Subject Nowadays, organization and maintenance of management accounting gain growing practical importance in the activity of business entities. It results in management statements generation, which are an ideal information base for management decision-making. Objectives The main objective of this article is to study the modern paradigm of management reporting of business entities and to determine the main trends in its development. Within the stated objective, we set and solved the following tasks: to develop a unique approach to the interpretation of the management reporting concept on the basis of the study of various Russian and foreign authors' standpoints; to make a comparative analysis of external and internal management reporting in the strict sense; to examine the applied classifications of management reporting and their development; to classify the main criteria of assessment of management reporting; to develop the modern paradigm of management reporting. Methods To ensure consistency of definitions, we have reviewed the interpretation of the management reporting concept by different scientists. Results We have developed our approach to the interpretation of the management reporting concept in the narrow and broad sense; offered a classification of management reporting; proposed five main criteria of management reporting evaluation, which lead to overall assessment; developed the modern paradigm of management reporting, which requires convergence of external and internal, financial and nonfinancial information generated in the accounting and analytical system of a business entity using standardization and the best foreign practices in the sphere of integrated reporting generation. Conclusions and Relevance We conclude that the modern paradigm of management reporting is directly related to the reporting paradigm, which discloses information on financial sustainability, and which is focused on future, on revealing the reserves for efficiency increase, on implementing the chosen strategy and its timely update. All these measures are necessary for efficient management decision-making.
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