IMPROVING COST CALCULATION IN THE IRON AND STEEL INDUSTRY IN LIBYA USING THE STANDARD COST METHOD ÃŽMBUNÄ‚TÄ‚Å¢IREA CALCULAÅ¢IEI COSTURILOR ÃŽN INDUSTRIA DE FIER ÅžI OÅ¢EL DIN LIBIA PRIN FOLOSIREA METODEI STANDARD COST

Abdelkarim S.Mohmed Abdelali

Abstract


The iron and steel industry has a strategic role in each country`s economy as there is a direct connection between its production level and economic development. In the countries with developed market economy, the standard cost reflects the efficiency of the production process. In this context, the use of the standard cost method represents an instrument for research and estimation. This paper`s intention is to present the advantages offered by the application of the standard cost method in the iron and steel industry.


Keywords


standard cost; calculation; deviations; iron and steel industry; Libya

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References


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http://libyansteel.com/lisco/

www.worldsteel.org


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LUCRĂRI ȘTIINȚIFICE MANAGEMENT AGRICOL

ISSN print 1453-1410
ISSN online 2069-2307
(former ISSN 1453-1410, E-ISSN 2069-2307)

PUBLISHER: AGROPRINT Timisoara, Romania
PAPER ACCESS: Full text articles available for free
FREQUENCY: Annual
PUBLICATION LANGUAGE: English

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Banat`s University of Agricultural Sciences and Veterinary Medicine “King Michael I of Romania” from Timisoara
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