Cost Accounting Systems

Please respond to the following discussion question by replying to this thread.  Your response should fully address all elements of the question and be a minimum of 200 to 300 words long.

What is a cost accounting system?  Why is a cost accounting system important for a business?  A business without a cost accounting system cannot effectively manage its operations.  Give an example of how a company you are familiar with costs its products or services. 

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