Cost Accounting

Cost accounting is a branch of accounting that focuses on tracking, analyzing, and controlling the costs associated with producing goods or services. It helps businesses understand how much it costs to create products by examining expenses like materials, labor, and overhead. By analyzing these costs, companies can make informed decisions about pricing, budgeting, and financial planning, ultimately enhancing profitability and efficiency. Essentially, cost accounting provides detailed insights that enable organizations to manage their resources better and improve financial performance.