It concludes that cost accounting supports planning, resource management, efficiency, cost reduction, and profitability. Unlike financial accounting, which focuses on reporting financial performance to external users as cost accounting is mainly utilise by managers for internal directing and planning. Direct Costs: Costs that can be directly assigned to a product or providing service. Indirect Costs: Costs that cannot be directly link to a single product such as electricity and factory maintenance. Disadvantage of Cost AccountingDespite its pros, cost accounting has certain drawback :It can be highly- priced to implement.