Cost Accounting: a Comparative Study of Best Practices in Higher Education

Abstract

The article investigates university cost accounting in the Republic of Moldova (RM), highlighting the need to adopt internationally recognised practices to strengthen financial sustainability and transparency. The research goal is to compare the cost-accounting system used in Moldovan public higher-education institutions (HEI) with a range of established international models. The study relies on a qualitative analysis of national legislation, benchmark international reports and specialised academic literature, supported by comparative investigation. The findings reveal the current system’s limitations: the absence of a unified methodological framework, limited professional competences in cost accounting, and inadequate digital analytic platforms – all of which prevent management based on real, decision-relevant costs. Drawing on comparative analysis and case studies, the authors propose a phased approach for implementing a modern cost-accounting system in Moldovan universities. Cost-accounting reform is presented not merely as a technical adjustment but as an essential condition for greater transparency, budget efficiency and institutional responsiveness in a rapidly changing educational environment. Adopting international best practice is therefore crucial to modernising university management and consolidating financial autonomy in RM. UDC: 657.47:378(478); JEL: I23, I28, M41, L32