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Cost accounting is a systematic process of recording, classifying, analyzing, summarizing, and reporting on costs associated with a business's operations. It involves the application of management accounting principles and techniques to identify, measure, and control costs in order to improve profitability and efficiency. Cost accounting can be used to inform financial planning by providing insights into the cost structure of a business, helping to forecast future expenses and revenue. It is also an essential tool for brand strategy, as it allows companies to understand the costs associated with different aspects of their brand, such as marketing campaigns, product development, and customer service. By accurately measuring and analyzing costs, businesses can make more informed decisions about how to allocate resources, price products and services, and optimize operations.