+7 925 966 4690, 9am6pm (GMT+3), Monday – Friday
ИД «Финансы и кредит»






International Accounting

A model of accounting and analytical support of cost optimization in the context of new institutionalism

Vol. 25, Iss. 12, DECEMBER 2022

Received: 12 September 2022

Received in revised form: 25 October 2022

Accepted: 15 November 2022

Available online: 15 December 2022

Subject Heading: Managerial accounting

JEL Classification: D2, M41, M49

Pages: 1360–1381


Ekaterina Yu. VORONOVA Moscow State Institute of International Relations (University) of Ministry of Foreign Affairs of Russian Federation (MGIMO University), Moscow, Russian Federation


Аnna А. VEKSHINA Moscow State Institute of International Relations (University) of Ministry of Foreign Affairs of Russian Federation (MGIMO University), Moscow, Russian Federation


Subject. This article deals with the theoretical and methodological features of the formation of accounting and analytical support for transformation and transaction cost optimization.
Objectives. The article aims to indicate the need to classify costs according to their belonging to transactions and disclose the theoretical and methodological features in the context of accounting and analytical cost optimization support.
Methods. For the study, we used general scientific methods (analysis, comparison and interpretation) and statistical methods in economics. The results of the study are shown in tabular and graphical forms.
Results. The article defines the notion of Transaction Cost and the need to decompose cost into transformation and transaction parts to take measures to optimize the level of costs. It systematizes the theoretical and methodological features of accounting and analytical models for transformation and transaction cost optimization. The article also proposes to integrate digital technologies into the management cost accounting system.
Conclusions and Relevance. The article justifies the necessity to break costs into transformation and transaction parts for these types of cost have different approaches to the accounting and analytical support formation for optimization. The organization of accounting and analysis of costs by their belonging to transactions can improve the quality of accounting and analytical support and, consequently, the information base for management decisions. At present, the digital technologies that can be used in financial and operational activities contribute to cost reduction.

Keywords: accounting and analytical support, transaction cost, transformation cost, neo-institutionalist theory


  1. Coase R. Firma, rynok i pravo [The Firm, the Market, and the Law]. Moscow, Novoe izdatel'stvo Publ., 2007, 224 p.
  2. Williamson O.E. Ekonomicheskie instituty kapitalizma: Firmy, rynki, “otnoshencheskaya” kontraktatsiya [The Economic Institutions of Capitalism: Firms, Markets, Relational Contracting]. St. Petersburg, Lenizdat, CEV Press Publ., 1996, 702 p.
  3. Eggertsson T. Ekonomicheskoe povedenie i instituty [Economic Behavior and Institutions]. Moscow, Delo Publ., 2001, 407 p.
  4. North D.C. Instituty, institutsional'nye izmeneniya i funktsionirovanie ekonomiki [Institutions, Institutional Change and Economic Performance]. Moscow, Fond ekonomicheskoi knigi Nachala Publ., 1997, 180 p.
  5. Dietrich M. Transaction Cost Economics and Beyond: Toward a New Economics of the Firm. London, Routledge, 2008, 232 p.
  6. Dahlman C.J. The Problem of Externality. The Journal of Law and Economics, 1979, vol. 22, no. 1, pp. 141–162. URL: Link
  7. Shastitko A.E. Novaya institutsional'naya ekonomicheskaya teoriya: monografiya [The new institutional economic theory: a monograph]. Moscow, TEIS Publ., 2010, 828 p.
  8. Safonova O.V. [Terminology research on the issue category of transaction costs]. Izvestiya VUZov. Seriya: Ekonomika, finansy i upravlenie proizvodstvom = News of Higher Educational Institutions. Series: Economics, Finance and Production Management, 2018, no. 1, pp. 61–68. URL: Link (In Russ.)
  9. Furubotn E.G., Richter R. Instituty i ekonomicheskaya teoriya: Dostizheniya novoi institutsional'noi ekonomicheskoi teorii [Institutions and Economic Theory]. St. Petersburg, Saint-Petersburg State University Publ., 2005, 701 p.
  10. Kapelyushnikov R.I. Kategoriya transaktsionnykh izderzhek. Sbornik nauchnykh statei Instituta kommercheskoi inzhenerii “Kak eto delaetsya: finansovye, sotsial'nye i informatsionnye tekhnologii”. Vyp. 3. Seriya: Issledovaniya i razrabotki [The category of transaction cost. In: How it is done: Financial, social and information technologies: A collection of scientific articles. Issue 3. Series: Research and Development]. Moscow, Institute for Commercial Engineering Publ., 1994, pp. 9–18. URL: Link
  11. Ménard C. Ekonomika organizatsii [The Economics of Hybrid Organizations]. Moscow, INFRA-M Publ., 1996, 159 p.
  12. Lebedeva T.N. [Accounting of transaction costs of a firm]. Diskurs = Discourse, 2018, no. 5, pp. 62–65. URL: Link (In Russ.)
  13. Sharafutdinova K.A., Vlasov M.V. [A comparative analysis of transaction costs]. Zhurnal ekonomicheskoi teorii = Russian Journal of Economic Theory, 2019, vol. 16, no. 4, pp. 881–886. (In Russ.) URL: Link
  14. Plaskova N.S., Prokof'eva E.V. [Modern trends of development of economic analysis methods]. Uchet. Analiz. Audit = Accounting. Analysis. Auditing, 2019, vol. 6, no. 2, pp. 47–51. (In Russ.) URL: Link
  15. Fetisova O.A. [Methods of calculating the cost of production (works, services) of the information technology sphere based on target-costing and kaizen-costing systems]. Finansovyi zhurnal = Financial Journal, 2015, no. 6, pp. 90–101. URL: Link (In Russ.)
  16. Korchagina L.M. [Strategic cost accounting in the modern economy: Analysis of methods]. Ekonomika i upravlenie: problemy, resheniya = Economics and Management: Problems, Solutions, 2021, vol. 4, no. 4, pp. 141–144. (In Russ.) URL: Link
  17. Kir'yanov I.V. [Quantitative evaluation of transaction costs organizations. The general methodological approach]. Vestnik NGUEU = Vestnik NSUEM, 2015, no. 1, pp. 78–101. URL: Link (In Russ.)
  18. Collins B.M., Fabozzi F.J. A Methodology for Measuring Transaction Costs. Financial Analysts Journal, 1991, vol. 47, no. 2, pp. 27–36. URL: Link
  19. Frolov D.P. [From transaction cost to transaction value: Overcoming the frictional paradigm]. Voprosy Ekonomiki, 2020, no. 8, pp. 51–81. (In Russ.) URL: Link
  20. Ichino P. A New Labour Law for Platform Workers and Umbrella Companies. Work Organisation, Labour & Globalisation, 2018, vol. 12, iss. 2, pp. 12–22. URL: Link
  21. Starukhin V.A. [Digitalization as a method of reducing transaction costs of a manufacturing enterprise]. KANT, 2021, no. 4, pp. 95–99. (In Russ.) URL: Link
  22. Gur'yanova E.A. [Transaction costs of an organization in the context of informatization of the economy]. Intellekt. Innovatsii. Investitsii = Intellect. Innovations. Investments, 2020, no. 6, pp. 33–39. (In Russ.) URL: Link

View all articles of issue


ISSN 2311-9381 (Online)
ISSN 2073-5081 (Print)

Journal current issue

Vol. 27, Iss. 6
June 2024