Question { Amity, 147826 }

difference Between Cost Accounting and Financial Accounting?

Answer

Financial Accounting is to find out the profitability if
operations during a particular period for the benefit of
owners and outsiders.
Cost accounting is to help management through the provision
of prompt cost data and thereby improve managerial decision
making.

In simple Financial Accouting shows the Overall profit of
the organisation. Cost Accounting shows individually ie.,
product wise.