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  Cost Accounting: Definition and Types with Examples Every business has to make expenses for their different business activities, it is very important to keep track of the expenses, then they will know their funds. So, every expense of the business can be kept on track with the use of cost accounting. When a business will know how much it is cost to make products and provide services, then it can divide its prices accordingly so that it can make a profit. Through the process of cost accounting, it will be helpful for the business to keep track of the profit that is made through any individual product or service. So, this will be helpful for businesses to decide which products to keep offering and which products to stop offering. Cost accounting is a very important tool for the business organization through which they can manage their finances and can take important strategic decisions. You have to build your skills in cost accounting to manage all these activities of a business. Y...