compare and contrast cost accounting and financial accounting
Financial accounting is used to present the performance and financial statements to third parties while management accounting is used for company's internal working purpose.
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.
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.
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.
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.
Define 'Accounting' Distinguish between Financial Accounting and Management Accounting
compare and contrast between triangles and a trapezoid
what is the relationships between statistics and accounting
Financial accounting is used to present the performance and financial statements to third parties while management accounting is used for company's internal working purpose.
compare and contrast mean the equalities and differences between what you are comparing and contrasting.
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.
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.
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.
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.
do you have best answer from FA
the question am asking have not been answered .because financial accounting and cost accounting is not the same nor even having the same answer .
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.