MODERNIZATION OF BUDGETING AND COST ESTIMATION SYSTEM IN INDUSTRIAL ENTERPRISES (A CASE STUDY OF JSC "QIZILQUMSEMENT")

Under conditions of intensifying market competition and economic reforms, the financial stability of large industrial entities depends on the flexibility of resource planning and cost estimation mechanisms. This article analyzes the financial performance of JSC "Qizilqumsement", one of the major representatives of the country's cement industry, for the first quarter of 2026, focusing on its generated net loss of UZS 32.8 billion. Grounded in the tasks set out in Order No. F59 of the President of the Republic of Uzbekistan concerning the reduction of production costs and increasing efficiency in state enterprises, the traditional static estimate system retained at the enterprise is comprehensively examined. To address and resolve this problem, a hybrid budgeting model based on the "High-Low Method" of management accounting is proposed for practical implementation.