difference between financial accounting and cost accounting
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Answer Posted / 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
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