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Question difference Between Cost Accounting and Financial Accounting?
 Question Asked In Companies :: Saga, Amity, Unilever, College School Exams Tests, AJL, IILM,     < I also faced this Question! >
 Question Submitted By :: nandu
  Answer Posted By  
 
Answer
The focus of cost accounting is essentially internal. it
tends to provide information about costs and cost estimates
to the parties within the firm for decision making.
Financial accounting provides consolidated information to
parties external to the business firm regarding its
operations and financial conditions. such parties include
share holders, bankers, creditors, debenture-holders,
government and tax authorities.

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