Impact of the Covid-19 pandemic on the requirements for accounting and analytical support of business

¹ Moscow state University of Humanities and Economics, Losinoostrovskaya Str., 49, 107150 Moscow, Russia
² MIREA - Russian technological University, Vernadsky Avenue, 78, 119454 Moscow, Russia

^* Corresponding author: romanry@ya.ru

Abstract

This article proposes to get acquainted with a study that, as a first approximation, assesses the impact of the Covid-19 pandemic on a shift in emphasis in accounting and analytical work. Economic actors once again found themselves in the conditions of a “new normalcy”, now it is a global coronavirus crisis. Now society and business are faced with new risks, threats, disasters, opportunities, unforeseen consequences of the COVID-19 pandemic. Of course, the management of the companies is expected to provide the creative solutions, an economically sound strategy or a policy of working in a new environment. The new complex context of decision-making caused by the pandemic needs to keep information and analytical support up to date. Therefore, this article proposes to pay attention to some aspects of information and analytical work that are of particular importance during the period of the impact of the pandemic and its consequences. The list of such aspects includes the mechanisms for ensuring business transparency, the application of stakeholder theory and change management theory, the organization of a systematic business analysis, the concept of social responsibility and ESG criteria. This approach will make it possible to “reveal” the problems caused by the pandemic and its consequences, find the best solutions therefor, implement them correctly and update the business development strategy. The research results based on the analysis of current business needs will help build an adequate system of accounting and analytical support.