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ИД «Финансы и кредит»






International Accounting

Management accounting and analysis as tools to improve the investment efficiency in Russia

Vol. 23, Iss. 10, OCTOBER 2020

Received: 10 September 2020

Received in revised form: 28 September 2020

Accepted: 5 October 2020

Available online: 15 October 2020

Subject Heading: Managerial accounting

JEL Classification: G32, G38, H68, M41

Pages: 1121–1148


Masterov A.I. Centre for Financial Policy, Financial University under Government of Russian Federation, Moscow, Russian Federation


Subject. This article discusses the issues related to the development and implementation of investment projects in the face of difficulties in attracting investment in the development of sectors of the Russian economy, as well as problems related to strategic and tactical management.
Objectives. The article aims to analyze problems related to the practical implementation of investment projects in Russia and identify their causes. The article also aims to identify ways to address the lack of the methodology of management decision-making and justification.
Methods. For the study, I used the methods of statistical and systems analyses, and induction and deduction.
Results. The article substantiates the need for management accounting and analysis approaches to improve the efficiency of investment projects in the Russian practice. It proposes legislative, methodological and institutional measures to put appropriate approaches into investment management in practice.
Conclusions. Under the current circumstances, a management accounting and analysis methodology is required to address the challenges of improving the validity of investment projects and management decisions. The results of the study can be used in the development of legislative, organizational and methodological measures in the search and justification of options to improve the efficiency of investment management in the Russian practice.

Keywords: investment project, efficiency, result-oriented budgeting, management accounting, managerial analysis


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