Management accounting and its role in the enterprise governance

Currently, growing competition in the production and providing services in the markets of the global and domestic industries, the rapid development of technologies and integrated systems, business diversification and complexity of the business processes in the management of commercial organizations make it necessary to modify and harmonize accounting, control and analysis systems at all levels and industries. Management accounting problems in our time are increasingly relevant, since in the conditions of formation and development of market economy management and management accounting in organizations play the special role. As a rule, there are two types of accounting in a large organization: financial and management. Consequently, there is a difficulty in the fact that many leaders confuse these types accounting or equate them, and it is also inappropriate. Functionally elaborated management accounting focused on the competitive environment makes it possible to identify the information and technological processes aimed at informed and optimal management solutions for elimination of shortcomings inherent to financial accounting in timely manner. The effectiveness of management control leads to guarantee reliable infor- mation of accounting (financial) reporting, reliability, stability and safety of the organization's assets, allows to explore the connection between man- agement and tax accounting, thereby contributing to the successful and profitable business. In this context, it becomes extremely urgent to develop theoretical and practical recommendations aimed at strengthening the role and importance of management accounting and improving the methods of its organization.