Formation of the enterprise's production cost management system

Abstract

Cost management is a key component of a company's management system. In today's high-risk environment, many domestic companies face issues related to inaccurate cost accounting and inefficient use of financial resources. The purpose of this study is to explore relevant tools for accounting and analytical cost management at the enterprise. To achieve this goal, an overview of the main measures for effective cost management is proposed, along with a step-by-step identification of the company's needs and the selection of the most efficient tools for cost optimization and control. The article examines a key aspect of enterprise management – the development of an accounting and analytical system for effective cost management. The study explores tools that facilitate the implementation of such a cost management system, identifies various methods for optimizing production costs, and substantiates the importance of accounting and analysis systems for effective cost management. It is proven that one of the main tasks of a cost management strategy in production is optimizing its structure, which can lead to significant cost savings, increased profitability, and improved production efficiency while maintaining product quality. To achieve this goal, the article recommends applying the proposed methods for optimizing production costs.

A set of recommendations is proposed for the development and implementation of an effective accounting and analytical system for managing operational costs. These recommendations will help properly prepare and establish such a system, ultimately reducing overall enterprise costs, increasing production efficiency, and identifying non-productive expenses, thereby enhancing the value of production costs. The study proves that developing a cost accounting and analysis system is a crucial task for every enterprise in Ukraine, especially under conditions of market uncertainty and instability. Such a system ensures production stability and overall business resilience while enabling the formation of a more flexible and crisis-adaptive cost management strategy. It contributes to enhancing the company’s competitiveness and securing its stability in the market. This article serves as a valuable resource for business executives, accounting specialists, and cost management professionals seeking to improve production efficiency and implement modern accounting and analytical systems for strategic production cost management.