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What is cost accounting? Relationship between Cost&Management accounting

Hoping this tutorial helps the viewers to understand the answers to the following questions at a very basic level.

What is cost accounting?
What is cost accounting system?
What is cost accounting definition?
What is the difference between cost accounting and Financial Accounting?
What is the relationship between cost accounting and financial accounting?
What is the relationship between cost accounting and management accounting?
What is cost?
What is Accounting?
What are the types of Accounting?

This tutorial has explained the cost accounting on one side while on the other side also discuss the other two branches of accounting that is financial accounting and management accounting. Financial accounting is being exercised for external reporting while cost accounting has been done for internal reporting as base for management accounting. External reporting is for stakeholders, and the stakeholders are Government, investors, customers, vendors, and employees, financial institutions and so on which have different interest as per their objectives.
Cost accounting means accounting for all costs? then next question will be what is cost? cost is expenditure or expense incurred.
expenditure for what? expenditures to produce goods or service.
Cost accounting is being practiced by companies for the following two purposes:
cost accumulation and
Measuring value of the produced unit of article or service.
who is responsible for accumulation and valuation? Central body or central management is responsible for both purpose of the cost accounting along with information fed by financial accounting too.
The only objective of the central management of conducting this exercise is to maximize the shareholders wealth.

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