MODERN APPROACHES TO ACCOUNTING AND ANALYSIS OF THE COST OF FINISHED PRODUCTS

Abstract

Introduction. Manufacturing enterprises constitute a significant segment of Ukraine’s economy. In the context of technological advancements and the implementation of modern accounting software, the need for accurate cost accounting is becoming increasingly important. The cost of finished goods directly affects pricing, financial performance, and tax liabilities. This highlights the relevance of studying cost accounting practices at domestic enterprises. Purpose. The main purpose of the article is to analyze key aspects of expense accounting and cost calculation of finished goods at manufacturing enterprises. It aims to identify efficient methods for allocating and managing production costs, ensuring accuracy in financial reporting and effective enterprise management. Methods. The study employs general scientific and economic analysis methods, including comparison, synthesis, grouping, and tabular presentation of data. National accounting standards and legislative acts regulating the cost accounting process in Ukraine were also used. Analytical tables were applied to examine the structure. Results. The article outlines the structure of production costs based on national standards and highlights the importance of maintaining analytical tables for monitoring and comparing costs over different periods. It also emphasizes the necessity of regular cost analysis and the automation of cost tracking systems to reduce human error and improve decision-making. The integration of modern technologies such as SCADA systems, IoT devices, and digital sensors enables real-time data collection from equipment, helping to form accurate cost structures. Furthermore, the study discusses the inclusion of third-party processing (tolling arrangements) into the cost of production and the importance of obtaining detailed reports from processors to justify expense allocation. Conclusion. Accurate cost accounting plays a critical role in ensuring financial transparency and operational efficiency in manufacturing enterprises. Implementing analytical tools and automation technologies significantly enhances the quality of cost control and financial planning. Enterprises should integrate cost analysis tools into their accounting systems and use technological solutions to improve production monitoring and optimize expenses. The article provides practical recommendations for improving the organizational and methodological support of accounting, which contributes to better financial results and compliance with tax legislation.