Management and financial reporting: key aspects.

Subject of study is the theoretical, methodological and practical aspects of the formation, presentation and use of management and financial reporting as an information base for making management decisions. The aim of the study. Disclosing the content and essence of management and financial reporting of business entities, determining their significance for analyzing the financial and economic activities of enterprises, developing proposals and recommendations for the application of reporting indicators to optimize the process of making management decisions based on them. Research methods. During the research, comparison, generalization, and system methods were used to reveal the essence of the enterprise's management and financial reporting and its relationship with other objects. Results of work. The article defines that reporting is the main means of communication that provides internal and external users with information about the activities of a business entity. It is revealed that the reporting of an enterprise is a systematized and structured document that reflects information about the property, rights and sources of formation of economic assets of the enterprise. A comparison of the main characteristics of financial and management reporting is carried out. It is proposed to conduct research on improving the methodological principles of financial reporting analysis. It is emphasized that the formation of reporting is a necessary part of the functioning of the enterprise, since it provides all the necessary information about the effectiveness of its activities. The principles of the formation of management reporting as a tool in the system of enterprise management functions are considered. Its functional role and place in the modern management system are argued depending on the specifics and nature of the enterprise's activities. Approaches to the definition of the term "management reporting" are analyzed, with the authors' views given. It is determined that management reporting is an effective tool for optimizing the activities of a business entity, finding reserves to reduce costs, save resources, increase the productivity of processes, etc., and in this sense is a component of the internal control system. It is established that the structure of management reporting of various enterprises is objectively determined by their organizational and structural features, the specifics of functioning and the nature of activity. A new view of management reporting as an information tool in the modern enterprise management system is substantiated. It is determined that the management reporting system should be considered as a means of establishing communicative relations at the enterprise. It is proposed to determine the role and place of management reporting in the activities of modern enterprises from a practical point of view, namely by creating a structured system of enterprise performance indicators. Modern trends in improving management reporting are summarized.