Using the Category of Opportunity Costs in Management Accounting and Assessing the Results of Agricultural Production

Introduction. In a market economy, one of the most important parameters in developing and making management decisions is production costs, which determine the amount of profit, the level of prices for products and other indicators. In cost accounting for agricultural organizations, the practice of traditional calculation based on explicit costs remains, which is not enough for an objective assessment of performance results. The introduction and use of opportunity costs category in management accounting is a necessary prerequisite for obtaining complete and reliable information about costs. Purpose. Justification of the sequence of calculation of implicit costs in the management accounting system of crop production and directions of use of the information received. Methods. When studying the features of production accounting in agriculture, justifying opportunity costs, their calculation and analysis using the example of an organization in the Rostov region, general scientific methods and special accounting methods were used. Results. It is substantiated that, among the possible elements of opportunity costs (rent, business income, interest on capital), in agricultural organizations of a collective nature requires to take into account the interest on equity capital. An algorithm for its calculation in the management accounting system was developed. Using the example of a specific agricultural organization, the cost of production of winter wheat was calculated, taking into account the implicit component according to the proposed algorithm. A comparison was made of actual and estimated cost indicators, financial results, and profitability. Conclusion. Economic production costs exceed traditionally accounted costs by the amount of the implicit component. The calculation of opportunity costs in management accounting allows for a wider use of accounting information when making management decisions.