Analysis of Terminology Used in Cost Management at Company Level

Досліджено еволюцію підходів до інтерпретації категорії "витрати" з позиції економічної теорії, проаналізовано та узагальнено підходи сучасних учених до визначення категорії "виробничі витрати" у контексті підприємства.Исследована эволюция подходов к интерпретации категории "затраты" с позиции экономической теории, проанализированы и обобщены подходы современных экономистов к определению категории "производственные затраты" в контексте предприятия.The article deals with the concept of cost, explores the concept of approaches to understanding the “costs” category from the perspective of economic theory, analyzes the evolution of approaches to understanding the production costs, gives the definition to production costs. The study shows that the concept of cost can be defined from two perspectives: company cost and production cost. Company cost refers to the cost ofproduction stocks, suppliers, and cost related with overall company activities. Company cost is, therefore, the cost that is fixed in its balance sheet and capable to generate income in future. Production cost is the cost of the part of company resources, spent for production purposes. The concept of “company cost” is, therefore, a broader one than “production cost”. Analysis of approaches to definition of the concept “production cost” by contemporary economists shows that unlike their predecessors they tend to interpret the cost from practical rather than theoretical perspective: as a component ofprice, formed by the impact of the market factors on the basis of change in demand and supply