Home  Journals  Financial Analytics: Science and Experience  44(230) - 2014 November

Selecting actual data source to generate management reporting

Available online: 30 November 2014

Subject Heading: MANAGERIAL ANALYSIS

JEL Classification: 

Pages: 57-64

While building management reporting, the choice of the actual data source becomes the primary issue. The selection of a source depends on determining the significance of different parameters facilitating the choice of certain option to generate the actual data. This article considers the background, advantages and disadvantages of actual data collection options for managerial accounting purposes. The authors consider operational accounts, management or accounting records data as the main options. The prerequisites of management accounting data application are the differences in management and financial accounting: record-keeping principles, used analytics, indicators formation methodology. As for financial accounting, the prerequisites include full reflection of business transactions in accounting records, availability of staff shortage. Prerequisites and benefits are the basis for determining the main parameters of actual data source selection. The paper presents the comparison of options of actual data sources on the basis of the authors' experience. Each of the considered parameters may have an advantage in favor of selecting a certain option of actual data formation for the purpose of management accounting. However, if one parameter is more significant while choosing an option and the second criterion contradicts to the selected option, in this case the company should implement changes (for example, organizational changes or changes in accounting methodology). In any case, each company individually determines the actual data source to generate management reporting. At the same time, the assessment of these parameters separately for each company is intended to form a reasonable choice of accounting option.

Keywords: management accounting, real-time accounting, actual data collection, accounting

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ISSN 2311-8768 (Online)
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