The functional significance of modern business strategies on the example of management accounting

This article explores the role of management accounting in the context of modern entrepreneurial reality. Considering a number of functional roles of management accounting, the authors analyze how they affect the effectiveness of management and life support in organizations. Management accounting acts as the main tool for identifying and analyzing financial risks, as well as for making informed decisions. The methods of applying management accounting in the context of risk management are discussed. The results of the study can help business leaders and management consultants to use management accounting more effectively in strategic planning and decision-making.