What is cost accounting explain its objectives and advantages?

Question: What is cost accounting explain its objectives and advantages?

Cost accounting is a process of recording, analyzing, and classifying all costs incurred in a business to provide management with relevant information for decision-making. Its objectives are to determine the cost of products or services, control costs, and provide information for planning, controlling, and evaluating business operations. The advantages of cost accounting include improved cost control, better decision-making, enhanced profitability, and the ability to identify inefficiencies and cost-saving opportunities.

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