Krylov S.I.Ural Federal University named after First President of Russia B.N. Yeltsin, Yekaterinburg, Sverdlovsk Region, Russian Federation 19016708@rambler.ru
Importance In modern conditions, the financial strategy of an entity should guarantee the achievement of its primary business goal, i.e. its owners' (shareholders') material well-being maximization over the long run. This makes relevant the issue of improving the accounting and analytical support to strategic financial management of organizations. Objectives The article is of theoretical and methodological nature, and deals with the possibility of using the balanced scorecard system and its derivative in the form of applied strategic analysis in the process of strategic financial management of organizations. Methods The basis of the methodology of the study is the balanced scorecard concept developed by R. Kaplan and D. Norton, and the conceptual framework for applied strategic analysis that I have developed earlier. Results I show that using the balanced scorecard and applied strategic analysis in strategic financial management involves the formation of a financial component of the balanced scorecard system, and the analysis of its indicators. Financial indicators of the balanced scorecard evaluate the economic impact of undertaken actions, and reflect the adequacy of the financial strategy and its implementation to the overall development of the entity. The analysis of financial indicators of the balanced scorecard implies comprehensive and integrated study of strategic financial aspects of the entity's business operations, and consists of comparative evaluation, diagnostics of deviations, and forecasting the entity's financial figures. Conclusions and Relevance The introduction of the balanced scorecard and applied strategic analysis will increase the efficiency of strategic financial management of an entity under modern free market economy.
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