Cost and Management Accounting

Differeciate between Cost Accounting and Management Accounting.

Questions by malhotra_simi

Showing Answers 1 - 3 of 3 Answers

vasudeo007

  • Aug 31st, 2008
 

As far as I know, Cost accounting is related only to the cost factors.

And management accounting is related to the managerial decision making based on accounting details.

Cost accounting include:
Cost Sheet,
Variance Analysis,
Standard costing,
Cost Budget,
Reconciliation between cost profit/loss and accounting profit/loss,
Job costing,
Contract costing,
Batch costing,
etc.

While management accounting include:
funds flow statement,
cash flow statement,
ratio analysis,
capital budgeting,
working capital management,
budgeting,
dividend policy,
project selection,
NPV/IRR,
etc.

Hope the answer is correct.

Vasudeo

Give your answer:

If you think the above answer is not correct, Please select a reason and add your answer below.

 

Related Answered Questions

 

Related Open Questions