Development of Accounting and Cost Management System for Community Products of Wat Sai Rama 3, Bangkok

Abstract

This study aims to 1) examine the accounting practices of the Wat Sai community,
2) develop guidelines for product cost management, and 3) determine appropriate selling prices and profit planning. The study used purposive sampling, selecting 7 members from the Wat Sai Lovers Club. The research tool was a semi-structured in-depth interview. Data analysis was conducted using content analysis. The study of the Wat Sai community's accounting practices revealed that the community's accounting was not systematic, lacking income-expense records, inaccurate production cost calculations according to accounting principles, lack of inventory management, pricing based on market rates, and lack of sales/revenue planning. The study on developing product cost management guidelines found that the development approach consists of 1) systematically preparing accounting documentation, 2) surveying raw material/packaging prices, creating material cards and control registers to reflect actual costs in calculations,
3) collecting cost data, calculating unit costs, determining profit margins, setting selling prices, forecasting sales, and monitoring actual sales/revenue. Determining selling prices and profit planning resulted in the cost of brownie products increasing from 14.40 baht to 22.71 baht. The study on determining appropriate selling prices and profit planning found that a new selling price of 39.43 baht should be set, as the original cost did not include labor costs, causing the actual costs to be lower than reality.