Critical Analysis of the Cost Calculation System Used in Iron and Steel Industry in Libya

Phased calculation method applied by industrial enterprises with mass production as in the case of companies in the iron and steel industry, characterized by a simple technological process, conducted in successive stages of processing raw materials and materials from which finished product is resulted. Despite the advantages offered, the phases method has several disadvantages indisputable that require improvement of cost calculation in the iron and steel industry enterprises. This paper aims at presenting the inconvenience that the phase method involves and providing solutions for improvement