Article Summary. The main goal of this article is to stress managerial accounting strategic tools,
such as variance analysis, profit planning, performance measurement system, financial statements
recast, balanced scorecard implementation, importance in order to achieve and sustain successful
entrepreneurial business growth, expansion and financial performance. Researches show, that reasons
for failure to succeed and maintain the business in most cases are lack of planning, no knowledge of
financing, no experience with record keeping and lack of managerial experience. CEO’s/managers are not
be able to precisely identify how specific products, services and operating processes are performing can
let potential business opportunities go. According to the authors, correct adaption of these managerial
accounting tools is crucial because quarter of entrepreneurial businesses fail in the first year, and more
than a half a&er five years, so success rate is relatively low. Further, article introduces case study as an
example to support and validate authors statements how management accounting can provide solutions
to challenges in a growing entrepreneurial business operations and future performance success.
Case study of Globe – an entrepreneurial business which develops from its starting point and
reaches entrepreneurial crisis. Authors describe “entrepreneurial crisis” as the growing company reaches
a point when there is an obvious need for the entrepreneur to collect more data, select and present
relevant information for making operational, financial decisions, determine profit plans, and evaluate
business performance, which could lead to increased productivity and quality. In order to do so
entrepreneur has to become a manager and to be able to master and use managerial accounting tools in
a high level, to recast company’s financial statements and data so it can provide information for the
future profits and revenues, targeted and actual costs, strategic goals. Globe is a rapidly growing
company which started to sell used equipment and grew into a business with its own market focusing on
purchasing and selling used dental equipment, providing installation and repairs services for online
customers. The case of the Globe demonstrates necessity of forward looking, strategic management
