Cost control and cost reduction are the two main terms in cost accouting.
Cost Reduction:
It is a continuous process pf critical cost examination, analysis and discharge of standards. Each subject of business like product, process, procedures, methods, personnels etc. are critically examine and reviewed with a view of improving with an efficiency, effectivness and reducing the cost.
Cost Control:
It is operated through setting standards or targets and comparing actual performance deviation. From standards or norms taking corrective actions or measures in order to ensure future performance related to standard or norms.