Managerial accounting is a flexible system based on analyzing the bank's 

opportunities and threats and making managerial decisions based on such analysis.The 
system of managerial accounting includes the following elements: 

•

 

 financial planning;

 

•

 

 budgeting;

 

•

 

 responsibility centers;

 

•

 

 financial and organizational structure;

 

•

 

 transfer pricing. 

 

With these elements an organization of managerial accounting in the bank and the 

formation of management reports take place. This process is usually long and involves 
the steps shown in Figure 3. 
 

 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
 

 
 
 
 
 
 
 

Figure 3. Stages of the organization of managerial accounting in the bank 

Source: [17] 

 

Formation of the management accounting general concept, which defines the main goal, 

objectives, principles, management objects

 

Scientifically based definition of responsibility centers

 

Financial structure set up

 

Creating the classifier of products depending on the type of business activity and currency

 

Conducting the classification of expenses and revenues in accordance with the causal 

relationships

 

Effective allocation of costs between structural units

 

Development of methodological principles of the accounting unit – selection of accounting 

model, system of internal accounts, primary documentation

 

Development of forms of internal management reports

 

Organization of the process of budgeting, internal analysis and control mechanism

 

Development of regulatory support for managerial accounting

 

Identification of employees who will directly manage the managerial accounting

 

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