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Cost & MGT Accounting

Financial accounting involves recording business transactions and preparing financial statements for internal and external users. Cost accounting finds the cost of goods manufactured or services rendered to control operations and maximize efficiency. Managerial accounting provides information to management through financial analysis, budgeting, cost analysis, and evaluating business decisions.

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Ghalib Hussain
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75 views3 pages

Cost & MGT Accounting

Financial accounting involves recording business transactions and preparing financial statements for internal and external users. Cost accounting finds the cost of goods manufactured or services rendered to control operations and maximize efficiency. Managerial accounting provides information to management through financial analysis, budgeting, cost analysis, and evaluating business decisions.

Uploaded by

Ghalib Hussain
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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1.1 Introduction to Accounting & its Significance 1.1.

8 Financial Accounting

Financial Accounting
Financial Accounting
Financial accounting involves recording and classifying
business transactions, and preparing and presenting
financial statements to be used by internal and external
users.
1.1 Introduction to Accounting & its Significance 1.1.8 Cost Accounting

Cost Accounting

Cost accounting
The object of cost accounting is to find out the cost of goods
manufactured or services rendered by a business. It generates
information for controlling operations with a view to
maximize efficiency and profitability.
1.1 Introduction to Accounting & its Significance 1.1.8 Management / Managerial
Accounting

Managerial Accounting

Managerial Accounting
Managerial or management accounting provides
information to the internal users or management. It
involves financial analysis, budgeting and forecasting,
cost analysis, evaluation of business decisions etc.

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