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Alternative Approaches to Business Cost Management in the Slovak Republic

Table 1:

Cost concept Financial Value Economic
relation to the accounting system financial accounting cost accounting management accounting
relation to the displayed reality display the transaction in the parameters that was valid before its execution display the transaction in the parameters that would currently apply Display the transaction by comparing it with another relevant variation (alternative)
relationship to profit profit is measured on the principle of nominal preservation of capital, i.e. the company achieves a profit if its own - the financially expressed capital at the end of the period is higher than at the beginning of the period profit is measured on the principle of material retention of capital, i.e., an enterprise generates profit after the reproduction of own capital, which is measured and valued by the production capacity or business capacity profit is measured on the principle of material retention of capital, so its level being further reduced by the opportunity costs and by potentially increasing revenues.
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