Improving the Analysis of Production Costs and Cost in Business and Small Business Activities

This article researches the current situation with regard to production cost analysis in Uzbekistan enterprises, paying special attention to small ones, and then goes on to provide better methodologies of conducting effective cost management. The study, through a careful review of related literature and analysis of the current practices, identifies main challenges and opportunities regarding enhancement of various cost analysis techniques. It provides a framework for using advanced cost accounting methods, adapted to the environment of the Uzbek business. It has also been indicated that the wider adoption of more advanced tools of cost analysis can result in substantial improvement in the decision-making process as well as general financial results of organizations operating in the Republic of Uzbekistan.