A round-table conference, the Role of Management Accounting in Operations of the Board of Directors, which was arranged for by the Expert and Advisory Board on Management Accounting at the Ministry for Economic Development and Trade of Russia, was held in the Ministry for Economic Development and Trade of Russia on July 28, 2005.

The round-table conference was attended by members of the Board, representatives of the Russian Ministry for Economic Development and Trade, of consulting companies, scientific entities as well as members of boards of directors and senior executives of Russia’s top companies.       

The round-table conference heard reports on corporate management and particularities of applying management accounting tools to operations of boards of directors, discussed unification of management decision making by boards of directors based on management accounting data, industrial management accounting methods (on the example of metallurgical enterprises),  and specific features of data support of operations of boards of directors.

Participants in the round-table conference reviewed the best practice in supporting the strategic management decision making process and provided specific examples of applying management accounting tools to operations of boards of directors of Russia’s top companies.

In the near future, the Expert and Advisory Board on Management Accounting at the Ministry for Economic Development and Trade of Russia is going to issue the Analytical Report on the round-table conference results.