A Review on Material Flow Cost Accounting (MFCA) for SMEs

Authors

  • Alok Shah Mechanical Departmemt, Shri S’ad Vidya Mandal Institute of Technology (Bharuch)
  • David Jacob Mechanical Departmemt, Shri S’ad Vidya Mandal Institute of Technology (Bharuch)
  • Deep Desai Mechanical Departmemt, Shri S’ad Vidya Mandal Institute of Technology (Bharuch)
  • Dhruvrajsinh Atodaria Mechanical Departmemt, Shri S’ad Vidya Mandal Institute of Technology (Bharuch)
  • Prof. Bhavesh Modi Mechanical Departmemt, Shri S’ad Vidya Mandal Institute of Technology (Bharuch)

Keywords:

Material Flow Cost Accounting, Environmental Performance, Waste Generation, Waste Reduction, Material and Energy

Abstract

The main goal of this review paper is to explain the concept and procedure of MFCA as concerning a
manufacturing company. The idea of MFCA is to contribute to the sustainable and complete development of an
organization. Early findings suggest that the MFCA offer great potential for improvement in economic and
environmental performance and therefore, it is recommended for manufacturing firms to proactively adopt it to
achieve the sustainable development. Accordingly, examples of SMEs are taken into account. A comparison of
company strategy has been given both before and after implementing MFCA. This helps in the following ways:
(i) Cause of waste generation and its amount; (ii) Costs of wastes and ways to reduce them. It saves essential
company assets while also reducing the organizations’ negative environmental impact as material and energy
saved can be used again for further purposes, thus reducing the load on the environment to sustain these
organizations.

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Published

2017-03-25

How to Cite

Alok Shah, David Jacob, Deep Desai, Dhruvrajsinh Atodaria, & Prof. Bhavesh Modi. (2017). A Review on Material Flow Cost Accounting (MFCA) for SMEs. International Journal of Advance Research in Engineering, Science & Technology, 4(3), 502–507. Retrieved from https://ijarest.org/index.php/ijarest/article/view/995

Issue

Vol. 4 No. 3 (2017): Volume: 04, Issue: 03 - March, 2017.

Section

Articles