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Cost control cost accounting refers to the process of managing and monitoring the costs associated with a business or organization in order to maximize efficiency and profitability. This includes analyzing expenses, identifying areas where costs can be reduced or controlled, and implementing strategies to achieve financial goals. Cost control cost accounting involves tracking expenses, budgeting, forecasting, and evaluating the financial performance of a company to ensure that resources are being used effectively and efficiently. By effectively managing costs, businesses can improve their bottom line and remain competitive in the marketplace.