Management according to international standards in farming

Abstract

Management accounting is important for managing and controlling the activities of an agricultural enterprise. The implementation of management accounting is usually poorly regulated by the state, in this regard, the company can develop a system and form of management accounting, as well as a scheme for monitoring and reporting financial and economic activities. In addition to the data contained in the financial statements, management accounting, in our opinion, should take into account the peculiarities of the production process of a particular enterprise, which are difficult or impossible to objectively reflect in the financial statements. The use of management accounting in an agricultural enterprise contributes to the coordination of its divisions, allows you to improve the accounting, planning and control of production processes occurring in the agro-industrial enterprise. The presence of a synergistic effect from the interaction of all components of management accounting makes it possible to improve the efficiency of management of an agricultural enterprise. The application of international management accounting standards in agricultural enterprises makes it possible to more quickly and effectively implement favorable market conditions and timely solve problems that arise before the enterprise.

Financial Literacy and Understanding for Individuals or Small Business Owners in the Framework of Financial Accounting

“…Please utilize these resources as references and incorporate them into your own academic work to facilitate students' comprehension of the sequential procedures in accounting. Additionally, they serve to provide clarification and structure to the process of acquiring knowledge (Yekimov et al, 2021).…”

“…Business owners need to plan for the short term and long term. They must create budgets, forecast revenues, and anticipate expenses (Yekimov et al, 2021). A strong understanding of financial concepts allows for more realistic and achievable financial goals, ensuring the company's fiscal stability (Safin et al, 2018).…”