Ques:- Tell the difference between cost accounting, financial accounting and managerial accounting?
Asked In :-
Cadbury, DFO, TFT, UBA Bank, Godrej Agrovet, Consero Global Solutions, Womble Bond Dickinson, Adventure Island Fun Park, LVS, The Breakfast Club,
Right Answer:
Cost accounting focuses on capturing and analyzing costs associated with production and operations. Financial accounting involves recording, summarizing, and reporting financial transactions to external stakeholders through financial statements. Managerial accounting provides internal management with information for decision-making, planning, and controlling operations.
Cost accounting focuses on capturing and analyzing costs associated with production and operations. Financial accounting involves recording, summarizing, and reporting financial transactions to external stakeholders through financial statements. Managerial accounting provides internal management with information for decision-making, planning, and controlling operations.