Construction Cost Accounting is a type of accounting system that provides businesses involved in construction projects with the necessary tools and records needed to measure, analyze, and control costs associated with their work. It allows construction companies to keep track of all the different components of their project, including labor, equipment, supplies, and other expenses. Construction Cost Accounting also helps companies better budget their projects and ensure profitability by examining detailed cost reports and making adjustments where necessary. By having an efficient Construction Cost Accounting system in place, businesses can make better-informed decisions during their projects, helping them stay on track and profitable.