ACCOUNTING - A KEY ELEMENT IN COMPANY MANAGEMENT

Abstract

The modern conditions in which companies conduct their business activities are characterized by dynamics and uncertainty, which stem from the international business environment, formed in recent years, giving rise to transnational economy. However, the main striving of any business organization in its activities is to achieve the most efficient use of resources and meet goals. Realization of the objectives in such an environment can be achieved only by effective, management which is adequate to changes in environment. Implementation of the general management of the business unit is associated above all with the presence of the necessary information for this activity.  The need of information in quantity and quality has changed during the years of economic development of mankind. The more advanced economic development is, the larger  range of necessary information becomes for managers to make adequate to environment and efficient for the enterprise managerial solutions If in the 20s of last century for this purpose achievement accounting information was primarily necessary and enough, nowadays the need of information is undoubtedly beyond confines of accounting data: that is the managerial decision making relies not only on accounting data but also on market information, information about company as a whole (structure, specifics, changes), statistical information, forecast data regarding possible scenarios of business environment changes, etc. However, regardless of this expanding information needs for enterprise management, the provision of accounting information remains the basis for management decision-making. It shows the current situation, and outlines its place in the sector, and also in the general economic environment. However, it is the basis for making an analysis of various aspects of subsequent planning. This report aims to present accounting and in particular its information product as an intransitive key element in company management. In support of this, the report outlined the place and importance of accounting in the management of company, by analyzing its informative and controlling function.