Development of a model for analyzing statistics of the organization’s expenses as a tool for sustainable development

• Main Authors: Bank, Sergey, Berdnikova, Leyla, Borovitskaya, Marina, Mikhalenok, Natalya
• Format: Conference Proceeding
• Language: English
• Subjects: Axioms; Costs; Economic development; Impact analysis; Optimization; Statistics; Sustainable development
• ISSN: 0094-243X; 1551-7616
• DOI: 10.1063/5.0109795

The main task of any business entity is the rational consumption of resources. This is due to their limitation and significant impact on the sustainable development of the company. The problems of economic development are closely interconnected with economic axioms: the needs of society are unlimited, resources have their own limitations. The limitation of resources leads to the need to choose the production of products based on the available production factors and the possibilities of their alternative use. The activities of any organization involves the emergence of certain costs. Nowadays, finding ways to optimize costs and increase profits is becoming an important task. Cost optimization is characterized by the ability to save resources and maximize their return. Optimization of expenses in order to increase the sustainable development of an organization is a whole complex of measures, including: establishing the relationship between cost management and budgetary management, identifying promising directions for reducing costs, developing an action plan to optimize them. The article substantiates the need to assess the statistics of costs in order to find directions for their optimization and profit growth. A model for analyzing statistics of the organization’s expenses as a tool for sustainable development has been developed. The results obtained have been tested to improve sustainable development using the example of commercial organizations.