The basis objective of cost accounting is to ascertain the cost of a product, job or service. Expenses relating to a product are collected from diverse sources. In addition to direct expenses relating to a product, joint expenses pertaining to several products are also taken into consideration while ascertaining the cost of a product. The primary objectives of cost accounting is ascerrtainment of cost. It is done through the methods and techniques of costing. Costing is the process of collection, classification and analysis of costs or expenses.