Answer / bandi subhash

Cost accounting is a branch of accounting dealing with the
classification, recording, allocation, summarization and
reporting of current and prospective costs and analyzing
their behaviors.

Financial accounting is a branch of accounting it is used
for prepare financial statement like balance sheet, profit
and loss accounting and cash flow statement. This main
objective is provide the financial position, and
performance of the business unit and profitability position.
one of the major difference is cost accounting provide the
information to take the decision inside of the organization
but financial accounting provide the information to take
the decision both internally as well as externally

Answer / 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

Answer / abubakari peter

financial accounting seeks to provide financial information
to internal users such as employees as well as stake holder
or external users such as equity share holders, creditors
(debenture holders,trade creditors),investors and to the
general public.
cost accounting provide information for internal
consumption whic helps the various departments in an
organization in their day to day operations.it could be
done daily, weekly or monthly depending on the culture and
volume of work.

Answer / raja mohamed

finacial ccounting :- Financial accounting making for
financial position company.
Cost accounting :- Cost accounting making for production.
and management position company.

What is the Accounts Payable & Accounts Receivable ?

0 Answers   EDS,

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Can you please help me calculate the pre tax profit for credit card for 2014 using the following Assumptions. Request you to list the steps used. Charges Late fee £12 per occurrence Over limit fee £10 per occurrence Cash fees 3% of cash withdrawal value Annual Fee £25 per account, per year Interchange 1% of transaction value KPIs Accounts overdue 10% per month Accounts over limit 15% per month Average APR 30% Balances revolving 90% of balance Average balance £900 at end of 2013 Expected growth in average balance (2014) 10% per annum Assumptions Open accounts 200,000 at 2013 year-end New accounts booked 5,000 per month Annual operating cost £50 per open account Cost of Acquisition £50 per account Provision rate 9% of total balances Annual cost of funds 4% by balance Charge off Unit charge-off rate in 2014 11% of accounts at 2013 year-end Unit charge-off rate in 2014 0% of accounts booked in 2014 Post charge-off recoveries 20% of balance Account Transactions Monthly turnover 5% of total month end balances Cash advances 20% of monthly turnover Additional Assumptions Please state any additional assumptions you have made to calculate your answer Thanks in advance,

0 Answers   Elevates Infosolution,

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under what circumstances, a realisation account is prepared. tell all the situations

1 Answers  

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You are given the following information in respect of a company: Fixed cost –Rs.13,000 Variable cost –Rs.14,000 Net profit –Rs.3,000 Net sales-Rs.30,000 Find out: a>BEP b>The profit for sales volume of Rs.50,000 c>The volume of sales to make a profit of Rs.10,000

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please tell me debit credi entry , in respect of salary advance and how to deduct,advance paid to employee

6 Answers   Morgan Stanley, Tops Technologies,

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Expand----------CPC

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What is the proces of transfer of goods from one branc at Mumbai to the other jBranch at Ajhmedabad? Clearly state the provisions of the relevant Act?

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what is IPO

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Expand A G M

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karthiks due of Rs 35000/- was settled in full with a cheque of rs 31500/-Pass entry

3 Answers  

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Lets suppose X sold goods to Y on credit basis and after the due date is over Y could not make the payment due to Y became insolvent, so In X books he will show the uncollectible as Bad debts expense but in Y account under which account Y will show this while journalizing this transaction in his books of accounts?

0 Answers  

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What is the difference between Risk, Threat & Hazard?

0 Answers  

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