Cost accounting by sohail afzal

What is the conclusion of cost accounting?
Conclusion.
Cost accounting is a system of recording and analyzing the cost of products or services in order to contribute towards strategic planning and improve cost efficiency.
It's important for many parties involved in a business, including management, employees, and consumers..
In accounting, the term cost refers to the monetary value of expenditures for services, supplies, raw materials, labor, products, equipment, etc.
Cost is an amount that is recorded in bookkeeping records as an expense.
What Is the Purpose of Cost Accounting? Cost accounting helps organizations evaluate the costs associated with manufacturing a product or providing a service.
While the process itself requires a considerable level of detail and time, the strategic insights gained make it a worthwhile endeavor for most any organization.

What is the conclusion of cost accounting?