Importance The today's market realities have a huge impact on the economic activities of agricultural producers through market pricing, manufacturing cost refunding, ensuring profit-making, promoting cost saving, and product quality improving. Currently, one of the key indicators to ensure the competitiveness of any company is an accurate and timely accounting for costs and production output. Therefore, the problem of creating management cost accounting, which enables to provide more accurate information on production cost of specific products, is relevant among the specialists and scientists focused on building a competitive organization. Objectives We aimed at assessing the development level of management accounting in Russia. In this regard, the task was to develop recommendations on improving the methods of agricultural product cost accounting and calculation. Methods In our paper, we consider an algorithm of cost accounting and forming the cost of production by using a functional method, and we propose a technique to reflect business transactions under the ABC-model of product cost calculation. Results Studying the prospects of the ABC method implementation into accounting practices of agricultural enterprises enabled to develop a procedure for cost reflection in managerial accounting. Conclusions We came to a conclusion that the use of the ABC method will help to furnish more accurate information about the cost. This will provide managers with the possibility to make more reasonable decisions and to achieve a competitive advantage in the agricultural product market.
Keywords: managerial, management accounting, actual cost, target prime cost, expenditures, functional method, costs calculation, ABC-costing, direct costs, overhead costs, difference
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