Project Cost Accounting

Project Cost Accounting is a financial management practice that tracks and analyzes the costs associated with specific projects. It involves recording all expenses, such as labor, materials, and overhead, to determine the total cost of a project. This helps organizations budget effectively, monitor spending, and assess profitability. By providing detailed insights into where money is being spent and how it aligns with the project's goals, it aids in making informed decisions and ensuring projects stay on track financially. Ultimately, it supports better planning and resource allocation for future projects.