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Different between Cost Accounting and Financial Accounting

On this PPT, Let's Checkout the few key difference between cost accounting and financial accounting. For getting more information you can visit here: https://www.bookmyessay.com/cost-accounting-assignment/

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Different between Cost Accounting and Financial Accounting

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  1. Distinguishing Between Cost Accounting and Financial Accounting

  2. The accounting is the systematic process used for recording, measuring classifying and interpreting all the financial transactions of the business. It is a very broad discipline which has various types.

  3. There are different types of accounting out of which these two are the major: 1 2 Financial Accounting Cost Accounting

  4. 1. Financial accounting The financial accounting is the branch of accounting which is concerned with recording, classifying and storing all the financial transactions happening in the organization.

  5. 2. Cost accounting This branch of accounting fundamentally deals with the cost control, cost reduction, and cost computation. Hiring cost accounting assignment help from the professional writers can help you understand

  6. What is the difference between financial accounting and cost accounting?

  7. Type of information The cost accounting records the details related to the expenses occurring in the various divisions of the organization. It is useful for incurring the cost of the business. On the other hand, the financial accounting encompasses all the monetary transactions.

  8. Users of Information The information driven from cost accounting is used by the internal management of the organization. The financial accounting information is used by the external parties associated with the business organization.

  9. Purpose Both cost and financial accounting have different purposes. The cost accounting aims at reducing and controlling the cost incurring in the organization while financial accounting is used to manage the financial transactions.

  10. If you want to acquire in-depth details about any of these, then you can take help from the professional writers of BookMyEssay. They offer the best financial accounting assignment help at very affordable prices.

  11. More questions about Topic? https://www.bookmyessay.com/  +1(240)8399485 assignmenthelp@bookmyessay.com

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