The role of management accounting in the context of effective business management in modern conditions

For effective business management in modern realities, it is necessary to understand the role of management accounting: making informed economic decisions based on reliable information generated within the framework of accounting and analytical support. Management accounting takes precedence over the effective process of managing activities, acquiring not only the analysis of historical indicators, factor analysis and planning and forecasting of performance, but also the alignment of strategic goals and initiatives of the organization and its management tools. Now they are actively talking about the fourth industrial revolution, the main feature of which is digitalization. Digitalization manifests itself in the rejection of intermediaries, Big Data, and the adoption of independent digital systems. Digitalization manifests itself in the rejection of intermediaries, working with big Data, making independent decisions by digital systems, using Blockchain technology and high computing power of wearable devices. It is digitalization that will give rise to a new round of development of management accounting.