Cost AccountingManagement Accounting
Cost accounting, also known as management accounting, is a branch of accounting that focuses on analyzing, recording, and reporting financial information related to the costs of producing goods and services within an organization. It involves the calculation and allocation of expenses, monitoring of budget variances, and providing insights to help management make informed business decisions. Cost accounting helps in determining the cost efficiency and profitability of products, departments, and projects, as well as in assessing the overall financial health of the organization. It plays a crucial role in strategic planning, performance evaluation, and resource allocation within a company.
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