What is cost accounting: Guide to what is Cost Accounting

Guide to what is Cost Accounting. We explain its advantages, types, functions, difference with financial accounting along with examples. Learn what cost accounting is, how it differs from costing and cost accountancy, and what are its main objectives and functions. Find out the evolution, nature, importance, requisites, advantages and disadvantages of cost accounting. Cost accounting is a branch of accounting that focuses on the systematic recording, classification, allocation, and analysis of costs associated with the production of goods or services within an organization. It provides detailed information about costs, which helps in decision-making, cost control, and overall management of business operations. What Is Cost Accounting? Cost accounting is a branch of financial management that helps organizations track and assess expenses incurred to create products or deliver services.