Define 'Accounting' Distinguish between Financial Accounting and Management Accounting
Management accounting starts where financial accounting ends
Cost accounting is a subset of management accounting, although the two are used interchangeably.
Management accounting gathered data or information from cost accounting and financial accounting. After that, it analyzes and interprets the data to prepare reports and provide necessary information to the management.
Management accounting includes both financial and cost accounting, tax planning and tax accounting. Cost accounting, on the other hand, does not include financial accounting, tax planning and tax accounting.
What is Dintinguish Management?
Management accounting or managerial accounting is concerned with the provisions and use of accounting information to managers within organizations, ...
Following are different branches of accounting:1- Cost Accounting2- Financial Accounting3- Management Accountingbranches of accounting are two:1-financial accounting2-management accounting(cost a/c & managerial a/c)
cost accounting provides the basic information for both management and financial accounting.The similarities between government accounting and financial accounting is that both involves the balance of accounts.
1 - Cost accounting 2 - Financial accounting 3 - Management accounting
Following are major categories of accounting: 1 - Cost accounting 2- Financial accounting 3 - management accounting
1. Financial Accounting 2. Cost Accounting 3. Management Accounting 4. Social Accounting 5. Human Resource Accounting 6. National Accounting