Difference between cost accounting and financial accounting ppt

  • What is the difference between cost accounting and financial accounting?

    Cost accounting primarily deals with the identification, allocation, and analysis of costs associated with the production of goods or services.
    On the other hand, financial accounting focuses on the preparation of financial statements, reporting the overall financial performance and position of an organization..

  • What is the difference between FA CA and MA?

    Financial accounting is focused on creating financial statements to be shared internal and external stakeholders and the public.
    Managerial accounting focuses on operational reporting to be shared within a company..

  • Financial accounting is the process of preparing Income statements and position statement whereas Cost accounting involves recording, ascertainment, and analysis of the cost of products & services.
    The objective of Financial accounting is an analysis of the financial position of a business.

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