Accounting and analytical aspects of the cost management process
Journal: European Scientific e-Journal (Vol.31, No. 4)Publication Date: 2024-06-30
Authors : Svitlana M. Nikolaienko;
Page : 22-29
Keywords : material costs; food processing; dairy industry; cost management;
Abstract
Any manufacturing enterprise functioning is always associated with producing goods and their sale, i.e., promotion from the manufacturer to the consumer. Implementing these tasks would be impossible without costs since they ensure the economic activity of the business entity. The study of costs is extremely relevant since they determine the general goal of the enterprise's activity – profit. The study object is the process of cost management, which is closely interrelated with the profit generation process. The study subject is a set of theoretical, methodological and applied approaches, studying the formation and implementation of the cost management process, considering the sectoral characteristics of food industry enterprises. The purpose is to research the economic essence of costs for their formation and effective management. To achieve this purpose and solve the tasks set, the author used general scientific and specific research methods, the grouping method and the inductive method to collect and summarize information, methods of analysis, synthesis and comparison for processing an array of information and comparing performance indicators of food industry enterprises, graphic and tabular methods for visual display of the results obtained and displaying trends, statistical methods for calculating economic indicators and the rate of their change, and abstract-logical method for forming conclusions based on the results obtained. The author concludes that in conditions of uncertainty in the external and internal environment, cost management and control come first in the effective enterprise management mechanism, from planning to cost control. Timely, complete and reliable information about all enterprise expenses, including administrative and sales expenses, and especially the cost of production, can improve the enterprise's financial condition.
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Last modified: 2024-12-09 06:48:54