MODERN ASPECTS OF COST MANAGEMENT OF UKRAINIAN ENTERPRISES

Abstract

Now, in difficult economic conditions in Ukraine, the issue of effective cost management is becoming relevant for enterprises, taking into account the opportunities to stimulate resource savings, forecasting and controlling costs according to the “Expenses-output-profit” system.

Now in our country there is a question of ensuring the stable development of enterprises. First of all, this is due to the military aggression against Ukraine. Business has to resist internal and external negative processes taking place both in the state and outside it.

Entrepreneurs are increasingly in need of support and assistance from economically stable partners. The ability of an enterprise to effectively conduct economic activities is marked by the level of its costs and prime cost, which characterize its ability to provide such a level of financial stability sufficient to avoid the risks of bankruptcy and unprofitability of economic activity.

The above gives an opportunity for stable and dynamic development of Ukrainian enterprises. It is the choice of optimal aspects and methods of cost management that creates the basis for economic stability and competitiveness of enterprises in the world market. Market conditions are increasingly increasing the requirements for the efficient conduct of business activities and maximization of income. This can be achieved in two ways. The first is by increasing income (increase in product prices). The second is the cost optimization method.

It should be noted that in the context of automating the activities of enterprises in the world, the cost optimization procedure based on business process modeling is of particular importance. The issue of cost management in this context still needs a detailed study. Reliable cost estimates are essential for making the right decisions and taking the best action. Therefore, this task requires highly qualified employees of the company to master the techniques and methods of applying certain elements of the cost management structure to solve certain situations. Modern Ukrainian enterprises still need such employees.

In difficult economic conditions for our state, the introduction of more adapted to domestic conditions and the specifics of doing business is important methodologically, due to the need for uninterrupted monitoring of costs and support for the competitiveness of the enterprise.