Organization of Analytical Work in Corporations

Abstract

Organization of the analytical work aims to achieve the organization goal (performance enhancement) in the shortest possible terms and given the best possible use of the available resources. The effectiveness of economic analysis at corporate level is largely dependent on its well-considered organization. The main task of the analytical work is search for reserves to increase the corporation performance. Organization of the analytical work in a corporation depends on its size, quality of its accounting and reporting, technical level and management structure, computerization of accounting and jobs. Analytical studies can be rationalized once the condition for their methodological, organizational, resource, personnel and information support is met. An essential condition for successful analytical work is sufficient and reliable information. Analytical processing of economic information in a corporation is very time- consuming process, mainly due to its large scopes. Another important factor is operation efficiency of the existing array of information. Methods of analytical work focused on use of advanced computer systems have to meet the requirements of consistency, comprehensiveness, timeliness, accuracy, progressiveness and dynamism. The main objective of analytical work in the computer environment is to ensure the timely adoption of sound management decisions on various aspects of the corporation performance in view of large numbers of internal and external factors of influence. Corporations have special units or structural units responsible for coordination and methodical supervision of analytical studies conducted by all the corporation divisions, for providing necessary assistance in summing up the data required for the comprehensive and integrated analysis of the company performance. An important task in the analytical work of a corporation is to build up and up-date the system for analytical work, and enhance the analytical department performance.