PECULIARITIES OF ORGANIZATION OF AN INTEGRAL COST MANAGEMENT IN UKRAINIAN INDUSTRIAL ENTE

Abstract

The effective cost management and systematic cost reduction are key factors in ensuring the competitiveness and long-term success of an enterprise. The increased pressure of competition and necessity to reduce costs require the creation of an effective cost management system .thus causing the great interest to the subject from both local and foreign researches..
The aim of the study is the analysis of the problems in creating an integrated system of cost management in industrial enterprises in Ukraine which would allow to quickly and efficiently receive and process the necessary information concerning costs.
The article examines practical aspects of organizing the cost management in Ukrainian manufacturing companies. Both major drawbacks and area of potential improvement of accounting and cost management are identified. A model of integrated cost management based on state-of-the art IT systems is proposed.
In contrast to then existing ones, the proposed scheme provides through integration of internal and book keeping data concerning kinds, targets and objects of expenditures an integrated approach to cost management. The proposed scheme applies planning, monitoring and cost analysis tools based on modern computerized resource management systems and ensures the faster and more effective decision-making.