difference Between Cost Accounting and Financial Accounting?

Answers were Sorted based on User's Feedback



difference Between Cost Accounting and Financial Accounting?..

Answer / oladele

cost a/c is collating,coordinating, assessing,and
controlling of cost and material in other to assist the
management in decision making while financial a/c is art of
recording,summarizing, reporting,and analyzing financial
transaction

Is This Answer Correct ?    36 Yes 13 No

difference Between Cost Accounting and Financial Accounting?..

Answer / riya

Financial accounting evaluate stock at cost price or market
price whichever is less whereas Cost accounting evaluates
stock only at its cost price.

Is This Answer Correct ?    16 Yes 6 No

difference Between Cost Accounting and Financial Accounting?..

Answer / utpal pawar

1)Financial a\c shows only the overall performance of a
buisness.
Cost a\c shows the performance of each department.
2)cost a\c helps in reduce the cost of production.
financial a\c is unable to shows the cost

Is This Answer Correct ?    11 Yes 3 No

difference Between Cost Accounting and Financial Accounting?..

Answer / m.punesh kumar

cost accounting are prepared on daily, weekly or monthly
but financial accounting are prepared on annual basis.

Is This Answer Correct ?    12 Yes 5 No

difference Between Cost Accounting and Financial Accounting?..

Answer / jagus

financial accounting has rule to opening and closing account

cost accounting has no rule to opening and closing account

Is This Answer Correct ?    10 Yes 6 No

difference Between Cost Accounting and Financial Accounting?..

Answer / fari

financial acconting is always in monetry form but cost
accounting is in both monetry and non monetry form

Is This Answer Correct ?    4 Yes 0 No

difference Between Cost Accounting and Financial Accounting?..

Answer / manisha

cost accounting is the method of evaluate of cost that
matireal,labours overheads and financial accounting helped
the knowing the financial positation of company .

Is This Answer Correct ?    4 Yes 0 No

difference Between Cost Accounting and Financial Accounting?..

Answer / muttu

#financial a/c mantain records of over all transactions
related to the firm, but in case of cost a/c it mantains
only transactions belongs to manufacturing.
#finacial a/c shows fincial position when we needed, but
cost shows stock lavel.

Is This Answer Correct ?    8 Yes 5 No

difference Between Cost Accounting and Financial Accounting?..

Answer / fatai toheeb olakunle

cost accounting is a management information system that
analyse the past,present and future data to provide a basis
for management decision.
it is the internal decision, makes by the management.

and the financial accounting is an external decision, makes
by the management.

Is This Answer Correct ?    3 Yes 0 No

difference Between Cost Accounting and Financial Accounting?..

Answer / d.prashant

One of the basic differences Cost Accounting is helpfully
in controlling the cost of production whereas Financial
Accounting is concerned is helpfully in determining
financial position of a concern .

Cost Accounting helps in finding out cost of a product and
control of cost.whereas Financial Accounting helps in
knowing the financial position of the business i.e is
profit or loss in a financial year.

Is This Answer Correct ?    3 Yes 0 No

Post New Answer

More Banking Finance Interview Questions

When Shares Are Allotted to Shareholders at Par What Entry Will Be Passed?

0 Answers   Joint Stock Company,


What is equity?

24 Answers   Amazon, Angel Broking, AXA, HCL, India Infoline, Infosys, MAT, MMTC, Northern Trust,


What is Vote on Account?

1 Answers  


What is npa in bank terminology?

0 Answers  


What is accounting management?

4 Answers   Standard Bank,






Types of accounts Banks?

0 Answers   State Bank Of India SBI,


Hi, I am interested in group exams but i dont know much about this, please tell me in brief about how many group exams are there, what is the difference in them. What is APPSC and UPSC exams. How and when to apply for all these exams.

0 Answers   Wipro,


What is NP?

15 Answers   Lombard, Satyam,


What Is Accrued Income?

0 Answers  


Hi this is praveen completed MBA with Finance and HR as specializations in 2007 im very much intrested in appearing for group exams? so I want to know when will be the next edition? ie how I need to apply for groups for the 1st time?

0 Answers  


What is hedging?

1 Answers  


What are the first 30 companies in BSE and what are the first 50 companies in NSE

0 Answers  


Categories
  • Business Administration Interview Questions Business Administration (517)
  • Marketing Sales Interview Questions Marketing Sales (1279)
  • Banking Finance Interview Questions Banking Finance (3208)
  • Human Resources Interview Questions Human Resources (745)
  • Personnel Management Interview Questions Personnel Management (68)
  • Hotel Management Interview Questions Hotel Management (29)
  • Industrial Management Interview Questions Industrial Management (113)
  • Infrastructure Management Interview Questions Infrastructure Management (14)
  • IT Management Interview Questions IT Management (97)
  • Supply Chain Management Interview Questions Supply Chain Management (16)
  • Operations Management Interview Questions Operations Management (39)
  • Funding Interview Questions Funding (79)
  • Insurance Interview Questions Insurance (494)
  • Waste Management Interview Questions Waste Management (1)
  • Labor Management Interview Questions Labor Management (48)
  • Non Technical Interview Questions Non Technical (73)
  • Business Management AllOther Interview Questions Business Management AllOther (546)