What is the primary function of cost accounting in public works management?

The primary function of cost accounting in public works management is to account for funds expended by each activity. This process allows public works managers to track and analyze the costs associated with various projects and activities within their departments. By accurately recording expenses, managers can ensure that budget allocations are being utilized effectively, identify cost overruns, and make informed decisions about future projects or resource allocations.

Thorough cost accounting aids in assessing financial health and operational efficiency, which is essential for maintaining transparency and accountability in public sector operations. It also provides the necessary data to justify funding requests and helps in the evaluation of the overall financial performance of different public works initiatives.