Mass accretion onto compact objects like GBHS, NS and WD provides a platform to study the dynamics of material, structure and various physical processes. Here I show that the cross-correlation method is a potential tool to investigate and constrain the inner region of the accretion disk. The anti-correlated lags between two energy bands along with spectral studies can constrain the truncation accretion disk scenario in galactic black hole sources as well as in neutron star binary systems. We favour a geometry of accretion disk in which the soft photons are arriving from the Keprlerian disk and hard photons are originating from Compton cloud which is observed to be close to the central source. Such geometrical picture can consistently explain the lags, spectral changes along with rapid dynamical changes like QPOs. In case of Magnetic CV, anti-correlated lags can rigid the idea of blob accretion model which is often used to explain the excess soft X-ray spectral component in polars.