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THE COST MANAGEMENT BY APPLYING THE STANDARD COSTING METHOD IN THE FURNITURE INDUSTRY-Case study

Author

Listed:
  • Radu Mărginean

    („1 Decembrie 1918” University of Alba-Iulia, Romania)

Abstract

Among the modern calculation methods used in managerial accounting, with a large applicability in the industrial production field, we can find the standard costing method. This managerial approach of cost calculation has a real value in the managerial accounting field, due to its usefulness in forecasting production costs, helping the managers in the decision making process. The standard costing method in managerial accounting is part of modern managerial accounting methods, used in many enterprises with production activity. As research objectives for this paper, we propose studying the possibility of implementing this modern method of cost calculation in a company from the Romanian furniture industry, using real financial data. In order to achieve this aim, we used some specialized literature in the field of managerial accounting, showing the strengths and weaknesses of this method. The case study demonstrates that the standard costing modern method of cost calculation has full applicability in our case, and in conclusion it has a real value in the cost management process for enterprises in the Romanian furniture industry.

Suggested Citation

  • Radu Mărginean, 2013. "THE COST MANAGEMENT BY APPLYING THE STANDARD COSTING METHOD IN THE FURNITURE INDUSTRY-Case study," SEA - Practical Application of Science, Romanian Foundation for Business Intelligence, Editorial Department, issue 1, pages 97-105, June.
    • Handle: RePEc:cmj:seapas:y:2013:i:1:margineanr
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    Citations

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    Cited by:

    1. Radu MARGINEAN, 2019. "The Efficiency Of Calculating The Costs Through Order Method In The Furniture Industry - Case Study," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 1(21), pages 1-2.
    2. Radu MĂRGINEAN & Delia Corina MIHĂLȚAN, 2020. "Perfecting Management Accounting In The Furniture Industry Through The Abc Method," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 1(22), pages 1-2.

    More about this item

    Keywords

    Managerial accounting; Management process; The standard costing method; The furniture industry;
    All these keywords.

    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • L52 - Industrial Organization - - Regulation and Industrial Policy - - - Industrial Policy; Sectoral Planning Methods
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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