FinanceCost Accounting
Cost accounting is a branch of finance that focuses on analyzing, recording, and tracking a company's costs. It involves evaluating all expenses incurred in the production of goods or services, including direct costs (such as materials and labor) and indirect costs (such as overhead). Cost accountants use various methods to allocate costs to products, services, departments, or projects to help management make informed decisions about pricing, budgeting, and resource allocation. They also play a crucial role in identifying cost-saving opportunities and improving operational efficiency within an organization.
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