What is the purpose of cost accounting?



What is the purpose of cost accounting?..

Answer / Phurba Bhutia

The purpose of cost accounting is to provide accurate and detailed information about a business's costs and financial performance. It helps organizations track, analyze, and allocate costs associated with production, sales, services, and administrative activities.nCost accounting is essential for decision-making at various levels within an organization, including budgeting, pricing strategies, inventory management, and process improvement.

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