difference Between Cost Accounting and Financial Accounting?
- 56 Answers
- 147829 Views
- AJL, Amity, College School Exams Tests, IILM, Saga, Unilever, I also Faced
- E-Mail Answers
Answer Posted / eduri phani pavan kumar
Cost Accounting is aimed at cost control and cost Reduction
in an organisation.
Cost control is setting up of the standards and following
whether the each element is within the standards, if any
abnormal, making a critical analysis of the variance.
Cost Reduction is search for a continous improvement
(KAIZEN) especially in manufacturing process. It is
Quoestioning the standards set up.The techniques of Cost
Reduction are Value Engineering, Kaizen, Theory of
constraints etc.
Financial Accounting is concerned with post mortem exercise
of the affairs of the organisation. It is aimed at showing
the position of the organisation for a period through
Profit and Loss Account and as on a given date through
Balance Sheet.
| Is This Answer Correct ? | 1 Yes | 6 No |
Post New Answer View All Answers
what if any interviewer ask that why you have taken an AT KT in the exam. what should be a reasonable ansewer?
What is an NPA?
What is Sensex? How is it calculated?
Mention how you can view the Books of Accounts in Tally ERP 9?
How are local area banks different from small banks?
Can profits of a company ne known from its balance sheet?
How often do you visit banks?
How will you differentiate between direct and indirect taxes?
If I Decide To File For Bankruptcy, What Do I Have To Do Before I File?
What do you know about E- commerce?
What is RuPay?
In the banking scenario, what are the essential needs of the banking industry?
How is your professional knowledge useful for the banking Sector?
What is the Net present value of eurekaforbes
i have done my mba finance ,but i did my graduation in bca .pls give me relevant ans when interviewer ask me question why did u change your feild?
