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What are the main different between Financial accounting and Cost accounting?
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Differences and similarities between managerial accounting and Financial Accounting?
* Cost accounting relies on financial accounting information (unbiased, support material) * both are concerned with responsibility or stewardship to the organization: financial accounting has responsibility to the whole company while cost accounting is concerned with responsibility for parts (costs and revenues) * Both require accounting information that must be relevant, timely, and accurate.
What is difference between financial ac and cost ac?
I believe the intended question was "What is the difference between financial accounting and cost accounting?" The question makes no sense in the categories of electrical and electronics engineering. And so I have added the category of Business to the topic.The difference between the two types of accounting:Financial Accounting's goal is for preparing financial statements for use by parties outside of a company's management. The statements that are prepared for stockholders and investors, regulators, analysts and other outside parties present the external view of a company according to established and accepted standards. One of these is known as GAAP, Generally Accepted Accounting Procedures.Cost Accounting is subcategory of Managerial Accounting which deals with the internal management of the company. Each company's managers may have different needs and so each company may have somewhat different practices for Management Accounting. Cost Accounting deals with the planning and tracking of the costs of operating the company. The needs will vary between kinds of companies. A manufacturer must deal with costs of raw materials and parts, whereas a bank does not need to deal with costs at such a granular level.
What is the similarities between job costing and contract costing?
1. Undertaking to customer's special requirements. 2. Relatively long duration 3. Site based, sometimes overseas 4. Frequently of a constructional nature
What do you mean by elements of cost and explain the different elements of total cost of a manufacturing process?
Pls contact Baduwa for the answer. (MN 304 -financial accounting- Assignment 2) Madubashana Senerath(Baduwa) senerathsms@gmail.com 0773668182 Dept of Chemical & Process Engineering University of Moratuwa Pls. Oba kowday ma nodanime... Ekman piluturak apeksha karami... Meeta sadadara baduwa
How much is basic cable?
The cost of basic cable varies between different companies. As of 2014, the average cost of basic cable is between $15 and $20.
What is the different between cost accounting and financial accounting?
the question am asking have not been answered .because financial accounting and cost accounting is not the same nor even having the same answer .
What is different between cost accounting and financial accout?
Cost accounting deals with calculating the per unit cost of unit of product while financial accounting deals with reporting of financial performance of the busines
Compare and contrast between cost accounting and financial accounting?
compare and contrast cost accounting and financial accounting
What are the different fields of accountung?
1- Cost Accounting 2 - Financial Accounting 3 - Management Accounting
What are the difference between cost accounting and financial accounting?
Prime role of cost accounting is to calculate the cost per unit of product produce while financial accounting deals with financial reporting of company's performance.
How does cost accounting relates to management accounting and financial accounting?
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.
What is the difference between cost accounting and financial accounting and what is the different between cost accounting and management accounting?
Cost accounting and managerial accounting are really the same thing. The key difference between managerial/cost and financial accounting is that managerial accounting information is aimed at helping managers within the organization make decisions. In contrast, financial accounting is aimed at providing information to parties outside the organization. cost is the amount of the expenditure. In cost accounting we can find cost of goods and services. financial accouts shows the profit and loss and balance sheet made during an accounting period, and also financial position of the business as on a particular date. cost accouting provides the management detailed information regarding cost of each product, services etc. Cost Accounting focuses on the costs of production and inventory valuations. Management Accounting produces internal financial reports and analysis prepared in such a way to assist managers in making decisions (such as expense reduction, capital investment, etc.). Financial Accounting produces financial reports in accordance with GAAP and legal guidelines and would generally be the format which is distributed externally for banks, investors, etc.
What are the differences between direct cost and indirect cost in management accounting.?
what are the differences between direct cost and indirect cost in financial accounting
Distinguish between cost accounting and financial accounting?
Financial accounting is the process of preparing financial statements using data and figures. Cost accounting is similar but you look for alternative ways to figure these figures and data.
What are the branches of accounting?
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)
What are the different of branches?
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)
What are different branches of?
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)
