EFFECTS OF APPLICATION OF MODERN CALCULATION METHODS IN SMEs

Abstract

Complex and dynamic changes in the environment have also
generated changes in companies, in terms of changes in the structure
of production costs and the way of maintaining competitiveness. For
the purpose of more precise cost identification, we are witnesses of the
accelerated development of cost management methods aimed at
improving competitiveness. The work is based on the analysis of
literature and practice of cost efficiency management in small and
medium enterprises (hereinafter: SMEs) in order to promote the
information spectrum of modern cost management methods. Due to
constant changes in the today's economy of companies, it is necessary
to manage costs in an adequate and subtle way, which implies the
application of modern methods. Knowing the effects of strengths and
weaknesses of modern methods, the most rational and reliable way is to get as much relevant and accurate information about costs as
possible. Contemporary cost management does not completely neglect
traditional methods, but affirms the need for the effective selection and
a combination of modern management methods. The aim of the paper
is to draw attention to the modern concept of cost management in
SMEs, and to highlight the scope of the information spectrum of key
cost management methods and the concept of their optimal
combination in order to improve the competitiveness of SMEs.