Answer Posted / h.r. sreepada bhagi

Cost Account is a branch of Accounting and is used to
account the transaction in order to arrive at the cost of
various products, with a view to control and reduce the cost
to make it more profitable to the organization. It's meant
mainly for management & to satisfy internal requirement of a
company.
On the other hand, Financial Accounting is concerned with
creating and maintaining the accounting records to enable
preparation of Profit & Loss Account for a Financial period
and Balance Sheet as at the last day of that financial
period. Besides showing the results of business operations
during the year and the assets and liabilities at the end of
the financial period, it's required for external reporting
and also for complying with various statutory requirements
of the concerned countries. Cost Accounting is micro in
nature and Financial Accounting is macro in nature.

Expand-------ANCS

2050

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what are the new rules of central excise ?

1879

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where we use the convetion of conservatisam in real life??

2050

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while passing a journal entry we rite dr. for the a/c to be debited but why don't we write cr. for the a/c which is credited and instead write 'TO'??

2088

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Why are there 30 blue-chip companies only considered in bombay stock exchange.And why those thirty only effect the sensex

2107

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what is the meaning of input vat & out put vat?

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What is Acquisition?

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what is ment by master in tally?

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Expand---------MNOP

2025

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Short Answer on _________Commerce

1835

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Purchased goods worth @25000 at 10% trade discount from seven who paid 200/- as carriage on behalf of prabhakar

2043

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Expand---------MDOT

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What is the relationship between, issued share capital, share premium and paid up capital?

2390

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Do v call director in the partnership firm?

2122

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give the details of overheads which are not included in costing

1935

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