Accounting and Analytical System as a Means of Improving Enterprise Cost Management

The cost management in a competitive environment is an urgent issue for manufacturers, when they strive to achieve a level of costs that consumers recognize and that will bring appropriate profits to the enterprise. In this regard, the improvement of the cost management system is a prerequisite for increasing the efficiency of the production structure. The authors focus their research findings on the functions of the enterprise cost accounting system which are aimed at understanding consumer needs: that allows to obtain indicators of the economic efficiency of specific processes and find out the cost of a specific operation. The authors argue that the modern understanding of the cost accounting system reduces its tasks to the preparation of financial statements, cost calculation, analytical understanding of inventory balances, comparison of income and expenses. To a lesser extent, it is aimed at the sustainable development of an economic entity which is possible subject to a tighter connection between the cost accounting system and the requirements of modern management for making management decisions. Based on the goals and objectives of the cost management system, the authors propose principles on which a rational organization of cost accounting should be based. Taking into account the requirements for the quality of information about enterprise costs formulated in the contribution, the authors conclude that there is a need for a systematic approach to data generation, accounting and analysis, and propose a model of an accounting and analytical system for the enterprise cost management which will ensure multidimensionality of the cost reflection.