Agricultural and Resource Economics (Sep 2020)
Engineering of business processes in accounting support of cash management
Abstract
Purpose. The purpose of the study is to develop the accounting aspect of business process engineering as the main tool in management. Methodology / approach. The research uses methods of scientific abstraction, grouping and systematization to identify the current state and outline the directions of development of accounting engineering. Methods of analysis and synthesis, as well as the coefficient method for the development of the analytical component of cash management are used. Results. Engineering is an effective tool for optimizing business processes of enterprises. It should be considered as a way of implementation into a certain sphere of human activity non-specific (foreign) tools, techniques, methods, etc., aimed at solving problems that cannot be solved by the existing tools specific to this area of activity. Accounting engineering is the process of developing, designing and implementing innovative tools, methods and techniques borrowed from other sciences that are used to improve accounting as a system that provides information to the management system. It is a platform for generating the accounting information needed to make strategic management decisions. The effect of accounting engineering is analyzed on the example of cash management, as current trends are focusing more and more on cash flow as the main object of financial management of the enterprise. A cash management mechanism based on accounting engineering is proposed, which includes the following stages: cash flow planning and forecasting, adherence to the schedule of receipts and payments within budget limits, evaluation of cash management efficiency. Originality / scientific novelty. It is proved that the need for engineering for accounting science and practice is necessitated by the need to form special ways to solve problems that have remained unresolved for accounting for a long time and could not be solved due to limited methodological approaches, methods and techniques. The influence of accounting engineering on the efficiency of the management system on the example of cash management is outlined. Practical value / implications. The application of business process engineering in cash flow management of the enterprise by assessing the value of the integrated indicator of cash flow management has identified a number of cash flow management problems, their causes, consequences (risks) for the company and provide suggestions to minimize identified risks.
