It can be assumed

Due to the introduction of the above systems costing formed a separate subsystem of accounting, which is used not only monetary meters and was directed not to measure the total production costs for making public (external) financial statements and internal reports on the preparation, taking into account information needs of managers at various levels, focused on the adoption of the current management decisions. Received under this subsystem is called the internal information (financial statements), and it is the end product of management accounting. We can assume that management accounting as an independent subsystem of accounting emerged in the mid 50-ies of XX century, an important stage in the development of management accounting falls in the middle 70s of XX century for this phase is characterized by economic globalization and the role of strategic management, which resulted in the transformation of management consideration in the strategic management accounting. Indeed, at this stage, it becomes extremely relevant in the banking sector. Modern management accounting in a commercial bank is a management tool, which creates an appropriate knowledge base to meet the needs of the operating management, investment, financial activities of the bank, as well as for analysis, marketing and decision-making based on current and long term goals. Topic: The role of accounting in the management of the bank, its types and purpose | Tags: Chart of Accounts