Question

“While Financial Accounting is external, Cost Accounting is internal to the business”. Explain.

Answer 1

Explanation:

The above statement is true that financial accounting is used for external. It is because this data is required for decision making by external stakeholders which have invested their capital in the company.

On the other hand, cost accounting information is used by internal users, the managers then evaluate how things have to be adjusted to keep the given cost targets on track

Answer 2

Answer:

c

Explanation: