COST MANAGEMENT IN AN INDUSTRIAL ENTERPRISE IN MODERN CONDITIONS: THEORETICAL AND PRACTICAL ASPECTS

Abstract

The article is devoted to the analysis of existing cost accounting systems. Both traditional and fairly new methods of cost management are considered. Their advantages and disadvantages are revealed. At the moment, in the context of economic sanctions for Russian business it is necessary to look for new ways and opportunities to reduce the costs of an enterprise, to improve existing methods of cost accounting, to analyze and regulate the processes of cost formation. In connection with anti-Russian sanctions, in recent years in Russia there has been a tendency to increase production costs due to rising costs of raw materials, fuel, energy, as foreign suppliers and manufacturers left the Russian market. Also there is a growth of interest rates for the use of credit. Management of expenses and prime costs at industrial enterprises will always occupy a separate place, as it is a basis of effective functioning of an organization irrespective of the type and direction of business. In this connection we have carried out an analysis of methods of cost management, taking into account the specificity of an industrial enterprise in modern conditions. The authors have made conclusions that the developed standards of cost management at an enterprise become more and more process-oriented. Competent management of expenses will allow the enterprise and the company to improve the final results of activity, thus there will be no dependence on external factors.