Accountancy, asked by sharmamickey07, 6 months ago

What is cost accounting ? Describe similarities and differences between cost accounting and financial accounting.

Answers

Answered by TEJPRATAPSINGH2725

Explanation:

Cost Accounting Records both historical and per-determined costs. 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

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