scholarly journals IDENTIFICATION OF TRANSACTION COST MANAGEMENT FUNCTIONS

2021 ◽  
Vol 1 (49) ◽  
Author(s):  
Sergiy Bardash ◽  
Tatiana Osadcha
Keyword(s):  
Transaction Costs ◽  
Transaction Cost ◽  
Financial Stability ◽  
Cost Management ◽  
Economic Benefits ◽  
Information Support ◽  
Control Analysis ◽  
Accounting System ◽  
Management Process ◽  
Management Functions

The basis of information support in the field of economic relations is an accounting system adequate to modern needs. However, such an accounting system as the basis of information support and accounting as one of the functions of management does not create sufficient prerequisites to ensure the effectiveness of the management process, including transaction cost management. Motivation in the process of managing transaction costs involves the use of moral and material incentives for employees of the entity, namely monetary rewards, recognition of achievements, promotion, providing conditions for the manifestation of creative potential in order to prevent deviant behaviour, the consequences of which are the search for economic benefits from the resources of the business units. In addition, the function of motivation should extend to the business partners of the entity and consider their interests, goals and business reputation. The indicated information should form sufficient grounds for the motivational component of business negotiations and create conditions for obtaining the desired result. Effective transaction cost management is a prerequisite for the competitiveness of products, goods, works, services, and the business unit that produces, sells and aims to ensure a lasting plateau of financial stability. This dependence exists since transaction costs both create conditions for further growth of profits generated by the entity and can reduce it under opportunistic behaviour. Optimization of transaction costs can be achieved not only through their accounting, control, analysis, but also the performance of other management functions, the list of which, as evidenced by the study of recent publications, is not definitively defined. This paper proves that transaction cost management is a mandatory component of the dynamic management process of the entity, which should be harmonized with the overall management process and meet its main goal – to achieve high economic performance

scholarly journals IDENTIFICATION OF MANAGEMENT FUNCTIONS OF TRANSACTION COSTS IN RENTAL RELATIONS

2019 ◽  
Vol 4 (44) ◽  
pp. 79-90
Author(s):  
Sergiy Bardash ◽  
Tatiana Osadcha
Keyword(s):  
Transaction Costs ◽  
Practical Significance ◽  
Control Analysis ◽  
Management Process ◽  
Root Cause ◽  
General Management ◽  
Analysis And Synthesis ◽  
Scientific Results ◽  
Accounting Control ◽  
Management Functions

The urgency of the research consists in the existence of problem issues related to managing transaction costs in terms of rental relations, the main ones being their identification, measurement, accounting, control and analysis.  The root cause of the existence of these problems is the uncertainty of procedural content and the composition of the management functions of transaction costs. The purpose of the research is to determine the composition, interconnection and content of the main management functions of transaction costs. The research methodology is dialectical, abstract-logical and bibliographic methods, by which, based on the critical analysis of the main management functions of transaction costs, the composition of the main management functions of transaction costs is determined; techniques of induction, deduction, analysis and synthesis are applied to identify the content of the management functions of transactional costs of the enterprise as the basis for formation of an interaction system of the management mechanism of such costs. It has been established that management of transaction costs is an obligatory component of the dynamic management process of a business entity, which must be harmonized with the general management process and be consistent with its main purpose – to achieve high economic results of the enterprise. The structure of the main management functions of transaction costs (planning, organization, motivation, accounting, control, analysis, adjustment and coordination), logic of their implementation, interconnection and essence within the framework of implementation of rental relations are established. The practical significance of the research is to create a basis for building a management system for transaction costs and to determine the conditions for its effectiveness. The obtained scientific results will form the prospects for further research, which will consist in determining the elements of the system and the mechanism of transaction costs management by entities of rental relations.

scholarly journals METHODICAL AND ORGANIZATIONAL FEATURES OF ACCOUNTING INVENTORIES OF ENTERPRISES

2020 ◽  
Author(s):  
Tetyana Polova ◽  
◽  
Tetyana Ohrey ◽  
Keyword(s):  
Methodological Approach ◽  
Economic Benefits ◽  
Information Support ◽  
Accounting System ◽  
Economic Activities ◽  
Operating Cycle ◽  
Maximum Information ◽  
Construction Enterprise ◽  
Construction Enterprises ◽  
Construction Companies

The purpose of article is to substantiate formation of information support for movement of inventories of construction enterprises by clarifying methodological and organizational accounting aspects. To achieve this goal, task is to identify and summarize main provisions of methodological approach to accounting for inventories at the enterprise. The basis of study is a systematic approach to knowledge of accounting procedures and technology of accounting for inventories of enterprise, as well as methods of logical generalization and comparison, synthesis and generalization, abstract-logical. It is recommended that inventories for accounting purposes should be understood as material resources (assets) received by the enterprise for their use in economic activities and which in future will provide economic benefits, and their value will be transferred to manufactured products in one operating cycle. Clarification of the definition of inventories allows you to more accurately identify objects of accounting that belong to composition of inventories. The order of production inventory technology is formed, which significantly affects effective implementation of accounting policy of enterprise through the selection of appropriate modules: organization of inventory accounting, synthetic and analytical accounting of inventory movement and formation of reporting forms, which discloses information about state and movement of inventories. The chain of movement of production stocks of construction enterprise in system of accounting objects is developed for purpose of providing the reliable data on their change in structure of property in accounting. It is recommended to pay attention of construction companies to improvement of accounting system in certain aspects to ensure maximum information of management or owners. The practical value of article is to provide recommendations for determining the basic aspects of primary monitoring and outlining contours of technology of accounting for inventories at construction enterprises. The scientific value lies in substantiation of basic conceptual foundations of inventory accounting.

scholarly journals FORMATION OF ACCOUNTING POLICY ON THE COSTS OF THE ENTERPRISE

2021 ◽  
Author(s):  
Oleksandra Tesak
Keyword(s):  
Financial Reporting ◽  
Cost Management ◽  
Central Place ◽  
Economic Benefits ◽  
The State ◽  
National Standards ◽  
Production Costs ◽  
Accounting System ◽  
Efficiency Cost ◽  
Accounting Policy

The peculiarities of the concept of “accounting policy”, the main components of the accounting policy of the enterprise and the main elements of accounting policy in terms of cost accounting are studied. Accounting policy occupies a central place in the accounting system. The purpose of the accounting policy is to satisfy the interests of the owners of the enterprise and external users of the information. Effective and rational organization of accounting at the enterprise begins with the development of its accounting policy, which provides for the choice of a set of methodical techniques, methods and procedures for organizing and maintaining accounting by the enterprise from among the generally accepted in the state. That is, the accounting policy of a particular enterprise depends on the state policy in the field of accounting. One of the most important areas of accounting at the enterprise is accounting for the costs of the enterprise. According to the BOC, the costs are understood as a decrease in economic benefits as a result of asset withdrawal or an increase in liabilities that lead to a decrease in equity. In accounting, expenses are recorded subject to certain conditions. Expenses are recognized as expenses of a certain period at the same time as recognition of the income for which they were made. This complies with the principles of International Financial Reporting Standards and the principle of accrual and compliance of income and expenses applied in national standards. If costs cannot be directly associated with income for a certain period, they are recorded as part of the expenses of the reporting period in which they were made. In the process of cost management, the focus is on minimizing their total volume. The greatest importance is the efficiency of obtaining information about costs, which allows to interfere in the production process in order to optimize it, to prevent non-production costs, which is of great importance in mobilizing production reserves and increasing its efficiency. Cost management allows you to provide a generalized assessment of the effectiveness of resource use and determine reserves for increasing profits and reducing the price of a unit of products. Costs are an integral part of any system and require constant monitoring, analysis and, if necessary, strict regulation.

From transaction costs to transaction value: Overcoming the frictional paradigm

2020 ◽  
pp. 51-81
Author(s):  
D. P. Frolov
Keyword(s):  
Transaction Costs ◽  
Transaction Cost ◽  
Path Dependence ◽  
Transaction Cost Economics ◽  
Cost Minimization ◽  
Low Cost ◽  
Coase Theorem ◽  
Transactional Analysis ◽  
Transaction Sector ◽  
Transaction Value

The transaction cost economics has accumulated a mass of dogmatic concepts and assertions that have acquired high stability under the influence of path dependence. These include the dogma about transaction costs as frictions, the dogma about the unproductiveness of transactions as a generator of losses, “Stigler—Coase” theorem and the logic of transaction cost minimization, and also the dogma about the priority of institutions providing low-cost transactions. The listed dogmas underlie the prevailing tradition of transactional analysis the frictional paradigm — which, in turn, is the foundation of neo-institutional theory. Therefore, the community of new institutionalists implicitly blocks attempts of a serious revision of this dogmatics. The purpose of the article is to substantiate a post-institutional (alternative to the dominant neo-institutional discourse) value-oriented perspective for the development of transactional studies based on rethinking and combining forgotten theoretical alternatives. Those are Commons’s theory of transactions, Wallis—North’s theory of transaction sector, theory of transaction benefits (T. Sandler, N. Komesar, T. Eggertsson) and Zajac—Olsen’s theory of transaction value. The article provides arguments and examples in favor of broader explanatory possibilities of value-oriented transactional analysis.

Specifics of creating an effective system of project financing of innovation and investment activities of dairy subcomplex enterprises

2020 ◽  
Vol 26 (9) ◽  
pp. 1951-1969
Author(s):  
S.A. Chernikova
Keyword(s):  
Financial Stability ◽  
Current Model ◽  
Methodological Approach ◽  
Information Support ◽  
Competitive Advantages ◽  
Project Financing ◽  
Financing System ◽  
Management Of Innovation ◽  
Effective System ◽  
The Impact

Subject. The article considers the need to study the financing of investment and innovation processes and creating an effective system of project financing. Objectives. The purpose is to search for new opportunities to enhance the competitive advantages of enterprises of the dairy subcomplex, to ensure their financial stability and steady position in specialized agricultural food-product markets. Methods. The study draws on the theoretical and methodological approach to the impact of project management of innovation and investment activities on improving the efficiency of the project financing system and financial stability of enterprises operating in the dairy subcomplex. Results. The findings show that four levels can be distinguished in the formation and improvement of the system of project financing and the management of innovation and investment activities, depending on the depth of transformation. The principle that provides the integration of the said system with the current model of management of the dairy subcomplex enterprise is defined as a driver. The paper offers a number of levels of the system transformation to gain competitive advantages. Conclusions. I present a mechanism for creating and improving the system of project financing and the management of innovation and investment activities, and a mechanism for interaction of the network of automated information systems, intended to make management decisions, with the automation of information support to innovative solutions.

FORMATION OF CORPORATE CULTURE OF MEDIA ENTERPRISES

2017 ◽  
Author(s):  
Anna Oleshko ◽  
◽  
Olena Basarab ◽  
Keyword(s):  
Corporate Culture ◽  
Positive Impact ◽  
Employee Motivation ◽  
Economic Benefits ◽  
Internal Communication ◽  
Information Support ◽  
Special Role ◽  
Corporate Communications ◽  
Media Companies ◽  
The Media

The article identifies specific features and suggests areas for improving the corporate culture of media enterprises. Dynamic changes in the economy due to digitalization require a revision of existing organizational forms and methods of management and the formation of a qualitatively new corporate culture at all hierarchical levels. The difficulty of solving this problem is the need to eliminate the negative elements in the Ukrainian corporate culture while adapting the development strategies of organizations to new economic conditions. The specifics of the formation of corporate culture of the media company is its special role, which is to implement the information product in order to obtain economic benefits and meet the social and communication needs of different segments of society. The article proposes changes in the organizational structure of media companies by creating a department for internal corporate communications in order to form a corporate culture that can increase the competitiveness of the company and form its positive image in the media space. This will form a highquality information support for internal communication of the enterprise, increase employee motivation and effectiveness of control over their work. The formation of a qualitatively new corporate culture of media enterprises also involves the transformation of the management system taking into account the need to focus on the use of creative work, increasing the level of knowledge, digital competencies, skills and professionalism, observance of system values of society. Ultimately, the formation of an effective corporate culture will have a positive impact on the process of creating quality information products

Analytical support to organization system of children transportation in long-distance trains

2018 ◽  
Vol 77 (6) ◽  
pp. 232-330
Author(s):  
A. V. Komissarov ◽  
E. A. Makarova ◽  
S. V. Muktepavel ◽  
I. A. Nestrakhov ◽  
I. N. Spesivtseva
Keyword(s):  
Time Of Arrival ◽  
Control Analysis ◽  
Social Significance ◽  
Passenger Cars ◽  
Long Distance ◽  
Number Of Children ◽  
Passenger Traffic ◽  
Destination Station ◽  
Increasing Demand ◽  
Management Functions

Abstract. In modern conditions for passenger complex of Russian Railways, important tasks include improvement of transportation quality, maintenance of stable positions in a competitive environment and increasing demand. To address these issues, a customer-oriented approach is applied based on the segmentation of transport market in relation to certain groups of passengers. Performance of children's transportation is of particular relevance and social significance. Railways are charged with a huge range of work, including sale of travel documents, preparation and equipping of passenger cars, provision of food during the trip, instructing workers, ensuring security during the embarkation/disembarkation of passengers, etc. Children can travel as individually with accompanying persons and as part of organized groups. Processes of planning, organizing, monitoring the transportation of this age category of passengers are associated with the analysis of a large amount of reference and regulatory and reporting documentation. On the basis of the ACS “Express-3”, a program-analytical complex “Children's transportation” was developed and implemented, which allows to receive data at the regional and network levels in the operational (train number, day) and statistical (period of dates, month) modes. This information technology provides analytical support for key transportation management functions — planning, control, analysis. Planning of transportation of organized children's groups is carried out on the basis of a study of the dynamics of data on the number of applications received and travel documents issued, determining the routes of trains, periods of the highest intensity of passenger traffic, obtaining information about the stations of embarkation and disembarkation. To perform the functions of monitoring the embarkation and disembarkation at the destination station of groups of children, the employees involved receive information on the train number, car number, date and time of arrival, number of children in the group using the Children's Transportation software. For the analysis of transportation of children's age categories, a functional has been developed that ensures the construction of aggregated reporting based on trains data that completed the trip. Users receive reporting information in table form, including “strict” (designed according to the approved layout) and “flexible” forms (construction is performed according to specified parameters). Software and analytical complex is designed for managers and specialists of the passenger unit of the JSC “Russian Railways”, has a modular principle of increasing functionality and provides a solution to current problems in the system of organizing children's transport service.

On a Fallacy in the Coase Theorem and the Theorem of Transaction Costs Substitution

2020 ◽  
Vol 0 (0) ◽  
Author(s):  
Steven N. S. Cheung
Keyword(s):  
Transaction Costs ◽  
Transaction Cost ◽  
Coase Theorem ◽  
Economic Institutions ◽  
General Version ◽  
Historical Account ◽  
Rent Dissipation

AbstractThis paper first presents a historical account of the origin of the Coase Theorem. It then elaborates its significance in explaining the working of economic institutions. After expounding the concepts of transaction cost and rent dissipation, it points out an error in the Coase Theorem. Lastly, the paper propounds the Theorem of Transaction Costs Substitution as an extended and general version of the Coase Theorem.

scholarly journals Firms' Choice of Regulatory Instruments to Reduce Pollution: A Transaction Cost Approach

2004 ◽  
Vol 6 (3) ◽  
pp. 1-20 ◽  
Author(s):  
Magali Delmas ◽  
Alfred Marcus
Keyword(s):  
Transaction Costs ◽  
Transaction Cost ◽  
Transaction Cost Economics ◽  
Command And Control ◽  
Governance Structure ◽  
Governance Structures ◽  
Negotiated Agreements ◽  
Regulatory Instruments ◽  
Market Opportunities ◽  
And Control

This paper compares the economic efficiency of firm-agency governance structures for pollution reduction using transaction costs economics. Two governance structures are analyzed with the transaction costs approach: command and control regulation (CCR) and negotiated agreements (NAs). We propose that the choice of governance structure depends on the strategies firms pursue given the attributes of their transactions and their market opportunities. The application of transaction cost economics analysis leads to different choices of regulatory instruments. Firms in more mature, stable industries are likely to choose command and control, while firms in new, dynamic sectors are more likely to opt for negotiated agreements. Frequency of transactions is a key factor in firm choice.

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