Cost accounting differs from financial accounting in that financial accounting: is mostly concerned with external financial reporting. is mostly concerned with individual departments of the company.
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cost accounting helps in decision making financial accounting aim at increasing shareholders wealth and report the same.
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cost accounting is mainly help to ascertain the cost of products and it give us information only related to production . in that case financial accounting is also different from cost accounting because it give the information about financial position and strength and weakness of the company and the investor is interested to see the position of company before invest. in that it give the financial report to others who interested in company I.e inverter , creditors, government, etc .
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