Keywords
Abstract
The study sought to identify the role of modern cost accounting methods in improving production management using various modern methods. The study aimed to know the use of modern cost accounting methods in improving and developing production management by applying some methods, namely the total cost method, the activity-based cost method, and the target cost method.
The importance of the study stems from demonstrating the regulatory and supervisory role of cost accounting methods in improving production management. The study relied on the descriptive analytical approach to linking the institution's objectives and available resources. The study achieved several results, including are: Relying on the total cost method helps improve production management and determine pricing policies. The activity-based costing method helps improve production management by determining product costs with a greater degree of accuracy and fairness by maintaining quality and reducing costs. Modern methods of cost accounting contribute to providing management with accurate information characterized by honesty and objectivity and assisting it in the planning and control process. Applying the target costing method leads the organization to continually reduce its costs and prices through the control it applies in all stages of production. The study recommended the need to develop awareness of the organization's decision makers and the importance of applying modern methods of cost accounting to improve production management.