Difference between management accounting financial accounting and cost accounting in tabular form
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⏩ Cost Accounting refers to that branch of accounting which deals with costs incurred in the production of units of an organization. On the other hand, financial accounting refers to the accounting concerned with recording financial data of an organization, in order to exhibit exact position of the business. The recording, classifying and summarising of cost data of an organisation is known as cost accounting. The accounting in which the both financial and non-financial information are provided to managers is known as Management Accounting. Providing information to managers to set goals and forecast strategies.
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⏩ Cost Accounting refers to that branch of accounting which deals with costs incurred in the production of units of an organization. On the other hand, financial accounting refers to the accounting concerned with recording financial data of an organization, in order to exhibit exact position of the business. The recording, classifying and summarising of cost data of an organisation is known as cost accounting. The accounting in which the both financial and non-financial information are provided to managers is known as Management Accounting. Providing information to managers to set goals and forecast strategies.
✔ Hope it may helps u...!!! ☺
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