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Cost accounting is a branch of accounting that focuses on the recording, analysis, and reporting of costs associated with the production of goods or services within an organization. It involves tracking and monitoring expenses, such as raw materials, labor, and overhead costs, to determine the total cost of producing a product or providing a service. Cost accountants use various methods and techniques to allocate costs to products or services, such as job costing, process costing, and activity-based costing. The information provided by cost accounting helps management make informed decisions regarding pricing, budgeting, and resource allocation.