Sobirov Otabek Olimjonovich,
PhD, Senior Lecturer, Department of Accounting and Auditing,
Namangan Institute of Engineering and Technology,
Abstract. In this article, we have mentioned a number of economic failures and the slowdown of economic growth that have occurred in our country in recent years, their causes, including the fact that opinions aimed at revealing the content and essence of management accounting are not sufficiently formed, and there are no specific measures aimed at preventing existing problems. As a result of these economic failures and low growth efficiency, the level of confidence of foreign investors in management and financial reporting is decreasing. As a result of these negative conditions, the implementation of the company’s future strategic development plans is at great risk.
If we look at the economy of developed countries, it can be observed that the economic stability of enterprises is ensured by making quick strategic and tactical decisions in order to be competitive. Therefore, the organization of management accounting is important for enterprises to achieve high efficiency in the future. Our research is relevant today as it is aimed at increasing the investment attractiveness of our republic in the world market, attracting foreign investors to our country, increasing the flow of foreign currency and increasing the number of additional jobs. At this point, it should be noted that it is very difficult for enterprises engaged in any production activity to achieve efficiency in development if they do not systematically consider the possibilities of reducing the cost of their products along with the proper organization of their management account. Based on the above, the essence and importance of the management account, tasks, the organization of the strategic management account and systematic proposals aimed at the solution of the existing problems were developed in order to ensure the achievement of the set goals.
In addition, the economic relations arising in the effective organization of management accounting were touched upon, and references were made from the results of the research works of foreign and our country’s scientists. The cited links mainly focus on the importance of the role of costs in management accounting. We have also expressed our opinions on the correct use of some synonyms (cost, output, and expenditure) used in the calculation of expenses according to their meaning.
Keywords. Management accounting, cost classification, calculation, output, cost, management decisions, investment, product, international standards, strategic decisions.