Salome Akhvlediani

PhD Student in Business Administration; Tbilisi State University Invited Lecturer at Business and Technology University


Copyright © 2023 the Author/s

Peer review method: Double-Blind

Accepted: September 99, 2023

Published: September 29, 2023

Original scientific article

DOI suffix: 10.36962/NEC18032023-57

The article discusses modern approaches and challenges of managerial accounting. In the conditions of the market economy, modern global approaches to managerial accounting of operational processes play a special role in the process of perfect functioning of the company. Today, when overcoming the financial crisis is an urgent problem, it is necessary to form a management accounting system adapted to the strategy.

The relevance of the study of managerial accounting issues is also indicated by the fact that in the conditions of growing competition, it is necessary to develop certain standards and management methods.

In the process of strategic decisions, such as the expansion of the company, the development of policies to improve the financial situation and sustainability, it is impossible to achieve without having a perfect management accounting system.

Using management accounting techniques, it is possible to reduce costs, increase revenues, improve operational management and control of the organization. It provides an objective view of organizational performance and helps companies make effective decisions based on accurate information.

Keywords: managerial accounting, effective management, modern approaches to managerial accounting.



  1. Akhvlediani S., Financial ratios and key performance indicators for hotel operations. Jur. "The New Economist", vol., (1, 2021), p. 88-94
  2. Bauchadze B., Evolution of management accounting, Jur. "Economic profile", 1(23), 2022, p. 74-83
  3. Management Accounting (2019) ACCA Handbook, Book F2. international practice. Translation into English, Tbilisi
  4. Chiladze, I., Management accounting, fifth revised edition, "Meridian" publishing house, 2018, 413 p.
  5. Charles T. Horngren, Srikant M. Datar, Madhav V. Rajan, Cost Accounting, Global Edition, England, 2012
  6. Paper F9 Financial Management, ACCA, 2019
  7. Sturman, M., Corgel, J., The Cornell School of Hotel Administration on Hospitality, “John Wiley & Sons, Inc”, New Jersey, 2011.
  8. American Hotel & Lodging Educational Institute

https://www.ahlei.org/resources/uniform-system-of-accounts-for-the-lodging-industry/ (last accessed 30.09.2023).

  1. Chron – Small Business Accounting

https://smallbusiness.chron.com/modern-management-accounting-techniques-67384.html (last accessed 09/28/2023).

  1. Corporate Finance Institute (CFI)

https://corporatefinanceinstitute.com/resources/accounting/managerial-accounting/ (last accessed 28.09.2023).

  1. Innovation BRO – Accounting and Finance Service

https://innovationinc.com/the-3-accounting-systems-cost-managerial-and-financial-accounting/ (last accessed 28.09.2023).

  1. Health Finance & Governance

https://www.hfgproject.org/management-accounting-systems-hospitals-mash-manual/ (last accessed 30.09.2023).

  1. Microsoft official page

https://powerbi.microsoft.com/en-us/ (last accessed 30.09.2023).

  1. The Essay Writing Experts - Future Developments in Management Accounting

https://www.ukessays.com/essays/accounting/future-developments-in-management-accounting.php (last accessed 28.09.2023).


The New Economist N 3 (2023), Vol 18, Issue 3

axali ekonomisti 3-2023 -ყდა.jpg
Published Date: