What are the difference between Cost Accounting and Financial Accounting?

The Difference Between Cost Accounting and Financial Accounting are as follows:

Cost Accounting:

  • The main purpose of cost accounting is to analyse, ascertainment and control of cost.
  • Cost accounting presents cost information at frequent intervals.
  • Cost accounting generally kept voluntarily to meet the requirements of the management.
  • Cost accounting records transactions in a objective manner. It means the purpose for which the cost in incurred.

Financial Accounting:

  • The main purpose of financial accounting is to record financial transactions, finding out profit or loss and financial position.
  • Financial accounting presents financial information at the end of the accounting period.
  • Financial accounting is kept compulsory in such a way as to meet the requirement of the Companies Act and income Tax Act.
  • Financial accounting records transactions in a subjective manner. It means according to the nature of expenses.


Comments are closed.

Kata Mutiara Kata Kata Mutiara Kata Kata Lucu Kata Mutiara Makanan Sehat Resep Masakan Kata Motivasi obat perangsang wanita