Accounting and reporting in small businesses: managerial aspect

The article states that development of small businesses envisages formation and use of a wide spectrum of economic information for providing managerial structure with timely and quality information, which requires creation of a system of managerial accounting and reporting, which should not contradict to the principle of expenses - benefits relation, when expenses on introduction of such a system would exceed the effect obtained from its functioning. It adds that the main requirements of building the system of managerial accounting in a small business should be simplicity, accessibility and clearness. The author studies interconnection of the system of managerial accounting in small businesses with the system of book-keeping and reporting on the basis of a simplified mechanism of accounting of economic operations. The article proceeds that formation of a limited volume of information in the system of accounting and analytical provision does not give a possibility to carry out timely and quality control and analysis of financial and economic state of activity and negatively influences planning and forecasting activity of a company in general. The article marks main components for formation of a subsystem of managerial accounting and reporting, develops methods of formation of reporting in the system of managerial accounting in a small business and also analyses units of managerial information in accordance with requirements of users and develops an organisational scheme of formation of economic information about production, realisation and financial flows in the system of accounting and analytical provision of activity of a small business (using example of an industrial enterprise).