The Influence of the Cost Management System on the Business Indicators of SMEs
(Pages 484-490)Abdullah Abdurhman Alakkas1, Adeeb Alhebry2, Hamad Alhumoudi3, Ebrahim Mohammed Al Matari4* and Imran Ahmad Khan5*
1Assistant Professor, Department of Accountancy, College of Administrative and Financial Sciences, Saudi Electronic University, Riyadh, Saudi Arabia.
2Accounting Program, Applied College, King Khalid University, Kingdom of Saudi Arabia and Ibb University, Yemen.
3Assistant Professor, Department of Accountancy, College of Administrative and Financial Sciences, Saudi Electronic University, Riyadh, Saudi Arabia.
4Department of Accounting, College of Business, Jouf University, Kingdom of Saudi Arabia and Faculty of Commerce and Economics, Amran University, Amran, Yemen.
5Consultant, Pacelile Corporate Consulting, India.
DOI: https://doi.org/10.55365/1923.x2023.21.49
Abstract:
Companies require a Cost Management System adapted to their individual needs, to efficiently fulfill their goals. Unfortunately, due to their economic and technological shortcomings, SMEs are less likely than large enterprises to install those systems, causing them to focus on enhancing their output and overlook the need for CMS deployment. However, the importance of SMEs particularly in rising economies necessitates research tools and techniques to ensure their optimal development. The goal of this study is to evaluate the extent to which CMS is used by SMEs in emerging economies, such as India, and to define the impact of CMS on company KPIs such as sustained economic growth, profitability, sales, and profit margins. Contingency and correlation tables were used to evaluate a sample of Indian companies. The findings revealed that the cost management system has a positive and significant impact on the business indicators of sustained growth, profitability, and sales growth of SMEs.
Keywords:
Sustained growth, Cost management system, SMEs, correlation analysis, Profit margins.
How to Cite:
Abdullah Abdurhman Alakkas, Adeeb Alhebry, Hamad Alhumoudi, Ebrahim Mohammed Al Matari and Imran Ahmad Khan. The Influence of the Cost Management System on the Business Indicators of SMEs. [ref]: vol.21.2023. available at: https://refpress.org/ref-vol21-a49/
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