PROBLEMS OF DEVELOPMENT OF ACCOUNTING AND CONTROL SYSTEMS: INFORMATION ASPECT

Abstract

The main problem of modern accounting is its failure to provide information for the process of making strategic management decisions; hence the paradigm of accounting must be revised. Therefore, the development of modern accounting and control systems is based on the process of implementation of several important steps including: the development of accounting methodology according to the needs of the information economy and international integration processes; rejection of fiscal direction in accounting activity and its reorientation to the needs of corporate governance and investors; systemic development of integrated information management systems; diversification of accounting according to the rule «different information for different purposes and different users»; intellectualization of accounting and providing real-time accounting services; reviewing the structure of value created, taking into account the growing role of intangible assets; dissemination of new assurance services to align corporate accounting systems to the real needs of management, owners of businesses and other stakeholders. The authors investigated the possibility of expanding of the accounting and control functions of management; they also considered ways to strengthen accounting and controlling as an information source of strategic management decisions.