caerCentral Asian Economic ReviewCentral Asian Economic Review2789-43982789-4401Университет Нархоз10.52821/2789-4401-2026-1-108-119caer-1742Research ArticleИНВЕСТИЦИИ, ФИНАНСЫ И УЧЕТINVESTMENT, FINANCE AND ACCOUNTINGУправленческий учет как информационная основа инвестиционного анализаManagerial Accounting as an Information Basis for Investment Analysishttps://orcid.org/0000-0003-4413-7204АдамбековН. Т.AdambekovN. T.

Алматы.

Adambekov Nurbek – PhD Student, Faculty of businnes, media and management, Department of Economics and Business, International IT University,

Almaty.

Nuradamsdu@gmail.comhttps://orcid.org/0000-0002-4717-2788МиржакыповаС. Т.MirzhakypovaS. T.

Алматы.

Mirzhakypova Sedep – Professor (Full) of Finance&Accounting, Department of Economics and Business,

Almaty.

msedep18@gmail.comhttps://orcid.org/0009-0003-7801-8905СатбековаЭ. Е.SatbekovaE. E.

Алматы.

Satbekova Elmira – PhD, Chief Accountant, 

Almaty.

Elmirasat70@gmail.comУниверситет НАРХОЗКазахстанNarxoz UniversityKazakhstanМеждународный Инженерно-Технологический УниверситетКазахстанInterational Engeeniring Technological UniversityKazakhstanКазахстанско-Британский Технический УниверситетКазахстанKazakh-British Technical UniversityKazakhstan20261505202611108119Copyright © Адамбеков Н.Т., Миржакыпова С.Т., Сатбекова Э.Е., 20262026Адамбеков Н.Т., Миржакыпова С.Т., Сатбекова Э.Е.Adambekov N.T., Mirzhakypova S.T., Satbekova E.E.Данная работа распространяется под лицензией Creative Commons Attribution 4.0.This work is licensed under a Creative Commons Attribution 4.0 License.https://caer.narxoz.kz/jour/article/view/1742

Цель исследования – изучить и раскрыть роль управленческого учета как информационной основы инвестиционного анализа в условиях ESG.

Методология –основана на применении аналитического и дедуктивного методов, позволяющих интегрировать результаты обзора актуальных научных работ и решить поставленные в исследовании задачи; обзор исследования и профессиональных бизнес-обзоров стал основой для аргументации выявленных факторов, повлиявших на трансформацию системы управленческого учёта в направлении интеграции ESG; метод визуального отображения данных через создание таблиц и схем.

Оригинальность исследования заключается в том, что, как правило, инвестиционный анализ расценивается как инструмент финансового анализа исключительно на методах фундаментального и технического анализа для целей портфельного инвестирования. В то время как предложенный подход учитывает влияние текущих трендов в бизнесе, а именно внедрение ESG принципов в управление. Управленческий учет трансформируется из инструмента внутреннего контроля в базис для анализа инвестиций, объединяющий финансовую и нефинансовую информацию.

В ходе исследования дано обоснования основным факторам, определившим переход к ESG интегрированному управленческому учету. В их числе обозначены геополитические и макро-риски, AI, ML, BigData, цифровые финансы и онлайн платформы и др. Представлена и аргументирована роль связи между управленческим учетом, управленческим и инвестиционным анализом в принятии инвестиционных решений. Обозначено, что управленческий анализ дополняется оценками ESG и показателями, адаптированными к риску. В инвестиционном анализе активно используются инструменты искусственного интеллекта и финтеха для прогнозирования и стресс-тестирования устойчивости. В этом контексте инвестиционный анализ интегрированный в управление бизнесом выступает не как внешний аналитический инструмент, а как неотъемлемая часть управленческого учета.

The purpose of this study is to examine and elucidate the role of managerial accounting as an informational foundation for investment analysis in an ESG environment.

The methodology is based on analytical and deductive methods, integrating relevant scientific papers’ review results and addressing the research objectives. A review of research and professional business reviews served as the basis for substantiating the identified factors that influenced the transformation of managerial accounting systems toward ESG integration. The method of data visualization through tables and charts was used.

The study's uniqueness lies in the fact that investment analysis is typically viewed as a financial analysis tool exclusively based on fundamental and technical analysis methods for portfolio investment purposes. The proposed approach, however, takes into account the impact of current business trends, namely the implementation of ESG principles in management. Managerial accounting is being transformed from an internal control tool into a basis for investment analysis, integrating financial and non-financial information.

The study provides evidence for the main factors driving the transition to ESG-integrated managerial accounting. These include geopolitical and macro risks, AI, ML, Big Data, digital finance, online platforms, and others. The role of the relationship between managerial accounting, managerial analysis, and investment analysis in investment decision-making is presented and substantiated. It is noted that managerial analysis is complemented by ESG assessments and risk-adapted metrics. Investment analysis actively utilizes artificial intelligence and fintech tools for forecasting and stress testing of sustainability. In this context, investment analysis integrated into business management acts not as an external analytical tool, but as an integral part of managerial accounting.

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The authors declare that there are no conflicts of interest present.