Management Accounting System as an Element of an Entity’s Common Information Space

Abstract

In the contemporary world of global competition, rapidly changing business environment, development of innovative products, solutions, technologies, the creation of a common information space of an economic entity which results from intellectualization of its activity has become a must. Management accounting system is an integral part of the information space of any modern organization. Management accounting information which is becoming increasingly complicated currently plays more and more important role in an enterprise’s economic activity and represents an important resource for making more educated effective management economic decisions. That is why it is relevant to study the issues of forming an organization’s information space, identify its components and relationship between them as well as define the role of management accounting subsystem in the information space of an organization. The authors suggest certain amendments to the competence model of a modern management accountant. They also offer a matrix for assessing the level of development of an organization’s information space and defining a strategy of its further improvement. This matrix combines two indicators: the level of information exchange within the organization and the level of its information culture.