What is meant by Cost Accounting? How it is different from Financial Accou

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What is meant by Cost Accounting? How it is different from
Financial Accounting?

Question Submitted By :: Yasir_irfan7

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Re: What is meant by Cost Accounting? How it is different from Financial Accounting?

Answer
# 1

Financial Accounting is prepared to know the profit or loss 
and financial position of the company.It is one of the 
branch of Accounting

Cost Acccounting is another branch of Accounting.It is 
prepared to know the cost of one product from manufacturing 
upto it sales.It is useful to management in decision making 
of about future of product and to make business efficiently.

Due to the limitation of the financial Accounting it is not 
possibe to know cost of product in financial Accounting

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