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Planning Social Expenses by Product Life Cycle Stages


  • Ludmyla Shvets

    () (Ternopil National Economic University)


Social spending is among the components of the total cost of every unit produced. Their planning and valuation is appropriate for the purpose of reaching the maximum social effect against the minimum costs of the business resources. For estimation of social costs as well as for defining their internal structure, the Article suggests keeping records and planning social costs by the product life cycle stages. According to the author, the proposed method of cost planning will make it possible to collect information of financial load on each stage of product making and movement while structuring the costs of different purpose. Another advantage of this method is to contribute to the harmonization of economic and social priorities of the enterprise based on the correlation between spending and social-oriented activities, social effect and economic benefits. In addition to the pointing out particular elements of social spending, it has been proposed to determine the economic value-added cost of social-valued product. Owing to this, as the author believes, it will be possible to evaluate the effectiveness of social product implementation in manufacturing process and its realization.

Suggested Citation

  • Ludmyla Shvets, 2013. "Planning Social Expenses by Product Life Cycle Stages," Accounting and Finance, Institute of Accounting and Finance, issue 3, pages 149-154, September.
  • Handle: RePEc:iaf:journl:y:2013:i:3:p:149-154

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    More about this item


    product life cycle; social spending; business social responsibility; social-valued product; externals; internals;

    JEL classification:

    • M30 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - General


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