Material Flow Cost Accounting: Analysis & Applications

This lecture introduces Material Flow Cost Accounting (MFCA) as a tool to link monetary and material flows at the activity level, applying the standard to industry examples like steel and the chemical sector. It covers the benefits of MFCA, including increasing profit, improving productivity, and reducing environmental impacts. The lecture delves into the monetary and material statements, explaining how they detail a company's revenues, expenses, gains, and losses. It also explores the international standard ISO 14051 and the aim of MFCA to quantify the real costs of material and other losses. Practical examples and matrices are used to illustrate the concepts, emphasizing the importance of cost allocation and the analysis of material flows for resource consumption practices.