definition of cost.pdf - Cost Accounting refers to that branch of accounting which deals with costs incurred in the production of units of an

definition of cost.pdf - Cost Accounting refers to that...

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Cost Accounting refers to that branch of accounting which deals with costs incurred in the production of units of an organization. On the other hand, financial accounting refers to the accounting concerned with recording financial data of an organization, in order to exhibit exact position of the business. Cost accounting generates information so as to keep a check on operations, with an aim of maximizing profit and efficiency of the concern. Conversely, Financial accounting ascertains the financial results, for the accounting period and the position of the assets and liabilities on the last day of the period. There is no comparison between these two because they are equally important for the users. This article presents you the difference between cost accounting and financial accounting in tabular form. 1. Comparison Chart 2. Definition 3. Key Differences 4. Conclusion BASIS FOR COMPARISON COST ACCOUNTING FINANCIAL ACCOUNTING Replay

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