Interested to Buy Any Domain ? << Click Here >> for more details...
difference between financial accounting and cost accounting
- 4 Answers
- 7798 Views
- I also Faced
- E-Mail Answers
Answer Posted / priyank kaushik
Financial Accounting- The purpose of it to provide the
information needed for economic decision making. The main
purpose is to prepare the financial reports that provide
information to investors, creditors, tax authorities. It is
performed on the general accepted accounting principle
(GAAP).
Cost Accounting:- It is that part of management accounting
which establishes budget and actual cost of operations,
processes, departments or product and the analysis of
variances, profitability or social use of funds. And as a
form of management accounting, it need not follow general
accepted accounting principles. It is the process of
identifying & evaluating production costs
| Is This Answer Correct ? | 4 Yes | 2 No |
Post New Answer View All Answers
Short Answer on ______Amortization
please answer this question.the following balances were extracted from the books of modern traders on 31st dec,2010.capital(85000)fixed assets(45000)stock1-1-2010(15000)sundry debtors(20600)productive exp(3300)reserves fund(6600)discount received(800)cash in hand(6200)drawing(5000)accomulated dep.(9000)purchases(82000)bad debts(400)unproductive exp.(27400)sundry creditors(9000)sales(120000)cash at bank(25500).adjustments.stock on 31-12-2010(15000).outstanding wages (5000) write-off (600)of further bad debts. create provision for bad & doubtful debts at {5%) on debtors.unproductive expenses includes anitem of prepaid insurance (100).provide depreciation on original cost of fixed assets @ (10%).
do we have to learn all the shortcutkeys in tally.i am from non commerce background ,where should i start from.
shares journal entries
Accounting related interview questions on ibm
where we use the convetion of conservatisam in real life??
what is the meaning of call in arear
how many types of financial teribuanal? what is that?
what are the new rules of central excise ?
You have joined company yesterday then you are Appling B1 visa today. why so urgent.
what is ZBA hold & balance hold in banking?
Plz Give the Inventry Accounting Procedure 1.Domestic Purchases ( VAT,CST,& Excise) 2.Import Purchases ( Direct Expences & Excise ) 3.When Will the Price Diffrence Entry Happen? 4.Cash Discount & Trade Discount On Purchases? 5.Domestic Sales ( VAT,CST,& Excise) 6.Export Sales ( Customes ,Excise ) 7.Cash Discount & Trade Discount On Sales?
what is the difference between financial accouning and financial management?
Can I check my Vantage credit score range online?
define holding company,public company, if the compnay be a public company what will the criteria? asked on 30/7/09
