REGULATORY FIELD OF FORMATION OF INTERNAL ECONOMIC REPORTING IN UKRAINE

Abstract

The relevance of the study is due to the need for unified standards for internal business reporting, since the lack of systematic approaches slows down the development of automation of accounting processes, reduces the accuracy of management information, creates difficulties for its systematization and effective use at the enterprise level. In this regard, there is a need to unify and standardize management reporting through the development of a special document that will facilitate the effective use of reports at different levels of management and ensure data consistency between the enterprise's responsibility centers. The main purpose of this article is to determine the essence and justify the need for regulatory and legal regulation of internal business reporting as a management tool at enterprises, develop recommendations for its standardization and regulation. The article examines the features of regulatory and legal regulation of internal business reporting of enterprises, which is carried out both at the national level and at the level of individual business entities. Although internal business reporting is not formally regulated by state regulations, it must take into account the requirements of the current legislation of Ukraine. The impact of the current legislative framework of Ukraine on the formation of internal business reporting is analyzed. The shortcomings of the application of financial reporting principles for management accounting are identified, since they are focused on fulfilling legislative requirements, and not on management requests. The importance of accounting policy for the formation of internal reporting, which provides an information basis for making management decisions, is substantiated. Three approaches to developing accounting policy are proposed, which will contribute to improving accounting processes, reducing the risks of errors and increasing management efficiency. Proposals are made to improve management accounting at the enterprise level. The practical value of the article lies in substantiating both the regulatory and organizational support of internal business reporting. In turn, the standardization of internal business reporting will contribute to increasing management efficiency and providing information support for business.