JIT Philosophy in Modern Management Cost Accounting and Performance Management Systems

Currently, traditional cost accounting methods are losing their relevance. Modern production environment is unpredictable and customer-oriented. Product life cycle becomes shorter, and consumers’ tastes are more capricious and fickle. All these factors suggest the need for flexible and adaptive cont...

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Autores principales:	L. B. Zakieva, A. Yu. Sokolov
Formato:	article
Lenguaje:	EN RU
Publicado:	North-West institute of management of the Russian Presidential Academy of National Economy and Public Administration 2019
Materias:	just in time cost accounting methods key performance indicators business performance management Political institutions and public administration (General) JF20-2112
Acceso en línea:	https://doaj.org/article/562d267d957b40bd888ee65773136993
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spelling	oai:doaj.org-article:562d267d957b40bd888ee657731369932021-11-12T10:46:10ZJIT Philosophy in Modern Management Cost Accounting and Performance Management Systems1726-11391816-859010.22394/1726-1139-2019-10-68-80https://doaj.org/article/562d267d957b40bd888ee657731369932019-11-01T00:00:00Zhttps://www.acjournal.ru/jour/article/view/1215https://doaj.org/toc/1726-1139https://doaj.org/toc/1816-8590Currently, traditional cost accounting methods are losing their relevance. Modern production environment is unpredictable and customer-oriented. Product life cycle becomes shorter, and consumers’ tastes are more capricious and fickle. All these factors suggest the need for flexible and adaptive control schemes.Successful decision-making is determined by well-built cost accounting system. The article proposes on the basis of the symbiosis of “just-in-time” approach, adherence to the principles of continuous improvement, and cost accounting methods — Kaizen-costing, standard-costing, target-costing, time-driven activity based costing, backflush accounting and value stream costing — to develop business performance management system that meets the needs of the modern business environment. The principles of continuous improvement, integrated into «Just In Time” management system, expand the horizon of opportunities for strategic management accounting. Zero-inventory philosophy, combined with flexible and adaptable management schemes, can also provide a powerful competitive advantage. The article recommends a system of key performance indicators to monitor the implementation of “Just in Time” philosophy in the symbiosis with these cost accounting methods. Zero-inventory approach has a number of drawbacks. However, integration of concepts with advanced cost accounting techniques will partly offset these shortcomings.The purpose of the article is to study the possibility of integration of «Just in Time” philosophy and advanced cost accounting methods, with respect to their features and peculiarities. The theoretical basis is the hypothesis of improving business performance management system based on “Just in Time” management approach, through its integration with the principles of continuous improvement and modern management approaches, quality assurance and approval.The main result of the article is an enhanced management accounting tools that allow to respond to changes in the environment of the company, develop measures aimed at adapting to these changes and ensuring compliance with the company’s strategy.L. B. ZakievaA. Yu. SokolovNorth-West institute of management of the Russian Presidential Academy of National Economy and Public Administration articlejust in timecost accounting methodskey performance indicatorsbusiness performance managementPolitical institutions and public administration (General)JF20-2112ENRUУправленческое консультирование, Vol 0, Iss 10, Pp 68-80 (2019)
institution	DOAJ
collection	DOAJ
language	EN RU
topic	just in time cost accounting methods key performance indicators business performance management Political institutions and public administration (General) JF20-2112
spellingShingle	just in time cost accounting methods key performance indicators business performance management Political institutions and public administration (General) JF20-2112 L. B. Zakieva A. Yu. Sokolov JIT Philosophy in Modern Management Cost Accounting and Performance Management Systems
description	Currently, traditional cost accounting methods are losing their relevance. Modern production environment is unpredictable and customer-oriented. Product life cycle becomes shorter, and consumers’ tastes are more capricious and fickle. All these factors suggest the need for flexible and adaptive control schemes.Successful decision-making is determined by well-built cost accounting system. The article proposes on the basis of the symbiosis of “just-in-time” approach, adherence to the principles of continuous improvement, and cost accounting methods — Kaizen-costing, standard-costing, target-costing, time-driven activity based costing, backflush accounting and value stream costing — to develop business performance management system that meets the needs of the modern business environment. The principles of continuous improvement, integrated into «Just In Time” management system, expand the horizon of opportunities for strategic management accounting. Zero-inventory philosophy, combined with flexible and adaptable management schemes, can also provide a powerful competitive advantage. The article recommends a system of key performance indicators to monitor the implementation of “Just in Time” philosophy in the symbiosis with these cost accounting methods. Zero-inventory approach has a number of drawbacks. However, integration of concepts with advanced cost accounting techniques will partly offset these shortcomings.The purpose of the article is to study the possibility of integration of «Just in Time” philosophy and advanced cost accounting methods, with respect to their features and peculiarities. The theoretical basis is the hypothesis of improving business performance management system based on “Just in Time” management approach, through its integration with the principles of continuous improvement and modern management approaches, quality assurance and approval.The main result of the article is an enhanced management accounting tools that allow to respond to changes in the environment of the company, develop measures aimed at adapting to these changes and ensuring compliance with the company’s strategy.
format	article
author	L. B. Zakieva A. Yu. Sokolov
author_facet	L. B. Zakieva A. Yu. Sokolov
author_sort	L. B. Zakieva
title	JIT Philosophy in Modern Management Cost Accounting and Performance Management Systems
title_short	JIT Philosophy in Modern Management Cost Accounting and Performance Management Systems
title_full	JIT Philosophy in Modern Management Cost Accounting and Performance Management Systems
title_fullStr	JIT Philosophy in Modern Management Cost Accounting and Performance Management Systems
title_full_unstemmed	JIT Philosophy in Modern Management Cost Accounting and Performance Management Systems
title_sort	jit philosophy in modern management cost accounting and performance management systems
publisher	North-West institute of management of the Russian Presidential Academy of National Economy and Public Administration
publishDate	2019
url	https://doaj.org/article/562d267d957b40bd888ee65773136993
work_keys_str_mv	AT lbzakieva jitphilosophyinmodernmanagementcostaccountingandperformancemanagementsystems AT ayusokolov jitphilosophyinmodernmanagementcostaccountingandperformancemanagementsystems
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JIT Philosophy in Modern Management Cost Accounting and Performance Management Systems

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