E ISSN: 2583-049X

International Journal of Advanced Multidisciplinary Research and Studies

Volume 4, Issue 1, 2024

Classification of Costs Serves Cost Management in Animal Feed Processing Enterprises

Author(s): Tran Thi Du


Cost accounting plays an important role in the content of management accounting. Costs determine the price of manufactured products, directly affecting the profit of the business. Cost is the value of resources spent in an organization's production and business activities to achieve a certain purpose. The content of costs is very diverse and rich and can be classified according to many different criteria. With each cost classification, certain cost structures are formed to provide cost information from many angles for administrators to make business decisions and control costs effectively. The article presents ways to classify costs including classifying costs according to operational functions, classifying costs according to cost elements, classifying costs according to cost behavior or according to the relationship between costs. Costs with activity levels, classifying costs according to the relationship between costs and cost collection objects. At the same time, the article presents the current status of cost classification at animal feed processing enterprises and offers solutions to improve cost classification for cost management in enterprises.

Keywords: Cost Classification, Fixed Costs, Variable Costs, Mixed Costs

Pages: 304-308

Download Full Article: Click Here