Management Accounting
Data for decisions, not for statutory reporting
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Financial accounting answers the questions of external users and is governed by standards. Management accounting answers the owner's questions — which business line is profitable, where the cash gap is, what a product really costs — and is not constrained by any standards.
Link to statutory accounting
Management accounting is not regulated by law, but the head of the company must ensure an accounting policy, a system of internal accounting and reporting, and internal control (Article 11 of the Law "On Accounting"). It is convenient to build management reports on the same primary data as the statutory books, so as not to keep two sets of records.
Core reports
- Cash flow statement — where the money is now and when there will be a gap
- Profit and loss by business line
- Balance sheet in management format
- Cost calculation by product or project
- Receivables report with ageing
The key question is analytics
The value of management accounting is determined by the dimensions in which data can be viewed: by business line, client, project, outlet. They make it possible to see that total profit is made up of profitable and loss-making lines — rather than looking at a company-wide average.
How to avoid doing the work twice
It makes sense to build management accounting on financial accounting data, adding the necessary analytics when transactions are first recorded. Keeping two parallel sets of books by hand leads to discrepancies nobody can explain.
Set up management accounting
We will define the dimensions you need and set up reporting based on your accounting data.
Go to the Accounting Services pageFrequently asked questions
Is management accounting mandatory?
It is not required by law — it is an internal tool. But without it, decisions are made on financial accounting data that is prepared for other purposes and on other timelines.
Does the law impose any related obligations?
There is no separate obligation, but the head of the company must ensure a system of internal accounting and reporting and internal control (Article 11 of the Law "On Accounting").
See also
- Manufacturing Accounting in Uzbekistan: Product Costing and Work in Progress
- LLC reporting: tax and financial returns
- Private Clinic Accounting: Medical Services, VAT and the Licence
- Labor Disputes in Uzbekistan: Commission, Inspectorate and Court
- Names for an individual entrepreneur: how to choose one and use it lawfully
- Change of Director of an LLC in Uzbekistan
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