ON THE ISSUE OF CLASSIFICATION OF PRODUCTION COSTS

Abstract

The study is devoted to problematic issues of cost accounting and cost classification. The relevance of this topic remains extremely high, since cost management became one of the key elements of business management. Continuously changing business conditions, which require constant improvement of accounting and analytical methods, have a special impact on the importance of developing practical accounting principles. One of the ways to organize cost accounting is to use integrated accounting systems that combine elements of managerial and financial accounting. This approach, unlike traditional methods, significantly improves the quality of information for management purposes. At the same time, the use of more complex methods may lead to an unreasonable labor costs increase caused by additional complex calculation procedures. The article discusses the basic requirements for cost classification established by Russian legislation. Additionally, classification options are provided that improve the quality of accounting information for cost management. As a result, a proprietary method for production costs classification is proposed.