IMPROVEMENT COST CALCULATION – A NECESSITY IN THE ELECTRICAL INDUSTRY

Constanta Iacob and Luminita Popescu (Costache)
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Luminita Popescu (Costache): University of Craiova Faculty of Economics and Business Administration

Annals of University of Craiova - Economic Sciences Series, 2012, vol. 2, issue 40, 104-110

Abstract: The constant increase of the economic efficiency, as well as the requirements of the managerial teams within the market economy determine the need to improve the methods of cost calculation in order to grow their role in current decision making. The purpose is to increase the operability of the data provided to the managers, to increase the informative content on the costs, in terms of efficiency indicators needed to determine the scientific management of the economic activity, to improve the distribution of the indirect costs by using appropriate benchmarks, etc.So, in order to remove the disadvantages of the traditional methods, modern methods of calculation were invented, methods adapted to the new market conditions which provide, in addition to financial information about the costs of goods or services, other non-financial information on internal processes and customer costs. These methods enable the integration of the cost analysis in the strategic approach of the company, thus contributing to the decision making regarding the portfolio of the products and the services provided by the company.

Keywords: cost; calculated methods; target costing; value chain; control; calculation methods (search for similar items in EconPapers)
JEL-codes: J24 M12 M48 M54 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:aio:aucsse:v:2:y:2012:i:40:p:104-110

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