Contemporary cost calculations in mechanical engineering companies: evidence from the Slovak Republic and the Czech Republic

Purpose. The aim is to evaluate comparatively the use of costing methods in companies in the mechanical engineering sector in the Slovak Republic and the Czech Republic. On the basis of the findings, we assess the suitability of using different types of costing methods in the mechanical engineering industry.
Methodology. For statistical analysis we used the Chi-Squared Test, the Chi-Squared Data Distribution Test, the Wilcoxon Pair Test, and the Mann-Whitney U-test.
Results. We find that most of the businesses analysed use the traditional costing method. The ABC method is also represented, especially in medium and large companies. Finally, we wonder whether the current coronavirus crisis is an opportunity for change in this area.
The theoretical and practical contribution. The findings and conclusions can be understood and applied generally, also in other European countries.