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Cost accounting is the branch of accounting that focuses on analyzing, recording, and reporting costs associated with a business's operations. It involves identifying, measuring, and allocating costs to products, services, or activities within an organization. Cost accountants use various methods, such as job costing, process costing, and activity-based costing, to help management make informed decisions about pricing, budgeting, and resource allocation. The goal of cost accounting is to provide accurate and timely information to help businesses control costs and improve profitability.