The major problem in cost accounting is allocation of common and joint costs to individual products.
Following are major categories of accounting: 1 - Cost accounting 2- Financial accounting 3 - management accounting
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.
Cost accounting is a subset of management accounting, although the two are used interchangeably.
compare and contrast cost accounting and financial 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.
Following are major categories of accounting: 1 - Cost accounting 2- Financial accounting 3 - management accounting
cost accounting is used instead of financial accounting because cost accounting is used to determine the cost of the good produced
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.
answer
Cost accounting is a subset of management accounting, although the two are used interchangeably.
compare and contrast cost accounting and financial 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 various classification of cost accounting?
Nicholas Dopuch has written: 'Solutions manual for Cost accounting' -- subject(s): Cost accounting 'Cost accounting' -- subject(s): Cost accounting
the difference between income derived from the viewpoint of maintaining financial capital (as in historical cost accounting) and income derived from a system of ensuring that physical capital
What are the function and responsiblity of Cost Accounting
what are the various classification of cost accounting?