Conceptual approaches to transforming budgeting procedures on the basis of opportunities provided by big data technologies

In today’s economic circumstances the needs of accounts and finance experts in data keep on transforming and expanding. Turbulence of external environment stipulates the growth in volatility and uncertainty in operative environment removing the vector of objectives for accounting and budgeting. Therefore, developing effective procedures of accounting and budgeting in present day business entities acquires bigger importance, as indicators and data of accounting influence the quality of making managerial decisions and consequently, the position of the enterprise in external market environment. The goal of the research is to ground the necessity of transforming accounting procedures and budgeting on the basis of opportunities provided by bid data technologies. The subject of the research is specific features of using big data in managerial accounting and budgeting. The article studies trends of growing information masses that are used in managerial accounting and budgeting, systematizes functional tasks accomplished by big data in different industries of Russian economy, investigates processes of accounting procedures’ transformation, analyzes opportunities and practice of using big data in making managerial decisions at Russian enterprises, grounds the necessity to introduce advanced technologies of data analysis in the system of accounting and budgeting. As a result of the research principles of using big data were formulated and the model of valuechain by big data was built for managerial accounting and budgeting and opportunities and threats of using big data in managerial accounting and budgeting were identified.