Subject This article discusses controversial issues of the development of management accounting as a profession. Objectives The paper aims to examine the specifics of organization and content of operation of management accounting professionals in the structure of accounting professions, analyze the experience of foreign companies in this area, develop and provide rationales for the proposals on the implementation of a new approach to management accounting in accordance with the international standards of the Institute of Management Accountants (IMA). Methods The Statements on Management Accounting of Definition of Management Accounting adopted by the Institute of Management Accountants and works of Russian specialists in this field are the methodological basis of the article. For the study, I used the following methods: analysis, synthesis, comparison, and analogy. Results The results obtained support the need to consider management accounting as a separate kind of accounting profession, requiring a substantial extension of its knowledge and competence. The article concludes about the need to shift from the formation of accounting information as a primary task of accounting to the development of a conceptual design of managerial accounting system, obliging the Chief Accountant (Controller) participate in the formulation of a strategy and management decisions at the top level of business management. Conclusions and Relevance The management accounting system should be a strategic business partner, participating in corporate management of commercial organizations, internal control and risk management, financial reporting analysis, expertise on methods of cost management, enabling enterprises to become more successful and competitive. An essential component of management accounting is the participation in formulation and execution of the strategy for operation and development of a commercial organization. Each managerial accountant, being anywhere in the value chain of accounting information should contribute to the success of the organization through participation in the execution of the strategy. The results of this research can be used in the development of theoretical issues of management accounting and its implementation at the enterprises of material production sphere, budgetary, and commercial organizations.
Kotova K.Yu. [A systems approach to the forming a model of management accounting at enterprises]. Upravlencheskii uchet = Management Accounting, 2016, no. 2, pp. 22–34. (In Russ.)
Pavlenkov M. [Controlling in the system of management]. Gosudarstvennaya sluzhba = Public Administration, 2006, no. 5, pp. 69–73. (In Russ.)
Byrne M., Willis P., Burke J. Influences on School Leavers' Career Decisions: Implications for the Accounting Profession. The International Journal of Management Education, 2012, July, vol. 10, iss. 2, pp. 101–111.
Kharitonova N.A., Medvedeva D.S. [Controlling as a tool to manage the organization]. Sovremennaya nauka. Aktual'nye problemy teorii i praktiki. Ser. Ekonomika i pravo = Modern Science: Actual Problems of Theory and Practice. Series: Economics and Law, 2012, no. 10, pp. 51–55. (In Russ.)
Chikov D.V. [The genesis and history of controlling as directions of strategic development of business entities]. Audit i finansovyi analiz = Audit and Financial Analysis, 2015, no. 2, pp. 342–347. (In Russ.)
Ivashkevich V.B. Operativnyi kontrolling [Operative controlling]. Moscow, Magistr, INFRA-M Publ., 2011, 160 p.
Sungatullina L.B. [Development of the theory of strategic management accounting of the expenses on staff remuneration]. Audit i finansovyi analiz = Audit and Financial Analysis, 2013, no. 3, pp. 140–151. (In Russ.)
Garifullin K.M., Ivashkevich V.B., Sokolov A.Yu., Astrakhantseva E.A., Gubaidullina A.R. Formirovanie i ispol'zovanie informatsii bukhgalterskogo ucheta dlya prinyatiya upravlencheskikh reshenii: monografiya [Formation and use of accounting information for making management decisions: a monograph]. Moscow, RUSAINS Publ., 2016, 126 p.
Definition of Management Accounting. Statements on Management Accounting. Institute of Management Accountants, 2008.
Canning M., O'Dwyer B. Institutional Work and Regulatory Change in the Accounting Profession. Accounting, Organizations and Society, 2016, October, vol. 54, pp. 1–21.
Var'yash I.Yu. Kontrolling ekonomicheskikh ozhidanii [Controlling of economic expectations]. Moscow, Financial University Publ., 2012, 173 p.
Leibert T.B., Khalikova E.A. [Integration of accounting and management accounting for the purposes of internal management at the enterprise]. Audit i finansovyi analiz = Audit and Financial Analysis, 2015, no. 2, pp. 61–68. (In Russ.)
Gadatsch A., Mayer E. Masterskurs JT: Controlling. Wiesbaden, GWV Fachverlage GmbH, 2014.
Shigaev A.I. [The use of actuarial accounting data in strategic management]. Agrarnaya nauka, tvorchestvo, rost. Sbornik nauchnykh trudov po materialam VI Mezhdunarodnoi nauchno-prakticheskoi konferentsii [Proc. 6th Int. Sci. Conf. Agrarian Science, Creation, Growth]. Stavropol, Stavropol State Agrarian University Publ., 2016, pp. 129–133.
Sungatullina L.B. [The modern paradigm of managerial accounting and cost analysis on compensation of employees]. Audit i finansovyi analiz = Audit and Financial Analysis, 2014, no. 1, pp. 70–75. (In Russ.)
Yusupova S.Ya. [Controlling in the system of management accounting]. Bukhgalterskii uchet = Accounting, 2008, no. 10, pp. 64–66. (In Russ.)
Bulgakova S.V. Upravlencheskii uchet: metodologiya i organizatsiya [Management accounting: a methodology and organization]. Voronezh, Voronezh State University Publ., 2008, 199 p.
Shigaev A.I. [A system of accounting and analysis for value-based management]. Audit i finansovyi analiz = Audit and Financial Analysis, 2011, no. 4, pp. 338–347. (In Russ.)
Sidorova M.I. [Methods of mathematical modeling in modern management accounting]. Aktual'nye problemy sotsial'no-ekonomicheskogo razvitiya Rossii = Actual Problems of Social and Economic Development of Russia, 2012, no. 1, pp. 16–22. (In Russ.)
Horton K.E., Wanderley C. de A. Identity Conflict and the Paradox of Embedded Agency in the Management Accounting Profession: Adding a New Piece to the Theoretical Jigsaw. Management Accounting Research, 2016, vol. 33, pp. 15–27.
Newman M., Smart C., Vertinsky I. Occupational Role Dimensions: The Profession of Management Accounting. The British Accounting Review, 1989, June, vol. 21, iss. 2, pp. 127–140.
Neu D. Trust, Impression Management and the Accounting Profession. Critical Perspectives on Accounting, 1991, September, vol. 2, iss. 3, pp. 295–313.