accounts payable are natural components of an enterprise's balance sheet. They arise as a result of a discrepancy between the date of occurrence of obligations and the date of payments for them.

The financial condition of the enterprise is influenced by both the size of the balance sheets of receivables and payables, and the turnover period of each of them.

If accounts receivable are greater than accounts payable, this is a possible factor in ensuring a high level of the total liquidity ratio.

At the same time, this may indicate a faster turnover of accounts payable compared to the turnover of accounts receivable. In this case, over a certain period, the debts of debtors are converted into cash, at longer time intervals than the intervals when the company needs cash to pay debts to creditors on time. Accordingly, there is a lack of funds in circulation, accompanied by the need to attract additional sources of financing. The latter can take the form of either overdue accounts payable or bank loans.

CHAPTERI. MANAGEMENT ACCOUNTING IN THE SYSTEM

FINANCIAL MANAGEMENT IN THE ENTERPRISE

1.1 Definitions and objectives of management accounting

Unlike financial and tax accounting, which are strictly regulated by standards and legislation, management accounting is conducted in accordance with the information needs of the management of a particular enterprise. Therefore, there are many different approaches to the development of a management accounting system, to the methods of its maintenance, and even to the very definition of management accounting.

The main goal of implementing a management accounting system at an enterprise is to provide the company's management with the most complete information necessary for effective work. Often in Russian enterprises, the introduction of management accounting is carried out on the initiative of senior management, which lacks specific management information.

The development and implementation of a management accounting system requires a lot of effort and time (in large enterprises this process can take several months) and does not immediately produce results. It will take time both to test the system and to accumulate information that will help adjust the management accounting system during implementation.

Management Accounting– this is an accounting of the “internal kitchen” of the enterprise. Management accounting exists in any organization - the value of its application depends significantly on the extent to which management accounting data is “delivered” for decision making in real time and real value. The ideal scheme for management accounting at an enterprise is the creation of internal management accounting standards that reflect the business culture.

Management accounting is a comprehensive system of identification, measurement, accumulation, analysis, preparation, interpretation and presentation of information necessary for interested internal users to plan, evaluate and control business activities, in other words, operational information on-line for internal users of the organization ( directors, managers, accountants, shareholders) with elements of analytics.

The objectives of management accounting are:

Formation of complete and reliable information about the activities of the organization and its property status;

Control of the availability and movement of property and liabilities, reasonable use of material, financial and labor resources in accordance with approved standards and budgets;

Maximizing the company's profit and maintaining it at a satisfactory level;

Providing management with timely and complete information for making management decisions;

Prevention of negative results of economic activity.

In reflecting financial and economic operations in management accounting, the basic principles are:

Completeness – timely reflection of information on business transactions in full;

Timeliness;

Credibility;

Prudence - greater readiness to recognize expenses, losses and liabilities than possible income and assets, while at the same time preventing hidden reserves;

The priority of content over form is the reflection in accounting of the facts of economic activity, based not so much on their legal form, but on the economic content of the facts and conditions of economic activity.

1.2 Management accounting in the financial management system

Management accounting in the financial management system of an enterprise is not built on its own, but mainly to solve problems of operational analysis and management at the enterprise. The pinnacle of a financial manager's skill is the use of modern methods of financial planning and control. It considers the tasks of assessing and planning all input and output cash flows as a result of the company’s activities in the short term - month, quarter, year. The main purpose of such planning is to streamline all the activities of the company by adopting a budget and then executing it.

Enterprise management is the ability to rationally manage funds and other resources. Together with the forecasting and planning system and decision-making methods in the field of management, understanding the principles and technologies of financial management of an enterprise is a necessary condition for business development.

Changes in the Russian economy associated with the transition to market relations require from organizational leaders new methods and approaches to management technologies, including in the field of financial management. An analysis of the financial and economic results of Russian organizations in modern conditions shows that the deterioration of their situation is due to the lack of professionalism and a systematic approach to managing financial activities. Most Russian enterprises are still focused on survival by selling liquid fixed assets, searching for short-term sources of financing, and diversifying production. But the lack of consistency leads them to zero effectiveness of the methods used and dissipation of available financial resources. To avoid these shortcomings, it is necessary to build an effective financial management system for the enterprise.

Financial management was present in the planned economy and was a financial and credit mechanism as part of the economic mechanism of the state. It was based on a centralized system of planning, forms, methods and conditions for financing and lending to social production.

The financial and credit mechanism was based on the recognition of the commonality of money circulation between enterprises and the state. Its action was aimed primarily at managing the finances of enterprises. But the ultimate goal of such influence is to ensure normal conditions for the functioning of finance and credit on a national scale. In the conditions of the distribution system, the financial and credit mechanism and thereby financial management was controlled by the state, and self-regulation at the organizational level was practically not implemented.

In the Russian Federation, certain elements of financial management are present at different stages of economic development, but in the full sense of this concept, financial management has not been implemented. The transition to market relations leads to the separation of financial management functions at the state level and financial relations of the organization to self-regulation within commercial organizations, which creates a formal basis for the implementation of financial management. The functions of the state remain the financing of the social sphere, and a commercial organization has self-financing of its own development, therefore the well-being of the organization depends on the correctness of actions and the speed of reaction of the management personnel of this organization, and not on state funding.

Initially, the functions of financial management were carried out by specialists in the field of enterprise economics, planners, and accountants-analysts, who went from accounting and making calculations, making plans, forecasts and calculating prices to preparing and making decisions on a wide range of enterprise resource management problems. Financial management has been assigned the role of control, strict accounting and optimization of production process costs. The latter is related to the organization of tax planning at the enterprise.

The next step in the development of financial management was the development of universal rules and procedures for decision-making in this area, which made it possible to interpret it as a set of general standardized financial methods, procedures and technologies. Enterprise managers learn to make independent financial decisions on the formation of financial resources and their structure, on areas of investment, and on the use of new financial instruments.

At the present stage of development of market relations, when organizations operate in an unstable socio-economic environment, their management understands the need for rapid changes in management, including elements of financial management. This leads to the need to implement systemic principles.

Financial management is a system that has certain patterns and features, more precisely, a subsystem in the enterprise management system. Its implementation is aimed at achieving the general goals of enterprise management. Being a managed system, financial management is largely subject to government regulation through taxes, licenses, tariffs, refinancing rates, etc. A managed system means that financial management is an object of management that is influenced by the flow of management decisions. Therefore, the main principle in justifying the method of forming a financial management system will be the principle of consistency.

On the other hand, financial management itself is a system of interrelated elements. Within its framework, the following elements can be distinguished: organizational structure, personnel, methods, tools, information support, technical means that influence the solution of strategic and operational issues of financial management, thereby forming the financial policy of the organization, which mediates the solution of production issues and relationships with budget, investors, owners and counterparties. The decisions of the latter, in turn, adjust the functioning of the financial management system, which is necessary to adapt to changes in the external environment.

The elements of the financial management system should work not separately, but in combination, taking into account the phases of the organization’s development life cycle. Only then can we talk about a system, and then a synergistic effect occurs, which will lead to an increase in labor productivity and (or) a reduction in production costs. This effect of joint action is greater than the simple sum of individual efforts.

1.3 Construction of a financial management system

When building a financial management subsystem, it is necessary to take into account several principles:

adaptability: the financial management subsystem is not isolated within the boundaries of enterprises, but constantly takes into account changes in the external environment and makes timely adjustments to the system;

functionality: compliance of the implementation of the financial management mechanism (and changes in it) with the overall goals of the organization;

complexity: complementarity of individual techniques and methods of each other.

Building a financial management system by identifying its main elements and determining their relationships is a necessary, but not sufficient condition for effective management in the field of finance. Although the general composition of the elements is the same, the specific techniques that a leader must use to effectively achieve the organization's goals can vary greatly.

The dynamism of the financial management system is due to the fact that it is affected by the constantly changing amount of financial resources, expenses, income, fluctuations in demand and supply for capital. These changes are largely determined by the cyclical nature of the economic development of each production and the dependence of the functioning of the organization on this factor.

A crisis in an organization is evidence that the economic system has faced serious limitations in its development. Minor changes within the existing system of managing an economic entity during a crisis do not produce results. The crisis provokes and pushes the economy and individual organizations to search for new ways of development. At the stage of “recession” it is necessary to already have introduced innovations in the organization (technical, economic, organizational), which can ensure higher efficiency of capital.

Almost all methods and tools of financial management work at each phase of an organization's life cycle. But we can highlight the most important of them, based on the goals of the stage. For each organization from this set, it is necessary to select methodological support corresponding to the phase in which it is located.

As the organization develops, the financial management information system undergoes changes. When an organization is formed, a system of traditional financial accounting is being established - forms of primary documentation are being developed, and a document flow for financial management is being formed. For the purposes of internal accounting and financial decision-making, only selected management accounting indicators are used.

With an increase in sales volume and growth of the organization, information in the context of financial accounting no longer meets the requirements of internal financial management, because intended for external regulatory authorities. Therefore, it is necessary to move from individual indicators to setting up a management accounting system and modernizing the information system to increase its efficiency.

During the crisis phase, in an effort to avoid losses, management carries out restructuring of its enterprise. In accordance with the change in the organizational structure, information flows change and the powers to make financial decisions are concentrated in the upper echelons of power.

Financial management, on the one hand, is an art, since most financial decisions are focused on the future financial success of the company, which sometimes involves a purely intuitive combination of financial management methods, based, however, on knowledge of the intricacies of market economics. On the other hand, this is science, because making any financial decision requires not only knowledge of the conceptual foundations of a company’s financial management and scientifically based methods for their implementation, but also scientific knowledge of the general patterns of development of a market economy.

CHAPTERII. GOALS AND OBJECTIVES OF CREDIT MANAGEMENT

DEBT OF THE ENTERPRISE. TECHNIQUES AND METHODS

MANAGEMENT.

2.1 Essence and content of accounts payable

Each enterprise and organization in its business activities conducts settlements with external and internal counterparties: payers and recipients, customers and contractors, with tax authorities, with founders (participants), banks and other credit organizations, with their employees, other debtors and creditors.

The state of accounts payable has a strong impact on the financial condition of the organization. In order to manage accounts payable, it is necessary to analyze it.

Analysis of accounts payable includes a set of interrelated issues related to assessing the financial position of the enterprise.

Depending on whether obligations arise on the part of the enterprise or in relation to it, in current practice it is customary to divide debt into receivables and payables.

Accounts receivable mean the debt of other organizations, employees and individuals of this organization (debt of buyers for purchased products, accountable persons for amounts of money issued to them, debt of founders for contributions to the Authorized Fund, etc.). Accordingly, organizations and individuals who owe this organization are called debtors.

Accounts payable refers to the debt of a given organization to other organizations, employees and individuals, who in turn are called creditors. If the debt to creditors arose in connection with the purchase of material assets from them, such creditors are called payers.

Debt on accrued wages to employees of the organization, on the amounts of accrued payments to the budget, extra-budgetary funds, to social funds are called mandatory distribution. Creditors whose debt arose from other transactions are called other creditors.

For the purposes of preparing financial statements, the Regulations on Accounting and Accounting Reports in the Russian Federation and a number of other regulations establish the division of receivables and payables into short-term and long-term. The boundary between long-term and short-term debt is the maturity date in 1 year. Below this threshold, debt is considered short-term, above it - long-term. Debt with maturities up to 12 months and over 12 months is reflected separately in the balance sheet.

The division of debt into short-term and long-term plays a significant role when analyzing the assets of an enterprise and their turnover.

Classification of debt by maturity

short-term

Enterprise debt

long-term

In some scientific literature, in order to determine the parameters of receivables of recipients (customers), it is proposed to rank not only the debt itself, but also the recipients themselves according to risk categories. It is advisable for the recipients to be ranked by employees of the contractual legal bureau of the sales department according to the developed algorithm based on the following conditions:

1. The degree of fulfillment of obligations to pay for products.

Based on statistical accounting, it is proposed to calculate the degree of fulfillment of contractual obligations by individual recipients. Recipients can be segmented according to a number of characteristics that are criteria for market segmentation, such as: geography, size of the organization, industry affiliation, etc. Moreover, if the customer enterprise is a new counterparty, then the risk category of its order is determined based on the degree of fulfillment of obligations by that characteristic group customers to which it is assigned.

2. Availability and content of primary information about the customer (recipient).

Such information may be: bank and audit certificates, reviews of other organizations, credit ratings of specialized agencies, data from informal sources, etc.

Based on the ranking, it is possible to divide order classes by risk (high, medium, low) and set commercial loan parameters for each recipient (customer) in accordance with the risk category of his order, i.e. a certain limit on the amount of receivables and a deadline for commercial lending. Lending parameters for each risk class must be recorded in the appropriate section of the “Regulations on Sales Policy”. Decision-making on exceeding lending parameters must be subject to justification, which is within the competence of the Deputy Director for Economic Affairs.

Accounts receivable and payable are an inevitable consequence of the currently existing system of cash payments between organizations, in which there is always a gap in the time of payment with the moment of transfer of ownership of the goods, between the presentation of payment documents for payment and the time of their actual payment.

Analysis of receivables and payables includes a set of interrelated issues related to assessing the financial position of the enterprise.

Although accounts payable are economically beneficial for an enterprise, in some cases it leads to penalties and a decrease in the enterprise’s rating among competitors. Therefore, this type of debt must also be dealt with.

One of the main conditions for the financial well-being of an enterprise is the influx of cash to cover its current obligations. Consequently, the absence of such a minimum required cash reserve indicates the presence of financial difficulties in the enterprise. At the same time, an excessive amount of cash indicates that the enterprise is actually suffering losses. associated with inflation and depreciation of money. In this regard, there is a need to assess the rationality of cash management at the enterprise.

2.2 Effective methods of managing accounts payable

debt

In order to effectively manage a company’s debts, it is necessary, first of all, to determine their optimal structure for a specific enterprise and in a specific situation: draw up a budget for accounts payable, develop a system of indicators (coefficients) characterizing both quantitative and qualitative assessment of the state and development relations with the company’s creditors and accept certain values of such indicators as planned. The second step in the process of optimizing accounts payable should be an analysis of the compliance of actual indicators with their framework level, as well as an analysis of the reasons for the deviations that have arisen. At the third stage, depending on the identified inconsistencies and the reasons for their occurrence, a set of practical measures should be developed and implemented to bring the debt structure into line with the planned (optimal) parameters.

Strategic approach.

In order for relations with creditors to best meet the goals of ensuring the financial stability (security) of the company and increasing its profitability and competitiveness, the company's management needs to develop a clear strategic line regarding the nature of attracting and using borrowed capital.

The first fundamental question that, in this regard, faces the management of the company is: to conduct business using its own or borrowed funds? The second “dilemma” is the quantitative ratio of equity and debt capital. The answers to these questions depend on many factors, both external (industry characteristics, macroeconomic indicators, state of the competitive environment, etc.) and internal (corporate) order (the capabilities of the founders, creditworthiness, asset turnover, level of profitability, cash shortages, short-term goals and objectives, long-term plans of the company and much more).

It is generally accepted that an enterprise that uses only its own capital in the course of its business activities has maximum sustainability. However, this assumption is fundamentally incorrect. From the point of view of competition in the market, it does not matter what capital the business operates with: its own or borrowed. The only difference may be the differences in the cost of these two categories of capital. Lenders (whether banks or suppliers of goods and services) are willing to lend to someone's business only in exchange for a certain (sometimes quite high) income (interest). Moreover, even equity capital is not “free”, since investments are made in the hope of obtaining a profit higher than what banks pay on deposit accounts. From the point of view of the company’s strategic development, the starting point should be: the size and dynamics of business profitability, which directly depend on the size of the market share, pricing policy and the size of production (circulation) costs. The issue of sources of business financing is secondary in relation to the goals of achieving the competitiveness of the enterprise.

Conclusion. When developing a strategy for lending to their own business, managers must proceed from the solution of the following priority tasks - maximizing the company's profits, minimizing costs, achieving dynamic development of the company (expanded reproduction), establishing competitiveness - which ultimately determine the financial stability of the company. Funding for these tasks must be achieved in full. To do this, after using all your own sources of financing (own capital and profit are the cheapest resources), borrowed funds from creditors must be raised in a given amount. At the same time, the most significant limiting factor in the process of planning the use of borrowed capital must be considered its cost, which should allow maintaining the profitability of the business at a sufficient level.

The next step in developing a policy for the use of credit resources is to determine the most appropriate tactical approaches. There are several potential opportunities for attracting borrowed funds: 1) investor funds (expansion of the authorized capital, joint business); 2) bank or financial loan (including the issue of bonds); 3) trade credit (deferred payment to suppliers); 4) use of one’s own “economic superiority”

Since we consider the process of attracting additional financial resources for the purposes of our own business from the point of view of maximizing the security of this process, we should dwell on the two most important, in this aspect, characteristics of this loan method. The first is relative cheapness: as a rule, investors who exchange their funds for corporate rights (shares, shares) count on dividends, which are recorded in the constituent documents (or established at a meeting of participants) in the form of interest. At the same time, if there is no profit at the enterprise, the capital invested in the business can be “free”. The second feature is the ability of investors to influence management processes in the established business company (the right to vote at a meeting of shareholders or participants). Therefore, care should be taken to maintain a controlling interest. Otherwise, initially equity capital may turn into capital transferred as loans to a new investor. This leads to the conclusion that the size of the funds raised by corporate investors is clearly limited: in general, they should not be more than your initial investment: even if the shares (shares) are “scattered” among several holders, there is still a risk (especially if we are talking about a successful enterprise ) concentration of corporate rights under single control.

Financial (monetary) credit is usually provided by banks. This is one of the most expensive types of credit resources. Limiting factors: high interest rates, the need for reliable collateral, “creating” solid balance sheets. Despite the “high cost” and “problematic nature” of attracting, the possibilities of a bank loan (as opposed to an investment loan) must be used by the company 100%. If the project implemented by the company is truly “designed” for a competitive level of profitability, then the profit received from the use of a financial loan will always exceed the required interest. Although banks give preference to this type of security for granted loans, such as collateral, they can also be content with a third party guarantee (if there are solvent founders or other interested parties). Balance sheet indicators also have some “flexibility”, both in the process of their formation and in the course of their perception by the receiving party. The presence of presentable reporting indicators, although a prerequisite for a bank employee, can, to some extent, be ignored due to the presence of real guarantees and security for the loan provided. One significant disadvantage of financial borrowed funds, especially in comparison with investment ones, is the presence of strictly defined terms for their repayment.

Trade credit. The main positive distinguishing feature of this type of obtaining borrowed funds is the simplest (not formalized) method of raising. A commodity loan, as a rule, does not require (unlike a financial loan) the attraction of collateral and is not associated with significant costs and duration of processing (unlike investments). In domestic conditions, a trade loan between legal entities most often represents the supply of goods (work, services) under a purchase and sale agreement with deferred payment. At the same time, at first glance, it may seem that this “loan” is provided free of charge, since the agreement does not provide for the need to accrue and pay interest (or any other) income in favor of the supplier. However, it should be noted that suppliers (including Ukrainian ones) perfectly understand (sometimes only at an empirical level) the principles of changes in the value of money over time, and are also able to quite accurately estimate the size of the “lost profit” from slowing down the turnover of assets frozen in the company’s receivables . Therefore, compensation for such losses is included in the price of goods, which may fluctuate depending on the timing of the deferment granted.

Where control over lost profits is significantly weakened (state-owned enterprises, large joint-stock and industrial companies), losses associated with commodity lending are often compensated by “informal” payments to the management or employees of the company.

Economic superiority. Very often it is built on trade credit relationships and other types of lending. The essence of using the advantages associated with one’s own economic superiority is the ability to dictate and impose on the supplier (lender) one’s own “rules” of the game in the market and the nature of contractual relations (or, as often happens, to violate these same contractual relations without “special” consequences for own "superior" business).

The economic superiority of the borrower over the lender may arise due to the following circumstances:

monopoly position of the buyer in the market;

differences in economic potential; the buyer's total assets significantly exceed those of the supplier;

marketing advantages (for example, a small or start-up manufacturer seeking to promote its products (brand) to a network of large supermarkets or luxury stores is not “able” to dictate its terms or demand the fulfillment of “all” obligations, since it may find itself without the “right” customer );

the buyer “discovered” organizational shortcomings in the management of receivables from the creditor (“gaps” in accounting and control, legal “insolvency,” etc.).

As practical activity shows, not a single enterprise can do without, at least insignificant, accounts payable, which always exists due to the peculiarities of budgetary, rental and other periodic payments: wages, supplies of goods and materials without advance payment, etc. This type of accounts payable debt must be viewed as "inevitable." Although it allows you to temporarily use “other people’s” funds in your own commercial circulation, it is not of fundamental importance if such payments are made within the established time frame.

Company managers, in their desire to make the most of all available credit funds, including in the form of delays in wages, violation of scheduled payments to suppliers, etc., must evaluate the “opportunities” of each individual type of payment individually, since the consequences of such “ deferments" can have different consequences, not only depending on the type of payment, but also depending on the specific "unwitting" creditor.

In order to determine the degree of dependence of a company on accounts payable, it is necessary to calculate the following several indicators.

The coefficient of dependence of the enterprise on accounts payable. It is calculated as the ratio of the amount of borrowed funds to the total assets of the enterprise. This ratio gives an idea of how much the company's assets are formed at the expense of creditors.

Enterprise self-financing ratio. It is calculated as the ratio of equity capital (part of the authorized capital) to attracted capital. This indicator allows you to track not only the percentage of equity capital, but also the management capabilities of the entire company.

The economic indicators described above provide mainly a quantitative assessment of accounts payable. For a more complete analysis of the state of accounts payable, a qualitative description of these liabilities should be given.

Time factor. It is defined as the ratio of the weighted average indicator of the repayment period of accounts payable to the weighted average indicator of the payment period for receivables. At the same time, the average repayment period of accounts payable must be kept at a level no lower than the average terms that the company’s debtors must comply with.

Accounts payable profitability ratio. It is defined as the ratio of the amount of profit to the amount of accounts payable, which are reflected in the balance sheet. This indicator characterizes the effectiveness of raised funds and is especially appropriate to analyze by period. At the same time, the dependence of the dynamics of changes in this ratio on those main factors that influenced its growth or decline (changes in repayment terms, structure of creditors, average size and value of accounts payable, etc.) must be determined.

2.3 Analysis of accounts payable

The analysis of accounts payable begins with an assessment of the structure and dynamics of sources of borrowed funds:

1. long-term credit loans.

2. short-term credit loans.

3. Accounts payable

4. and other short-term liabilities.

Accounts payable arises due to:

1. The existing payment system (if the accrual and payment terms do not coincide).

2. Failure of the enterprise to fulfill its obligations in a timely manner.

In an in-depth analysis of accounts payable, it is advisable to consider the balance of liabilities at the end of the reporting period according to the terms of formation, as in accounts receivable. Particular attention is paid to overdue accounts payable.

The dynamics of changes in receivables and payables can be identified using horizontal or trend analysis of both absolute values of debt and their shares, as well as changes in the turnover of receivables and payables.

It is also useful to analyze the structure of receivables in accordance with the likelihood of their repayment, dividing them into highly likely to be repaid, likely to be repaid and unlikely to be repaid.

The data for analysis is tabulated. If the analysis reveals a trend toward an increase in doubtful accounts receivable, this indicates a decrease in balance sheet liquidity and a deterioration in the financial condition of the enterprise.

CONCLUSION

The main goal of management accounting in the financial management system is to streamline all the activities of the company.

At the present stage of development of market relations, when organizations operate in an unstable socio-economic environment, their management understands the need for rapid changes in management. This leads to the need to implement systemic principles.

Analysis of various approaches to defining the subject area of financial management allows us to conclude that the evolution of views on the subject of financial management in a condensed, concentrated form repeats in general terms the historically established and alternating postulates of effective management in general management.

The test examined accounts payable, its pros and cons, and methods of managing it at the enterprise.

Accounts payable are to a certain extent useful for the enterprise, because allows you to receive funds belonging to other organizations for temporary use.

However, in some cases, it leads to penalties and a decrease in the company’s rating among competitors. Therefore, this type of debt must be dealt with.

From this work you can make conclusion: managers, when developing a strategy for lending to their own business, must proceed from the solution of the following priority tasks - maximizing the company's profits, minimizing costs, achieving dynamic development of the company (expanded reproduction), establishing competitiveness - which ultimately determine the financial stability of the company. Funding for these tasks must be achieved in full. To do this, after using all your own sources of financing (own capital and profit are the cheapest resources), borrowed funds from creditors must be raised in a given amount. At the same time, the most significant limiting factor in the process of planning the use of borrowed capital must be considered its cost, which should allow maintaining the profitability of the business at a sufficient level.

An increase in the share of accounts payable in short-term liabilities indicates a decrease in the sources of formation of current assets, as well as a decrease in the current liquidity of the enterprise. It is known that current liquidity is the ratio of all current assets (except for deferred expenses) to the amount of current liabilities (accounts payable plus short-term loans). A further increase in the share of accounts payable will reduce the current liquidity of the enterprise.

An enterprise can use bill of exchange forms of payment and the mechanism of mutual settlements to reduce the volume of both accounts payable and receivable. In addition, this will speed up the turnover of enterprise resources.

TEST No. 6

The enterprise's own sources of funds include:

a) Authorized capital of the enterprise;

b) Enterprise profit;

c) Funds received from the issue of shares;

d) Long-term bank loans.

Answer: A

Own capital is understood as a set of economic relations that make it possible to include financial resources belonging either to the owners or to the economic entity itself into economic circulation.

Authorized capital is one of the most important indicators that allows us to get an idea of the size and financial condition of economic entities. This is one of the most stable elements of an organization’s own capital, since changes in its value are allowed in a strictly defined manner established by law.

The authorized capital of an organization is the source of formation of the organization’s funds, which it needs to fulfill its statutory obligations. This is start-up capital for production activities with the aim of generating profits in the future.

The authorized capital is the property assigned to the enterprise by the owner for carrying out business activities. The owners of an enterprise can be both legal entities and individuals, as well as individual individuals.

The formation of the authorized capital is related to the goals of creating the organization and its organizational and legal form. The procedure for forming the authorized capital of organizations of various organizational and legal forms is currently regulated quite strictly by the laws of the Russian Federation.

A contribution to the authorized capital can be securities, things that make up the main category of property (buildings, equipment, etc.) can be contributed. At the same time, there are no legal restrictions on the purpose and quantity of transferred items. In addition, exclusive rights to the results of intellectual activity, except for patents, objects of copyright, including computer programs, etc., can be made as a contribution to the authorized capital. or "know-how". However, the right to use such an object, transferred to the company in accordance with a license agreement, can be recognized as a contribution.

The authorized capital can be characterized as the amount of contributions recorded in the constituent documents of a commercial organization, initially invested by the owner in the property of the enterprise to ensure its statutory activities.

LIST OF REFERENCES USED

1. Artemenko V.G. Financial analysis: textbook. - 2nd edition / Artemenko V.G. Bellendir M.V., revised. - Moscow-Novosibirsk: Business and Service, 1999.-152 p.

2. Babaeva Yu.A., Petrov A.M. - Accounting and control of receivables and payables: Textbook. – M.: Prospekt Publishing House, 2004.

3. Paliy V.F., Paliy V.V. - Financial accounting: Textbook.-2nd ed., revised. and additional - M.: ID FBK-PRESS, 2001.

4. Feldman A. B. Assessment of receivables and payables. Tutorial. Series “To help the practicing specialist.” – International Academy, 2004.

5. Accounting and analysis of receivables and payables. Semenova I. M., Ivashkevich V. B. Textbook. – M.: Publishing house “Accounting”. Series “Library-Journal and Accounting”, 2003. – 192 p.

Many practices contrast management and accounting because they serve different purposes, use different methodologies, and produce different reports. The purpose of this article is to prove that this is not entirely correct, or rather, not at all correct statement.

Let's start with the basics. The basis of any accounting is a business transaction, or, quite simply, an event. An event gives rise to its registration in one form or another. Let's say a product was released from a warehouse. What is interesting to an accountant? Has the sale actually taken place or is it a delivery against prepayment, or transportation from one warehouse to another. What is interesting to a manager? How much goods does he have in his warehouse, what is the cost of transportation, at what cost was the goods sold, in which warehouse is it more profitable to store it.

All this information describes the same event, but in different ways, down to dates, volumes and numbers. Does this mean that the information is different? No. It is evaluated according to various criteria for use in a particular area.

Not finding available ways to retrieve information (or simply not knowing about them), users invent their own ways of collecting and processing it. Paper media, spreadsheets, self-written programs and finished products tailored to a specific need are used. All this can work well in a small company where there is no need to consolidate homogeneous information at a higher level. Otherwise, the problem arises of combining variously structured, collected, processed and summarized data into a single whole.

Here the question arises: what will satisfy various needs without creating unnecessary information flows? Creation of the system. By system we mean rules for collecting, processing and presenting information that are agreed upon and generally used in a certain community.

What does this mean? An agreement is formed between various users on the minimum required set of information related to a specific type of business transaction. For example, payment information should include all the information that is indicated in the payment document, as well as the date of receipt of the goods or work, the number and date of the internal document that approved the feasibility of the actions taken, their volume and cost, and if they were part of a larger project, as well as information about the latter’s details. At first glance, there is information overload, but in reality, the formation of such data is carried out in fairly simple and effective ways.

Separation of powers - each participant in the process is assigned a certain administrative role (to propose, approve, confirm, coordinate, enter data into the system, etc.) depending on the degree of his participation and interest in the result.
Classification of events - each significant type of event must be agreed upon in advance by all parties and codified (it must be assigned a specific code) in order to be reflected in the accounting system.
Determining the formats and directions for reporting - each of the interested and, no less important, consumers of information influencing the process and result is obliged to formulate their requirements for the form and volume in which they want to receive reports on what happened. Ideally, a minimum number of formats should be created that sufficiently satisfies the needs of all interested parties. This will ensure that the reporting services are reasonably efficient.

Non-specialists know that accountants create a chart of accounts, a balance sheet, a profit and loss statement and a cash flow statement, but not everyone knows what they are. But almost everyone in their life has come across such documents as lists of products for purchase in a store or market, a list of materials and the cost of work when renovating an apartment, the set and cost of housing and communal services. Although accounting documents look quite specific to the uninitiated, accountants use the same sources of information as other employees when compiling them.

Let's look at the situation abstractly. In accounting, there are “synthetic” (“artificial”) accounts. They were invented in order to achieve uniformity in design for those who do not care what specific industry their money is invested in. Such investors want standard accounting and reporting principles for a company's activities, whether it produces coffee or underwear. This is external reporting, the formation of which uses the appropriate accounting system and several generally accepted principles. They are aimed at the investor - the one who invested the money, or the lender - the one who lent it.

Now let’s think about those who multiply this money. These are hired employees of various levels - from a general worker to a general director.

The three most important components that interest the manager from the point of view of monitoring the result are resources, volumes and timing. Exactly in this sequence. As for resources, there are several main components:

money;
People;
time.

They are all complementary and interchangeable. The more people there are, the less time is needed, but the more money is required. The less money, the fewer people you can hire or the lower their quality will be, respectively, the longer the result will be, etc.

Volumes are specified within the terms of reference. Timing is theoretically a function of resources and volumes. However, in practice, there are a huge number of variables at play that can significantly influence the outcome, both controllable and uncontrollable factors.

In fact, there are no uncontrollable factors at all. The only question is who controls them and at what level. As your company grows in size, you will be able to influence more and more factors. Costs can be regulated through competitive selection of suppliers, and revenue, accordingly, through participation in such competitions. Burdened with knowledge of the realities, the reader will grin and twirl his finger at his temple, but still control in the process of negotiations, purchases and sales is possible, albeit in a very reduced form. The signed contract binds you with conditional obligations. However, no one is stopping you from agreeing on others if the situation changes or, for example, if you think you made the wrong decision. It all depends on the counterparty’s interest in continuing cooperation, a well-drafted contract and the acceptability of the terms of its revision. Let's return to the topic of accounting.

The most important areas of management accounting control are:

current expenses;
capital expenditures;
working capital.

All these concepts relate to the area of resources.

Operating costs are typically measured in monetary units per unit of output. This measurement is often called “specific”. Variable and fixed costs are distinguished here. It should be noted that expenses can be called such only for a specific period of time. For example, costs that are constant over a year may be variable over a two-year period.

Example 1. You have purchased a new mobile tariff. The previous tariff - fixed and prepaid - you used for five years. Now the cost depends on the traffic and all operations are paid upon delivery. Costs were fixed and became variable.

This is, of course, a very simplified example. In manufacturing, there are many types of costs that depend on volume with a time lag. Changing the required electrical power, required labor, number of units of equipment, depending on the technology used, can significantly affect the budget. The costs of these components are fixed in the short term, but become variable in the long term.

Here you can use analytical accounts, which allow you to track costs in relation to the object (what you spend on), the subject (who spends), the goal (why it is spent) and many other parameters. It is only important to decide which information is most valuable. Otherwise, the risk of unproductive overload of services with the work of entering the corresponding codes into the system and errors during this entry increases.

Example 2. You spent 10 thousand rubles. for the purchase of paints and varnishes that can be used in various industries. For now, you are only interested in information about who ordered these materials, in accordance with which approval document, when payment was made, when delivery will be made and to which warehouse. Each of the components can be designated by its own numerical and alphabetic code, which will be linked to the accounting entry, and if necessary, it can be used to draw up a report based on system data. Next, you released the materials from the warehouse into production. The credit of this transaction will contain exactly the same codes as the debit of the previous one, and the debit of the new one will include codes of the product for the production of which these materials are intended, the materially responsible person, the place of application, the time of execution, etc.

Thus, analytical accounts complement each of the accounting entries, including the information necessary for a specific user.

Analytical accounts can be codified in various ways. Their designations may depend on the accounting system you use, the industry you work in, and the shop or service where they are used. Their advantage and at the same time disadvantage is that the set, content and purpose of these accounts are most often determined by people far from accounting. These people often don't even suspect that these can be called bills.

Example 3. The shop manager wants to have information about how many parts are produced on each machine per shift, i.e. he is interested in:

machine inventory number, compliance with production requirements and degree of wear;
the name of the worker who uses it, his qualifications and experience;
the actual quantity of parts and the quality of their manufacture.

This process involves the worker himself, his foreman, a machine maintenance engineer, a timekeeper, a quality control department employee, an employee of the warehouse where parts are received, and, of course, an accountant.

For an accountant, the event will look very simple (Table 1).

Table 1. Accounting type posting report

The main goal is to record this event in such a way that it appears correctly on the balance sheet and income statement.

What is required for management accounting in this case? As part of the loan, additional details appear (the amount and type of detail may vary). The information will be reflected not in one transaction of the form “credit one account and debit two others,” which will suit the accountant, but in two transactions crediting the same account with the same details, but at the same time debiting different accounts with different additional characteristics. This will allow you to filter the data according to the necessary criteria. The credit to the "Production Costs" account will include the machine number, worker's name and production volume already mentioned above. Depending on whether the produced part will go directly from the warehouse to further production or sale, or will be sent for rework or disposal, it will be possible to draw a conclusion about the performance of a particular machine or employee. This information will provide the manager with food for thought: what determines the difference between the overall and useful productivity of the machine and the employee working on it. It can be presented, for example, in the following form (Table 2).

Table 2. Management type posting report

This table should be supplemented with more detailed data about machines and employees, which are also contained in the system with appropriate settings. Such heterogeneous information can be combined in a single database, without any additional labor costs or requirements for information storage devices.

It is worth distinguishing between subaccounts of synthetic accounts and analytical accounts, although, in essence, they perform the same function - clarifying information. However, sub-accounts are parts of a synthetic account, and analytical accounts are additional data organized on the basis of criteria not directly related to accounting, but accompanying events in the interests of those involved/responsible.

Capital expenditures are (should be) a tool for developing a company or at least keeping it afloat. Such maintenance is usually associated with the replacement and/or modernization of existing facilities within existing production facilities. Development is associated primarily with the implementation of new investment projects on our own or the acquisition of existing and operating facilities within the framework of the company's strategy. In all cases, the decision is made on the basis of forecasts of the main indicators of investment efficiency, and further monitoring is carried out within the framework of management accounting.

Here, additional codes in accounting entries can indicate the work classification structure and the cost classification structure. Most often, the structure of work concerns areas of activity (design, procurement, logistics, implementation, management). The cost structure is closer to the accounting understanding, i.e. it reflects the composition of the costs of implementing a particular object (cost of equipment and materials, transportation, storage, installation and construction, debugging, testing, commissioning, etc.). In principle, these two components can be represented in the form of a matrix, where the elements of the structures can be located vertically or horizontally, and at their intersection there will be specific cost centers that can be grouped for tax, accounting and management accounting purposes.

Example 4. Let's consider the costs of the project in terms of work and expenses. In table 3 you can see what the final cost of the project consists of, including internal and external costs.

Table 3. Cost matrix in terms of work structure elements and costs, thousand rubles.

In this case, our task is to determine which of the intersections is the most important and which of them should be given attention. The same principle applies to investments as in medicine - “do no harm.” Those costs that are controlled within the company must be correlated with utility, i.e. cost and effectiveness of their control. At the same time, we will keep in mind that initially the potential efficiency of capital investments is determined not by accounting indicators, but by such indicators as the internal rate of return, net present value, and profitability index. These indicators are not reflected directly in the reporting, but can be calculated based on the data that it provides. They directly depend on the resources, volumes and deadlines already indicated above. The longer the project implementation period, the greater the required resources, the larger the volume of capital investments, the lower the efficiency indicators.

What are cost elements used for in one direction or another? First of all, to track the progress of the project in comparison with planned indicators. Knowing that the initial budget is being executed in accordance with the forecast, we can draw a conclusion about the degree of literacy in its preparation and the professionalism of its implementation. This is not only a way to evaluate the current project, but also an opportunity to select personnel for future ones.

Any project initially has its own execution schedule, which is usually very optimistic. It has already been said above that time is converted into money. Accordingly, it makes sense to control the implementation schedule. How? By introducing control points. Our task is to break the action into intervals and determine the resources needed to reach the next point. More precisely, it is the work of those who request resources, in addition to which their tasks include implementing the idea, reporting how the resources were spent, and obtaining the next tranche of funding. And here the earned value graph will be useful to us. I don’t like the word “development” in economics in general, but in this case it is quite applicable. Let us briefly consider the principles of constructing such a schedule: the initially declared costs for production volumes over time during the implementation of the project are adjusted to the same factors. What factors are meant? For example, given the initially stated costs, by a certain point certain objects must be built in such and such quantities (a certain percentage of the expected result). During interim control, management evaluates what percentage of work has been completed: how many facilities have been built to date and how much money has been spent on it. As a rule, the picture is depressing, but it can also be different.

Example 5. It makes no sense to present a specific project schedule here, but it makes sense to describe the principles of its construction. The x-axis shows time, and the y-axis shows costs. The graph shows three indicators for the entire project period, divided into actual and forecast data:

how much should have been done at the prices declared during the defense of the project, and how much should remain;
how much has been done in real prices compared to what was planned at a particular moment and what is forecast now;
What would the initial timing forecast look like, taking into account the current price level?

This analysis gives a fairly complete picture of the project team’s ability to plan and implement actions to implement the project.

Working capital is one of the most important management tools. To simplify, we reduce it to its main components: inventories, receivables and payables. For all these categories, the most important criterion is time. Let me remind you that accounts receivable are revenues awaiting payment. Accountable is, accordingly, the costs presented for payment. Inventories can be both materials purchased for production and finished products not sold to the consumer. Based on our ideas about efficiency, the issue of management accounting is turnover, or the “age” of a position in the accounting system. The longer accounts receivable or inventory are on the balance sheet, the more costs the company incurs and the less available funds it has. Conversely, the longer it delays paying accounts payable without penalty, the better its balance of payments, so management accounting for working capital is primarily focused on timing.

However, it is also important in which departments, when working on which projects and under whose leadership certain problems or breakthroughs arise in relation to working capital, therefore, in addition to the “age” of a particular position, it is important to indicate this information.

In this article, management accounting is considered as a necessary addition to accounting or financial accounting. To combine these types of accounting, additional elements (“tags”) of posting are used, which can be analytical accounts, information about dates, persons, documents and other attributes inherent in any action in real life, even outside the scope of economic activity. It’s enough to take a closer look and evaluate what kind of information you are interested in and how much you are willing to pay for it.

All types of financial and management accounting are ordered systems that allow you to collect, summarize, register and interpret information about the state of the company's property, resource allocation, financial results and other aspects of activity.

At the same time, in practice, management accounting is increasingly in demand as a single set of technologies in which the information necessary to manage the company as a whole, its structural divisions, and business segments is accumulated and analyzed.

Differences between financial and management accounting

Management accounting separated from financial accounting for objective reasons, in particular, under the influence of competition and the tendency to increase the scale of business. It combined partly accounting and partly operational accounting.

How does management accounting differ from financial accounting? The purposes for using management and financial accounting information are significantly different. The main goal of management accounting is to increase the efficiency of the company's business activities. Information reflected in management reporting is usually available only to internal users. The management accounting system is used by managers at various levels in their current work. This information, among other things, is necessary for making operational management decisions both for the company as a whole for a specific period, and for individual segments of activity, processes, products for different periods of time.

Management accounting is regulated according to the vision of the company itself, which increases the efficiency and versatility of the use of financial and commercial information.

Financial accounting and reporting must meet certain standards that are established and controlled by various external institutions: for example, national legislation (RAS), the International Financial Reporting Council (IFRS). Users of financial statements can be not only top managers and founders of the company, but also various creditors, investors, tax authorities, etc. These users are interested in assessing the financial position and financial results of the company (for example, investors and creditors can assess the financial stability, liquidity, creditworthiness of the company), but they do not have the opportunity to request additional reports from the company.

Financial accounting provides clearly reconciled information that is not subject to adjustment when presented in the form of official reports. Government authorities can use the information to check the payment discipline of the organization in the field of taxes and fees. Financial accounting is intended to carry out, first of all, documentation, evaluation, inventory, cost calculation, etc.

Financial and management accounting have a number of differences. The main differences include:

Periodicity. The reporting deadlines in financial accounting are regulated by external institutions, and in management accounting they depend on the needs of internal users and are established by the company.
Characteristics of indicators. All information in financial accounting is displayed in monetary terms, and management accounting can operate not only with monetary, but also with other indicators. They can be quantitative, qualitative, probabilistic.
Objectivity of assessment. In financial accounting, most often, only objective data are used, while in management accounting, along with actual indicators, estimated information is also used.
Information requirements. In management accounting, special attention is paid to the completeness, efficiency and form of provision of information, in financial accounting - to reliability and compliance with legal requirements and standards.

Figure 1. Fragment of the management report “Analysis of operating activities” using the example of the software product “WA: Financier”.

The relationship between financial and management accounting

The relationship between management and financial analysis is quite close and they have common tasks:

ensure the target financial result of the company’s activities;
identify internal reserves to ensure the financial stability of the company;
determine the feasibility of business operations;
exercise control over the availability and movement of inventory and other property;
determine the feasibility of using resources.

Figure 2. Fragment of financial statements according to IFRS “Statement of Financial Position” using the example of the software product “WA: Financier”.

Analysis and purposes of using information

When analyzing data obtained using management or financial accounting, you can consider various aspects of the company's activities: current, financial or investment activities. For example, management accounting of an organization's financial activities in most cases uses data comparison methods in order to find effective solutions to achieve the company's strategic goals. The relationship between management analysis and management accounting is manifested in the fact that the analysis is carried out on the basis of the obtained management accounting data.

The relationship between financial and management accounting and analysis lies in the fact that many operations in management and financial accounting are reflected absolutely identically. Both systems use the same input information, but they group it differently because they are intended for different purposes.

In financial (accounting) accounting, there are unified approaches and clear methodological rules, determined by various standards, for the provision of information. This approach is necessary to make it convenient for a certain circle of users to use the information and to be able to compare different companies with each other.

Thus, the basic principles of financial accounting, according to international financial reporting standards, are:

accrual principle - events are reflected in the period in which they occurred, regardless of cash flows;
going concern principle – the company will continue to operate in the near future and management has neither plans nor the need to wind down its activities;
relevance – for forecasts and their confirmation;
reliability – completeness and neutrality of information;
comparability – with previous periods and between companies;
verifiability – for example, information can be confirmed by various independent experts;
timeliness;
clarity.

Management tasks have a wider range; they may require in-depth detail, quantitative and qualitative characteristics. For example, with the help of management reports, one can analyze the activities of individual structural divisions, financial responsibility centers, analyze individual projects, forecast future indicators, study the deviation of actual data from planned ones, adjust budgets, etc. Therefore, in management accounting, along with generally accepted principles of financial accounting, other approaches can be used.

For management accounting, financial accounting rules are selected for use that a company's top management considers most useful for making decisions, regardless of whether they comply with generally accepted standards or legal requirements.

Financial reporting may, in turn, include elements of management reporting. For example, under the IFRS Operating Segments standard, companies may report by business segment, which will be prepared on the basis of internal management reporting by segment. At the same time, the results of this component of the business - the segment - should be regularly analyzed by the main executive body of the company (the person responsible for making decisions when assessing and allocating resources).

Thus, management and financial accounting are closely interrelated, but at the same time they have different purposes of application and differences in data analysis.

At the present stage of development of accounting, its structure consists of two components (accounting subsystems):

Financial Accounting;

Management Accounting.

Financial accounting covers information that, in addition to its use within the enterprise by the management, founders, participants and owners of the organization’s property, is also transmitted to external users - investors, creditors, territorial statistical bodies at the place of registration of the enterprise, banks, tax inspectorates and other users of financial statements.

Financial accounting is based on the following fundamental principles:

Accounting must be carried out on the basis of International and Russian accounting and reporting standards.

One of the basic principles of financial accounting is the use of the double entry method, which allows each business transaction to be reflected twice in the same amount on two accounting accounts. At the same time, system accounting is organized using synthetic and analytical accounts.

Financial accounting and financial reporting are carried out in monetary terms.

The main way to present information collected and processed in system accounting to users outside the enterprise is through general-purpose external reporting.

Accounting (financial) information must meet the following requirements: be formed in systemic (accounting) accounting, be reliable, objective, significant, which allows it to be used to influence the result of a decision, must have predictive value, be based on feedback, be timely, comparable and understandable to persons who make or prepare relevant management or other decisions.

The accounting information provided in the financial statements must be conservative, i.e. When valuing assets or property, the lowest possible valuation is usually chosen. Accounting information provided in financial statements must be complete and contain the maximum that is necessary for the user of the information.

An important principle of financial accounting and reporting is the ability to analyze the financial condition of an enterprise, carried out according to the balance sheet, its liabilities and assets using other forms of reporting. Analysis of the financial condition of an enterprise involves identifying the liquidity of balance sheet assets, determining the availability of inventories and other material assets, as well as calculating a number of ratios.

Organization of inflation accounting (taking into account inflation, it is assumed that enterprise prices will change, according to price indices published in the press, they must determine the actual cost of material and other assets).

All information contained in the financial statements is subject to an audit, which is carried out in accordance with the legislation of the Russian Federation.

Thus, financial accounting is regulated; information is presented to consumers in a unified form in accordance with the accounting reporting forms approved by the Ministry of Finance of the Russian Federation. Financial accounting information is open and retrospective in nature and is presented in comparable numerical terms in monetary terms.

Management accounting is an integrated system of cost and income accounting, regulation, planning, control and analysis, which systematizes information for operational management decisions and coordination of problems of future development of the enterprise.

Management accounting is an integral part of the enterprise management system.

It is designed to provide the generation of information for:

Monitoring the efficiency of the organization’s current activities as a whole and in the context of its individual divisions, types of activities, and market sectors;

Planning future strategies and tactics for carrying out commercial activities in general and individual business operations, optimizing the use of material, labor and financial resources of the organization;

Measurements and assessments of business efficiency in general and in the context of organizational units, identifying the degree of profitability of individual types of products, works, services, sectors and market segments;

Adjustments of control influences on the progress of production and sales of products, goods and services, reducing subjectivity in the decision-making process at all levels of management.

Based on this, the main principles of management accounting are focus on achieving the set goal of entrepreneurship, the need to provide alternative options for solving the problem, participation in the selection of the optimal option and in the calculation of standard parameters for its implementation, focus on identifying deviations from the specified performance parameters, interpretation of identified deviations and their analysis.

The main objectives of management accounting are presented in Fig. 1.4.

Rice. 1.4. Objectives of management accounting

Based on management accounting data, management decisions are made on the introduction of modern equipment and technology, the use of new forms of labor organization, and the identification of reserves for saving material and labor resources in order to reduce costs and increase profitability.

Depending on the tasks performed, three main areas of management accounting can be distinguished:

1) Production cost accounting and costing products (works, services). Within the framework of this direction, information is systematically collected on completed production costs, accumulated costs are grouped and distributed by type of products (works, services) produced, after which the cost of products (works, services) is calculated.

2) Accounting for financial results by responsibility centers. Within the framework of this direction, management control is exercised over the structural divisions of the organization that produce certain products (works, services) and incur costs.

3) Differentiated accounting Within the framework of this area, specific business models are assessed, and indicators for future periods are predicted to answer the question of which business model will be the best.

Management accounting data is intended for internal users: managers of the organization, accounting department, as well as planning, production and other services of the organization. Management accounting and financial accounting complement each other: management accounting data on production costs and production costs are used in financial accounting in estimating work in progress, finished goods and cost of sales.

The procedure for recording production costs and calculating costs is regulated by industry instructions, but in general, management accounting depends on internal decisions of management. The basis for decision making is to compare the cost of obtaining information about the actual costs of material, labor and financial resources with the value of this information for management.

Management accounting is characterized by:

1) lack of standardization - methods and forms of management accounting are not limited by regulatory regulation; reporting data presentation forms can be any; the terms used can be used in various senses convenient for internal purposes;

2) confidentiality - management accounting information is intended exclusively for internal consumption;

3) planned in nature - management accounting is designed to provide forecasts for various aspects of the organization’s activities (sales volume, operating costs, personnel costs, etc.);

4) measuring indicators, both in monetary and physical terms, for example, measuring the amount of inventory in pieces, linear meters, tons, etc. A similar measurement is also used in analytical accounting;

5) the relevance of the information provided (through the use of rough estimates, an incomplete data set). Operational reporting is compiled on the basis of operational accounting data and contains information on the main indicators for short periods of time - a day, a five-day period, a decade, etc. These data are used for operational control and management of production processes and sales of products;

6) flexible, individual reporting frequency;

7) an expanded composition of accounting objects - individual products, types of activities, and centers of responsibility can act as accounting objects.

The need to separate management accounting data into an independent system is largely due to increased requirements for maintaining trade secrets of an organization’s activities and the circumstances under which certain decisions are made. Financial reporting indicators are accessible, if not to everyone, then to many. This can also be applied to financial accounting, which is open to inspections by tax authorities, auditors of a company or partnership, auditors, etc.

The financial reporting system must be transparent and understandable to a competent user. Accounting for management is a different matter; its data is a trade secret not only for external users, but also for the management personnel of the enterprise itself, which is not directly related to solving this problem.

Internal management reporting system is a set of special reporting forms compiled periodically (daily, weekly, monthly, depending on the information needs of the organization) or in any specific situation (for example, in the process of preparing for negotiations) on the basis of primary documents, each of which reflects information necessary for the management apparatus of the organization to manage the enterprise.

In addition, it is necessary to observe the general principles of generating information for management: the principle of advancing data for making management decisions and the principle of responsibility for its consequences. A correct assessment of upcoming expenses and income is much more important than a statement of missed opportunities. At the same time, if there is no responsibility for business results at all levels of management, maintaining management accounting does not make much sense.

Data from well-organized management accounting make it possible to identify areas of greatest risk, bottlenecks in the organization’s activities, ineffective or unprofitable types of products and services, and methods for their implementation. They are used to determine the most favorable range of products and works for given conditions, prices and tariffs for their sale, discount limits under different conditions of sales and payment; to assess the effectiveness of additional costs and the rationality of capital investments.

In the current activities of the enterprise, management accounting information is used to manage deviations. This applies not only to the amount of production costs, but also to deviations in stock standards, prices, payment terms, limitation periods, etc. Based on information about deviations, measures are taken to eliminate the reasons that increase the cost of actual costs, causing losses of profit and property.

By the nature of its application, management accounting is universal. It can be implemented at all enterprises and organizations that have costs and financial results that depend on them.

In conclusion, it should be noted that the information needs of management accounting are reflected in the regulatory documents governing the methodology of financial accounting, for example, in the Chart of Accounts for the accounting of financial and economic activities of organizations and the Instructions for the application of the Chart of Accounts for the accounting of financial and economic activities of organizations, approved by order of the Ministry of Finance of the Russian Federation of October 31, 2000 No. 94n.

The current Chart of Accounts takes steps to further separate financial and management accounting. Technically, an organization can maintain management accounting within the framework of a single system of accounts with financial accounting or in an independent system of accounts. It provides for the possibility of implementing the option with two accounting systems. At the same time, accounts 20-29 are traditionally used to account for expenses by item, and accounts 30-39 are intended to organize accounting of expenses by element. It is recommended to organize the connection between financial and management accounting using so-called reflective accounts.

Tax accounting; concept, goals, organization options

Since January 1, 2002 Chapter 25 “Organizational profit tax” of part two of the Tax Code of the Russian Federation came into force. In terms of its significance, the chapter is key in the reform of the tax system. For the first time, it defines tax accounting at the legislative level and describes the general norms and rules for its conduct.

Organizing a tax accounting system involves determining a set of indicators that influence the size of the tax base, criteria for their systematization in tax accounting registers, as well as the procedure for reflecting information about accounting objects in registers. The taxpayer can develop registers independently or take as a basis those developed by the Russian Ministry of Taxes. The latter are a list of the main indicators necessary for calculating the tax base in accordance with the rules provided for by Chapter 25 of the Tax Code of the Russian Federation.

Tax accounting is a system of summarizing information in order to determine the tax base for calculating tax based on data from primary documents, grouped in accordance with the established procedure. According to the Tax Code of the Russian Federation, the taxpayer organizes the tax accounting system independently, based on the principles of consistency in the application of tax accounting norms and rules. The procedure for maintaining the latter is established by the taxpayer in the accounting policy for tax purposes, approved by the relevant order (instruction) of the head of the enterprise.

The previous procedure for determining taxable profit provided for the use of the balance sheet profit indicator, i.e. profit according to accounting. For tax purposes, the balance sheet profit was adjusted in the “Certificate on the procedure for determining the data reflected in line 1 of the “Calculation of tax (tax return) from actual profit” without being reflected in the accounting records. The new procedure provides for the calculation of the tax base at the end of each reporting period based on tax accounting data.

The purpose of tax accounting is the formation of complete and reliable information on the accounting procedure for tax purposes of business transactions carried out by the taxpayer during the reporting (tax) period, as well as providing information to internal and external users to monitor the correctness of calculation, completeness and timeliness of calculation and payment in tax budget. From this definition it is clear that the goals of tax accounting are somewhat different from those of accounting.

However, both accounts must:

1. Generate complete and reliable information. But accounting - about the activities of the organization and its property status, and tax - about the procedure for accounting for tax purposes of business transactions carried out by the taxpayer during the reporting (tax) period;

2. Provide information to internal and external users. Accounting - to monitor compliance with the legislation of the Russian Federation when carrying out business transactions, and tax - to monitor the correctness of calculation, completeness and timeliness of calculation and payment of taxes to the budget.

Tax accounting data must reflect:

The procedure for forming the amount of income and expenses;

The procedure for determining the share of expenses taken into account for tax purposes in the current tax (reporting) period;

The amount of the balance of expenses (losses) to be attributed to expenses in the following tax periods;

The procedure for forming the amounts of created reserves;

The amount of debt for settlements with the budget for income tax.

It is legally established that confirmation of tax accounting data is:

Primary accounting documents (including an accountant’s certificate);

Analytical tax accounting registers;

Calculation of the tax base.

Analytical tax accounting registers are designed to systematize and accumulate information contained in primary documents accepted for accounting, analytical tax accounting data, in order to reflect it in the calculation of the tax base. The taxpayer develops the forms of registers and the procedure for reflecting analytical data of tax accounting and data from primary accounting documents independently and includes them in the annex to the accounting policy for tax purposes.

Currently, there are various options for organizing tax accounting (Fig. 1.5).

Rice. 1.5. Options for organizing tax accounting

First approach in fact, it presupposes the preservation of the currently used scheme for calculating profit subject to taxation. It is based on the fact that during one reporting period all business transactions are reflected only in accounting registers. At the end of the period, accounting data is transformed into tax accounting data.

The advantage of this approach is the preservation of a stable and controlled connection between accounting and tax accounting. The disadvantage is the impossibility of obtaining individual tax accounting data taken into account when calculating the tax base, for example, the amount of penalties for violating the terms of contracts, and so on.

At the core second approach lies the principle of priority. In this case, compliance with the rules and regulations set out in Chapter 25 of the Tax Code (compared to accounting rules and regulations) is considered a more important task for taxpayers. It is based on the fact that during the reporting period, primary documents and other supporting documents are reflected in tax accounting registers, and upon its completion, tax accounting data is transformed into accounting data reflected in accounts.

This approach allows us to most fully take into account all the nuances of recognizing certain types of income and expenses for tax purposes. However, in this case accounting is given a secondary role, which is unacceptable. A significant drawback of the approach is the need to reflect in tax accounting registers information that is not relevant to determining the tax base, for example, on the accrual of dividends, receipt of cash from the bank, intra-business expenses, etc.

Third approach is based on the fact that accounting and tax accounting data are generated in parallel and independently of each other. From the point of view of achieving the ultimate goal of both types of accounting, this approach seems correct, since it allows each accounting system to interpret the fact of economic activity in accordance with the norms and rules established for this system. The disadvantage of this approach is a significant increase in the volume of accounting work when manually maintaining accounting and tax records.

Tax accounting does not provide for a new (tax) chart of accounts - it is maintained in accordance with the tax register system. At the same time, according to the Tax Code of the Russian Federation, enterprises themselves determine how these registers will be formed, but they must be maintained. Based on the information from these registers, in the future, indicators of registers for generating reporting data will have to be built, which will then be transferred to the tax return.

Abroad, it is customary to divide accounting into financial and managerial.

In Russia, traditionally there was no division into financial and management accounting. Accounting was understood as a single whole and served as an information base for analyzing business activities, compiling reports, and making management decisions.

Financial Accounting is a system for collecting accounting information that ensures registration of business transactions and their accounting. It is this type of accounting that allows you to draw up financial statements of an organization.

Management accounting, being an integral part of accounting, is intended to collect accounting information that is used within the organization by managers at various levels.

Any organization needs prompt, reliable and complete information that allows it to adequately respond to changes occurring in both the external and internal environment. Foreign experience shows that management accounting data is the foundation on which informed management decisions are made both in current activities and in the future. Studying the experience of Western companies in the field of management accounting and applying its methods in practice, taking into account national characteristics, makes it possible to increase the efficiency of management in organizations, and therefore their functioning as a whole.

Management Accounting is intended for the preparation of information necessary for carrying out management activities - decision-making, planning, control and regulation. To make management decisions, financial accounting is not enough, but management accounting is also required. This need arises from the various purposes of financial and management accounting.

In general, financial accounting is needed to calculate taxes and control the activities of organizations, as well as to create a unified information space for investors. Therefore, the state regulates the methodology of financial accounting and regulates the rules for its maintenance and reporting. Management accounting allows managers to make management decisions, so the methodology for maintaining it meets the requirements of a specific organization. Consequently, the creation of a management accounting system is individual for each organization.

There are the following differences between management and financial accounting: reporting payment labor wages

1. Financial accounting data is used within the organization by managers at various levels and external users (investors, creditors, banks, tax and financial authorities, etc.) - Financial accounting accumulates information about the property and obligations of the organization. Management accounting is intended to prepare information necessary for carrying out activities of a managerial nature - decision-making, planning, control and regulation. To make management decisions, financial accounting is not enough, but management accounting is also required. This type of accounting is intended for internal users only.
2. Financial accounting is focused on the periodic submission of mandatory reporting of a regulated type. Management reporting is presented as necessary; the forms of reports are not regulated and may vary at different enterprises. Management reporting is prepared only if the benefits from its use are greater than the costs of its collection.
3. Information for making management decisions requires rapid collection of data, and therefore may be incomplete. Approximate information may be sufficient for prompt management decisions, in contrast to financial accounting information, which must be extremely accurate.
4. Management accounting can be more detailed than financial accounting to the extent necessary for making management decisions.
5. Financial statements must be prepared in accordance with government accounting rules or generally accepted accounting standards. This will allow external users to compare and contrast. Management accounting is conducted according to internal rules that are most suitable for making management decisions.
6. Financial reports are compiled on the basis of already completed facts of the enterprise’s economic activities. And managerial ones may contain forecasts or facts that have not yet happened. In addition, management reports contain planned indicators.
7. Management accounting is not regulated by government regulations, and its data is confidential.

Financial accounting data is not confidential, and in some cases legislation provides for mandatory publication of financial statements in the media.

To maintain management accounting for the purposes of enterprise management, the following systems are required:

· budget planning;
· planning cash flow estimates;
· management balance planning;
· accumulation of information based on facts of economic activity in the context of budget items, cash flow plan items and management balance sheet;
· management reporting.

The management accounting system involves grouping information about production costs by type, place of origin, and cost carriers.

There are many similarities between financial and management accounting. We can say that there are more similarities than differences, i.e. the border between them is very arbitrary. The absence of separate management accounting in an organization does not mean that it is not maintained there. In this case, the functions of management accounting are performed by financial accounting. This is confirmed by many years of experience in domestic organizations.

Setting up and maintaining financial records in foreign Western countries in most cases falls within the competence of the organization itself. Generally accepted norms or rules only define the framework within which an organization is given broad freedom of choice.

Elements of freedom of choice for organizations in financial accounting also exist in Russian legislation, although in a limited form. For example, the Russian Chart of Accounts and the Regulations on Accounting and Reporting provide for organizations the opportunity to use various accounting options. The first accounting standard in Russia - Accounting Regulations "Accounting Policy of an Enterprise" PBU 1/98 - clearly defines that accounting policy as a set of accounting methods is an internal matter of each organization.

The need to determine generally accepted rules and regulations for Western companies is due to the need for objective and meaningful information for making informed decisions by various groups of users: company owners, creditors, investors, government organizations, employees of the organization, etc. For this purpose, so-called accounting standards are being developed in various countries. For example, in the USA this is the Generally Accepted Accounting Principles, in the UK it is the Statement of Accounting Standards. National rules governing record keeping vary significantly. However, it is possible to identify groups of countries that adhere to similar approaches to building accounting systems. Moreover, there are no two countries where the accounting rules would be absolutely identical.

One of the most common is the three-model classification of accounting systems, which includes:

1. British-American model;
2. continental model;
3. South American model.

The British-American accounting system covers Australia, Great Britain, Hong Kong, Israel, Ireland, Iceland, India, Canada, Cyprus, Mexico, the Netherlands, Central America and other countries.

This model is characterized by the financial principles of accounting: the orientation of accounting to the needs of investors and creditors; presence of a developed securities market; high level of professional accounting training; the presence in these countries of a large number of transnational corporations and associations.

The continental accounting system is used in Austria, Belgium, Greece, Egypt, Italy, Norway, Portugal, France, the Federal Republic of Germany, Switzerland, Sweden, Japan and several other countries.

This system takes into account the strong dependence on the banking system and the state:

· close industrial relations with banks; detailed legal regulations for accounting and reporting; orientation of accounting and reporting to the interests of state tax administration;
· macroeconomic planning, driven by the strong influence of the European Economic Community (EEC). The South American accounting system is used in Argentina, Brazil, Peru, Chile, Ecuador and a number of other countries. It is characterized by the following features:
· high and fluctuating inflation rates; strict state requirements for accounting and control of the income of firms and the population;
· unification of accounting principles (there is no freedom to choose the accounting system and procedure, i.e. accounting policies are strictly determined).