Cost Accounting and Management Account

What is the difference between cost accounting and management account

Questions by vijayrajan

Showing Answers 1 - 9 of 9 Answers

johnsembee

  • May 29th, 2008
 

The process of tracking, recording and analyzing costs associated with the products or activities of an organization is Cost Accounting.

The process of identifing, measuring, analysing, preparing , interpreting and communicating the information is Management Accounting.

ngodza22

  • Jun 28th, 2008
 

Cost accounting :is mainly concerned with data captive, recording, accumulation & interpretation of information cost of prodution so as enable management to focust & relevent decision.
Management Accounting : is amalgamation & processing of historical & focusted data so as to make rational future plans.

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ngodza22

  • Jun 28th, 2008
 

since fixed cost doesn't change whether you decide to produce or not to produce...eg rent, thus in marginal costing fixed cost element is removed so as to arrive at contribution... hence fixed cost is irrelevent cost in marginal costing

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