The advancement of technology is changing production conditions and business structure. It requires numerous new costs and investments in company's automation. As the production process changes, accounting becomes more complex. Due to the rapid change and the increasing demands of management, there is a need to introduce new modern cost management methods because traditional, classic methods are outdated. Modern methods more accurately represent the allocation of costs to cost carriers. In this way, the management manages the company better and more successfully because the have the answer to the key question of what the real costs really are. The aim of this paper is to show the similarities and difference of cost management methods. Explain in more detail which method it serves, which makes one method better than another. It will also show the chronology, that is, the use of methods from its beginnings where it began to be used until today, we used the historical method for chronological presentation. Furthermore, the basic method used in writing this paper was the method of descriptiveness, in describing terms such as cost, classification of costs, expenses, expenditures, etc. The management function that plays the most important role in cost management will me mentioned. In addition to the descriptive method, we will also provide a comparative method by which we have listed the similarities and differences between 8 methods used and used today to manage enterprise costs.