Explain the relationship between financial accounting cost accounting and management accounting
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In simple definition Cost accounting is systematic process generates the data which is needed for the management and financial accounting to prepare the financial statements and make a decision.
Cost accounting provides and defines the types of costs such as :
prime cost-conversion cost-variable cost-fixed cost-marginal cost-joint cost-discretionary cost.
all these types of classifications have their own use and are required in different business situations.
hope it help...
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Cost accounting provides and defines the types of costs such as :
prime cost-conversion cost-variable cost-fixed cost-marginal cost-joint cost-discretionary cost.
all these types of classifications have their own use and are required in different business situations.
hope it help...
Please mark me Brainliest...
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