difference Between Cost Accounting and Financial Accounting?
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Answer Posted / ramanathan s
Cost accounting is a branch of financial account.but now
its as a profession of own rights.Cost accounting is
systmatic recording the transaction. finacial accounting
providing profit and loss account and balance sheet to
present the management. But Modern management needs much
more details. So, cost accounting provided detailed
information to management of separate department ,
product , etc.
Mainly finacial account supplied statement of Profit &
loss account and balance sheet for outsiders.
And Cost accounting supplied statment of cost of product and
departmnet.
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