COST ACCOUNTING AND FINANCIAL MANAGEMENT The Institute of Cost Accountants of India CMA Bhawan, 12, Sudder Street, Kolkata - 700 016 First Edition : February 2013
11 M N Arora : A Text Book of Cost and Management Accounting; Vikas Publishing House (P) Ltd , A-22, Sector 4, Noida – 201 301 12 S N Maheshwari : Cost and Management Accounting; Sultan Chand & Sons, 23, Daryaganj, New Delhi -110 002 13 S N Maheswari & S N Mittal : Cost Accounting -Theory and Problems; Shree
Financial Accounting is concerned with the preparation of Profit and Loss Account and Balance Sheet to disclose information to the shareholders Financial accounting is oriented towards the preparation of financial statements, which summarises the results of operations for select periods of time and show the
FINANCIAL ACCOUNTING: Financial Accounting has come into existence with the development of large-scale business in the form of joint-stock companies As public money is involved in share capital, Companies Act has provided a legal framework to present the operating results and financial position of the company Financial Accounting is concerned
information including financial accounting information to managers for their use in planning, decision-making, performance evaluation, control, management of costs and cost determination for financial reporting Managerial accounting contains reports prepared to fulfil the needs of managements
decision making in business At last we have discussed about cost accounting records, cost audit and analysis interpretation of financial statements
2 State the objectives of cost accounting; 3 Differentiate between cost accounting and financial accounting; 4 Comprehend the importance of cost accounting;
state the meaning and scope of cost accounting; explain the objectives of cost accounting; differentiate between cost accounting and financial accounting;