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Role of a cost accountant in service industry?
business accounting
What is the difference between cost and managerial accounting?
The key difference between managerial 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. Improvement: Cost account is a major area of managerial accounting. Cost is also a internal Issue.
What are the accounting documents?
Accounting documents are documents that track the movement of cost and money in an organization. Budgets, balance sheets and the income statement are all accounting documents.
What component of accounting classification identifies the responsible organization or who is incurring the cost?
Rc/cc
The component of an accounting classification identifies the responsible organization of who is incurring the cost?
Rc/cc
What component of an accounting classification identifies the responsible organization or who is incurring the cost?
Rc/cc
Is cost accounting desirable in organization why?
Cost accounting is very much desirable in an organization. The reason for this is because every penny needs to be accounted for when a person is running a business. This is especially true if a person has an account open that has money going through it.
What role of cost accounting in manufacturing organization?
cost accounting plays very important role in manufacturing organisation.unless cost accounting system one can't get the cost of the product appropriately.Many organisations fix their selling price based on the cost information.Not only in ascertaining cost of the product it can be used as measurement for their performance
What is Managerial accounting?
Managerial accounting is different to financial accounting because it is the one called cost accounting. It is the process in which it is needed to identify, measure, analyze, interpret and communicate with information to pursue the goals of an organization.
What factors hinder effective implementation of accounting information system in an organization?
Cost managment performance
What concept is the most basic concept to accounting?
idea is more basic to accounting than the accounting unit or entity, a term used to identify the organization for which the accounting service is to be provided and whose accounting or other information is to be analyzed, accumulated, and reported.
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.
