The Institute of System Researches in the Agro-Industrial Complex of the National Academy of Sciences of Belarus

Information of the real cost price of milk and cattle meat production directly affects the accuracy and timeliness of management decisions in agricultural organizations. This led to the main objective of this study - with the help of an inclusive approach of calculating costs, to display the actual situation with costs and efficiency in cattle breeding, to develop a methodology for applying this approach in practice. The second objective of this longitudinal study is to look at the dynamics of the evolution of costs and prices for milk and cattle meat, since their change is closely related to understanding the past and present problems faced by agricultural producers. The paper describes the method developed by the author to distribution of costs in cattle breeding, the scale for determining the residual value of animal has been presented, depending on the period of its useful use. The method is based on a more accurate distribution of the company’s expenses by types of products obtained and complements the current cost price calculation methodology. Approbation of the developed inclusive approach to calculating costs in cattle breeding made it possible to assess the actual situation in the industry: cattle fattening is not that unprofitable (calculations have shown that fattening is effective in one third of the thousand surveyed agricultural organizations), and milk production is not as efficient as it is commonly believed (only a quarter of enterprises receive actual profits from milk sale).

Innovative Model of the Cost Price Calculation of Products from Invasive Non-Native Wood Species Based on the FTDABC Method

Invasive tree species continue to spread, so in addition to strategies to limit this their use in the production of innovative products must be considered. This research aimed to develop and apply a model for calculating the cost price of invasive wood products considering the specificities of materials and production process, and is suitable for quickly assessing the economic feasibility of using the selected tree species for a given product. The TDABC method with the inclusion of fuzzy logic was used to incorporate the uncertainty of time and quality parameters. In the model, the imprecise values of these parameters are represented with triangular fuzzy numbers. Using a furniture product (dining table) made of black locust wood as an example, we demonstrated the applicability of the developed model. We found that the most probable cost price of a table made of black locust wood is comparable to the price of a product made of oak wood. In this way, we proved the potentially high economic value of invasive wood. The innovative products from invasive non-native wood species can achieve a high added value due to their visual characteristics and attractive appearance. Such use could increase interest in the (more efficient) management of invasive tree species, which would help to manage and use them efficiently. For further research, it would be useful to apply the proposed model to other invasive tree species as well as to other products.

Improving public sector entities reporting in terms of transparency of the budget process

In the context of the declared state policy on openness and transparency of the budget process, there is a need to improve public sector entities reporting as a key information base on state budget expenditures. Current reporting forms of public sector entities do not reflect information on the types of expenditures (direct and general production), and do not contain information on the cost price of public services financed under the budget program. The article substantiates the expediency of making changes in the forms of financial reporting of public sector entities by disclosure of information on expenditures in terms of direct and general production expenses. This will reflect the use of public financial resources and will establish a relationship between the use of budget funds to pay for public services (direct expenses) or maintenance of institutions (general production expenses). At the same time, it is proposed to supplement forms № 2-ds and № 5-ds with the section “Cost price of sold products, works, services”, which will reveal data on the actual cost price of public services as a key indicator that retransmits public finance management results and their compliance with objectives and expected result of the budget program and state policy in the relevant field. The proposed approach to modernization of disclosure of reporting information will establish methodological integration of conceptual provisions of NP(S)АS 135 “Costs” with forms of financial and budgetary reporting, will promote the implementation of the declared principles of transparency in the budget process, and ensure compliance with the program-target method establishing the relationship between the use of budget funds and performance of public sector entities.

Payment of Zakat on Business Using Stock and Goods:A Preliminary Analysis

Zakat is one of the obligations on every Muslim with the aim of helping those who are poor and needy while at the same time purifying the wealth and soul of the contributor. There are several types of zakat and one of them is zakat on business. In discussing Shariah issues related to zakat on business, one of the topics discussed is the method of payment of zakat on business, whether paying with money, stocks or business goods or a choice between the two. In view of the need to pay zakat other than using money, especially in the case of companies which have a shortage of cash and excess unsold merchandise, the study was conducted to obtain information on the debate of scholars on the Shariah rule for payment of zakat with goods, and their potential for application in business zakat payments, in addition to the challenges and constraints in its implementation. The study utilized a comprehensive library study, analyzing the arguments and scholars’ discussions related to the subjectand selecting the preferred opinions. The findings showed that in terms of the payment method for zakat on business, some scholars viewed that the payment of business zakat must utilise money, while some stated that the payment must be in the form of goods and stocks of the business itself, while some others stated that the payment of zakat on business is the right of the contributor to choose from money or goods and stocks. The study also found that there were several issues and challenges in the implementation of zakat payments using business goods, including the existing fatwa on zakat on business that stipulated only money would be accepted as zakat payment and it must be paid to zakat authorities. The study also aimed to determine the type of goods to be accepted as business zakat payments, the method of zakat calculations on the goods and whether it should be at original cost price, current market price or premium or discount, and other issues.

Impovement Of Cost Formation Methods At Industrial Enterprises Taking Into Account Supply Chains

The essence of the concept of the "cost price" and the terms "economic cost elements", "lean production" are disclosed and described in this work. The author proposes the concept of "effective cost formation" into account the link of their formation.In the present article the author reveals the necessity of calculating the cost price on the enterprises. The need for revealing the essence and understanding of the economic component elements of the cost price at the industrial enterprises are determined here. The indicators of efficiency of economic elements of the cost price at the industrial enterprises are also highlighted in the present work. It is established that the effective formation of the cost price allows to increase the profit of the enterprise, which in in its turn increases the working capital of the enterprise, which enables the enterprise to buy raw materials and increase production volumes what results in costs reduction labor productivity increase. The article offers a methodological approach, using an integral and factor indicators that take into account the impact of "lean production" implementation, which accounts for every hryvnia of sales. The factor model allows to calculate possible reserves to reduce the cost price of the enterprise with effective management optimization of the formation, as well as through the introduction of "lean production".