Cost accounting versus managerial accounting

What is cost management and how does it differ from management accounting?
Cost accounting system uses quantitative cost data that can be measured in monitory terms.
Management accounting uses both quantitative and qualitative data.
It also uses those data that cannot be measured in terms of money.
Determination of cost and cost control are the primary roles of cost accounting..
What is the difference between cost accounting and managerial accounting?
Cost accounting has a quantitative approach, while management accounting is focused on both quantitative and qualitative data.
Cost accounting helps minimize any extra expenses, and management accounting is necessary for strategy formulation and setting goals..
A financial accountant prepares detailed reports on a public company's income and outflow for the past quarter and year that are sent to shareholders and regulators.
A managerial accountant prepares financial reports that help executives make decisions about the future direction of the company.
This difference is due to the fact that financial accounting focuses on providing information for financial decision-making outside of the company, while managerial accounting focuses on providing information for internal use within the company.

What is cost management and how does it differ from management accounting?