The BC has to do with how easily the bullet will slip through the air. The lower BC bullets will shed speed more quickly because of the increased air resistance. This slowing down of course affects trajectory and downrange energy.It has nothing to do with accuracy. just drop, wind drift etc.
Lets say two bullets are of the same caliber and weight, the one with the higher BC will have less drop, wind drift, and more retained energy. this becomes more recognizable the farther the bullet travels from the muzzle. It is a calculation of bullet length, mass, cross sectional area, density, and drag coefficient.
All of this does not make a difference when shots are out to 300 yards or less.
Makes a huge difference for the Long Range guys that shoot out to 1000 yards.