Research on Modern Corporate Cost Management and Cost Control Methods

Min Chang

doi:10.62051/IJGEM.v2n3.38

Authors

Min Chang

DOI:

https://doi.org/10.62051/IJGEM.v2n3.38

Keywords:

Modern Enterprises, Cost Management, Cost Control

Abstract

With the continuous deepening of economic system reform and the advancement of economic structure transformation in China, the business environment for enterprises is becoming increasingly complex and competitive pressures are intensifying. In such a context, enterprises that wish to develop stably amidst fierce industry competition should actively adopt and implement modern corporate management concepts, enhancing the level of operational management comprehensively. Cost management, as a core component of modern enterprise management, is crucial not only for the economic benefits of a company but also directly relates to its market competitiveness. However, many companies still face numerous problems in cost management. To address these issues, modern enterprises must face the current situation and adopt effective measures. On the one hand, the importance of cost management should be emphasized through education to enhance everyone's awareness of costs. On the other hand, the procedures for cost accounting must be standardized to ensure the accuracy and reliability of cost data. Moreover, it is essential to continuously explore and introduce advanced cost control methods to improve the effectiveness of cost control and cost management levels, thus providing a solid guarantee for the stable and healthy development of the company and meeting the needs of sustainable development in the future.

Downloads

Download data is not yet available.

References

Gholamzadeh Chofreh A, Ariani Goni F, Shaharoun AM, Ismail S, Jaromír Klemeš J (2014) Sustainable enterprise resource planning: imperatives and research directions. J Clean Prod 71:139–147.

Dana LP, Rounaghi MM, Enayati G (2021) Increasing productivity and sustainability of corporate performance by using management control systems and intellectual capital accounting approach. Green Finance 3(1):1–14.

Rounaghi MM (2019) Economic analysis of using green accounting and environmental accounting to identify environmental costs and sustainability indicators. Int J Ethics Syst 35(4):504–512.

Anderson MC, Banker RD, Janakiraman S (2003) Are selling, general, and administrative costs “sticky”? J Acc Res 41(1):47–63.

Dalla Via N, Perego P (2014) Sticky cost behavior: evidence from small and medium sized companies. Acc Finance 54(3):753–778.

Elsayed A, Ibrahim A (2015) Economic growth and cost stickiness: evidence from Egypt. J Financ Rep Acc 13(1):119–140.

Mellat-Parast M, Digman LA (2008) Learning: the interface of quality management and strategic alliances. Int J Prod Econ 114:820–829.

Brüggen A, Zehnder JO (2014) SG&A cost stickiness and equity-based executive compensation: Does empire building matter? J Manag Control 25(3–4):169–192.

Bugeja M, Lu M, Shan Y (2015) Cost stickiness in Australia: characteristics and determinants. Aust Acc Rev 25(3):248–261.

Guenther TW, Riehl A, Rößler R (2014) Cost stickiness: state of the art of research and implications. J Manag Control 24(4):301–318.

Jiang W, Yao W, Hu Y (2016) The enforcement of the Minimum Wage Policy in China and firm cost stickiness. China J Acc Stud 4(3):339–355.

Li WL, Zheng K (2017) Product market competition and cost stickiness. Rev Quant Finance Acc 49(2):283–313.