ENHANCING COST REPORTING METHODS IN COST ACCOUNTING FOR ENTERPRISES IN UZBEKISTAN

Abstract

This study addresses the critical need for improved cost reporting methods in cost accounting within Uzbek enterprises, particularly in the context of increasing global competition and the rapid globalization of the world economy. While accurate product cost reporting is widely recognized as essential for managerial decision-making, Uzbekistan still faces a significant knowledge and practice gap in the development and adoption of standardized cost reporting formats. This gap results in inefficiencies, reduced transparency, and limited opportunities for enterprises to compete effectively on both domestic and international markets.The research employs a combination of dialectical methods, systematic analysis, and comparative approaches to develop both methodological and theoretical frameworks for cost accounting. Primary attention is given to aligning local practices with international standards by introducing modern costing systems and proposing new structured formats for product cost reporting. These recommendations are designed to improve the reliability, accuracy, and usefulness of cost information, ensuring that managers have access to timely data for decision-making. The findings reveal that the absence of a standardized cost reporting format not only complicates internal cost management but also hinders the ability of enterprises to plan strategically. By enhancing cost reporting practices, this study contributes to better resource allocation, stronger cost control mechanisms, and overall economic efficiency. Moreover, the results provide a foundation for future academic research and policy development, highlighting the importance of integrating innovative accounting practices into Uzbekistan’s economic reforms.