Global practices and prospects of strategic accounting methods for the Russian banks

Fluctuating economic environment and the development of digital technologies highlight the need to update strategic accounting and analysis methods aimed at assessing the reliability of banks and ensuring their sustainable development. The article systematized modern tools for strategic accounting of banking activities, the tools being globally applied by regulatory authorities and potential investors to assess the efficiency of banking activities, to identify the areas for development and to adjust the strategy chosen by the banks, to obtain comprehensive information on the creditworthiness of credit users. The purpose of the article is to substantiate the prospects for the strategic accounting methods in the activities of the Russian banks and to develop the indicators that increase the assessment reliability in management decision making. The study shows that the challenges faced by the Russian banking practices in adapting the advanced international approaches are related to the significant differences in the business models of credit institutions, the lack of ratings for corporate governance and bank reputation, the underdeveloped assessment approaches to the creditworthiness of credit users with regard to their industry, and the lack of reporting information under IFRS. Practices of strategic accounting for banks activities are upgraded by digital technologies as simulation tools for a large number of processes and as tools aimed to reduce the number of routine operations, to improve the accuracy of calculations, to process and store large databases for effective interaction and information exchange. A comprehensive rating assessment should include both financial indicators and information characterizing the efficiency of the bank performance, its reputation, its external environment and the impact of the economic, political context, environmental and social aspects of banking activities. The novelty of the research is to substantiate the prospects for the development of strategic accounting in the banking sector and to expand the system of indicators to assess the financial condition and reliability of banks, ensuring that findings and predictive assessments are more objective for informed management and investment decision making. The results of the research can be useful for investors, banking supervision authorities, banking specialists, risk management experts, and scientists interested in developing strategic accounting tools in banks. Further research is linked to the need to solve the problem of ensuring reliability and homogeneity of information used in compiling tank ratings, as well as to develop specialized software and applications for the outside users to perform a comparative analysis of banks reliability and for the bank management to monitor activities and to adjust the development strategy.