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Cost accounting is a process of collecting, recording, classifying, analyzing, summarizing, allocating and evaluating various alternative courses of action & control of costs. Its goal
Cost accounting is a process of collecting, recording, classifying, analyzing, summarizing, allocating and evaluating various alternative courses of action & control of costs. Its goal is to advise the management on the most appropriate course of action based on cost efficiency and capability. The expanded use of cost accounting will be critical to provide detailed cost information that management needs to control current operations and support strategic decisions of the organization going forward.
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