Question

Cost accounting contrasts financial accounting in respect of

Answer 1

Conversely, Financial Accounting records only historical costs. Users of Cost Accounting is limited to internal management of the entity, whereas users of Financial Accounting are internal as well as external parties. Cost Accounting information determines profit related to a particular product, job or process.

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Answer 2

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Conversely, Financial Accounting records only historical costs. Users of Cost Accounting is limited to internal management of the entity, whereas users of Financial Accounting are internal as well as external parties. Cost Accounting information determines profit related to a particular product, job or process.