Cost behavior in enterprises of the brewing industry
DOI:
https://doi.org/10.35774/visnyk2018.04.111Keywords:
managerial accounting, costs, profit, item of cost, informationAbstract
The article points out that enterprises operating in a competitive environment are facing challenges of formulating and making sound managerial decisions, which will enable entities to increase production and business efficiency. As shown in the paper, there is a need of operational cost analysis in enterprises, which will not only help them optimize processes, but also enable companies to plan and forecast further growth in the brewing industry by taking into account trends of previous years.
After reviewing the research studies relevant to cost management in manufacturing enterprises, it is confirmed that cost management in enterprises of the brewing industry needs to be improved. This might be explained by the fact that enterprises of the brewing industry use various manufacturing technologies, which poses difficulties for comparing the stages of development of each enterprise in the industry. Special aspects of cost behavior in enterprises of the brewing industry are highlighted.
The purpose of the article is to reveal common factors of cost behavior and describe classifications of costs in enterprises of the brewing industry. A special reference is made to a theoretical framework and practical recommendations on improving cost behavior in enterprises of the brewing industry.
For the purpose of the article, the following research methods are applied: induction, deduction and comparison. These methods make it possible to classify costs according to certain criteria, and thus increase production and business efficiency of brewing enterprises. The analysis suggests that cost management should be based on features (criteria) which take into account cost value, making managerial decisions and regulation / control over production and business operation of enterprises.
The suggested criteria are supposed to serve as a basis for developing operational plans of brewing enterprises. A series of theoretical considerations on cost behavior formulated in the article are of applicable nature and may be applied into practice.
Finally, the paper provides recommendations on cost management in enterprises of the brewing industry.
References
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