Risk-oriented strategic management accounting in Ukraine
In order to survive, Ukrainian enterprises in the conditions of war must look for new ways of effective management, a higher degree of integration of risk management and strategic management. Management accounting helps make risk-based decisions to achieve strategic goals. The expert survey method...
| Main Authors: | , , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Vilnius Gediminas Technical University
2023-11-01
|
| Series: | Business: Theory and Practice |
| Subjects: | |
| Online Access: | https://journals.vilniustech.lt/index.php/BTP/article/view/18951 |
| _version_ | 1797327460987043840 |
|---|---|
| author | Olena Fomina Svitlana Semenova Olena Moshkovska Volodymyr Yevdoshchak Yulia Manachynska |
| author_facet | Olena Fomina Svitlana Semenova Olena Moshkovska Volodymyr Yevdoshchak Yulia Manachynska |
| author_sort | Olena Fomina |
| collection | DOAJ |
| description |
In order to survive, Ukrainian enterprises in the conditions of war must look for new ways of effective management, a higher degree of integration of risk management and strategic management. Management accounting helps make risk-based decisions to achieve strategic goals. The expert survey method made it possible to identify the most significant risks for enterprises in Ukraine in war conditions: the risk of increased costs, reduced income, the risk of inability to repay obligations, loss of customers, non-payment of receivables, loss of asset value, risk of unprofitability, reduction of business and bankruptcy. The strategic management accounting risk matrix shows the probability and potential impact of each risk on accounting data. A strategic plan and measurement of the effectiveness of risk-oriented strategic management accounting was developed. It shows the relationship of accounting objects, the financial statements of the enterprise, with analytical indicators for assessing the financial condition and the impact of risks under pessimistic, optimistic and optimal scenarios. In practice, it helps to identify risks, determine their impact on enterprise performance indicators, model indicators, assess their compliance with strategic goals, adapt in a timely manner, and make effective management decisions.
|
| first_indexed | 2024-03-08T06:37:55Z |
| format | Article |
| id | doaj.art-0dac18b3ad8d4888af6346e45bb69c70 |
| institution | Directory Open Access Journal |
| issn | 1648-0627 1822-4202 |
| language | English |
| last_indexed | 2024-03-08T06:37:55Z |
| publishDate | 2023-11-01 |
| publisher | Vilnius Gediminas Technical University |
| record_format | Article |
| series | Business: Theory and Practice |
| spelling | doaj.art-0dac18b3ad8d4888af6346e45bb69c702024-02-03T09:22:51ZengVilnius Gediminas Technical UniversityBusiness: Theory and Practice1648-06271822-42022023-11-0124210.3846/btp.2023.18951Risk-oriented strategic management accounting in UkraineOlena Fomina0Svitlana Semenova1Olena Moshkovska2Volodymyr Yevdoshchak3Yulia Manachynska4Department of Accounting and Taxation, State University of Trade and Economics, Kyiv, UkraineDepartment of Accounting and Taxation, State University of Trade and Economics, Kyiv, UkraineDepartment of Accounting and Taxation, State University of Trade and Economics, Kyiv, UkraineDepartment of Finance, Accounting and Taxation, Chernivtsi Institute of Trade and Economics of State University of Trade and Economics, Chernivtsi, UkraineDepartment of Finance, Accounting and Taxation, Chernivtsi Institute of Trade and Economics of State University of Trade and Economics, Chernivtsi, Ukraine In order to survive, Ukrainian enterprises in the conditions of war must look for new ways of effective management, a higher degree of integration of risk management and strategic management. Management accounting helps make risk-based decisions to achieve strategic goals. The expert survey method made it possible to identify the most significant risks for enterprises in Ukraine in war conditions: the risk of increased costs, reduced income, the risk of inability to repay obligations, loss of customers, non-payment of receivables, loss of asset value, risk of unprofitability, reduction of business and bankruptcy. The strategic management accounting risk matrix shows the probability and potential impact of each risk on accounting data. A strategic plan and measurement of the effectiveness of risk-oriented strategic management accounting was developed. It shows the relationship of accounting objects, the financial statements of the enterprise, with analytical indicators for assessing the financial condition and the impact of risks under pessimistic, optimistic and optimal scenarios. In practice, it helps to identify risks, determine their impact on enterprise performance indicators, model indicators, assess their compliance with strategic goals, adapt in a timely manner, and make effective management decisions. https://journals.vilniustech.lt/index.php/BTP/article/view/18951accountingmanagementriskmanagement accountingrisk-managementstrategy |
| spellingShingle | Olena Fomina Svitlana Semenova Olena Moshkovska Volodymyr Yevdoshchak Yulia Manachynska Risk-oriented strategic management accounting in Ukraine Business: Theory and Practice accounting management risk management accounting risk-management strategy |
| title | Risk-oriented strategic management accounting in Ukraine |
| title_full | Risk-oriented strategic management accounting in Ukraine |
| title_fullStr | Risk-oriented strategic management accounting in Ukraine |
| title_full_unstemmed | Risk-oriented strategic management accounting in Ukraine |
| title_short | Risk-oriented strategic management accounting in Ukraine |
| title_sort | risk oriented strategic management accounting in ukraine |
| topic | accounting management risk management accounting risk-management strategy |
| url | https://journals.vilniustech.lt/index.php/BTP/article/view/18951 |
| work_keys_str_mv | AT olenafomina riskorientedstrategicmanagementaccountinginukraine AT svitlanasemenova riskorientedstrategicmanagementaccountinginukraine AT olenamoshkovska riskorientedstrategicmanagementaccountinginukraine AT volodymyryevdoshchak riskorientedstrategicmanagementaccountinginukraine AT yuliamanachynska riskorientedstrategicmanagementaccountinginukraine |