This discussion will help you with your critical thinking as you begin working on your portfolio project. Use the information you learned about essential questions in A$$CT$110$ and ACCT$120$ to help you respond to the following:

$-$What is cost accounting?

Cost accounting is a procedure to monitor and inspect a company's fees in producing their product or service. This is information that assists with giving fundamental guidance on how the business will spend their money. When a business knows how to smartly finance the funds of the business; they can then determine how to improve the productivity of the business to grow even more funds.

How is cost accounting used by companies?

Once you have addressed these questions, create two essential questions of your own that you think will help you with the foundation of your project. Briefly discuss how your questions will guide the development of this project.