This Slide includes: 1. Cost Accounting Vs Management Accounting 2. Management Accounting Vs Financial Accounting 3. Types of Accounting 4. Difference between Cost, Management and Financial Accounting with basis

1. Cost Accounting
Vs
Management
Accounting
Management
Accounting
Vs
Financial AccountingUttar Tamang

2. Cost Accounting Vs Management Accounting
Basis Cost Accounting Management Accounting
Objectives
The main objective of cost
accounting is to determine the
cost of production and control
the cost.
The objective of management
accounting is to assist the
management by supplying
necessary accounting
information.
Scope
The scope of cost accounting is
not broad. It deals primarily
with cost accept and cost
control.
The scope of management
accounting is broad. Financial
accounting, cost accounting,
statistics etc are related with
management accounting.
Nature
This accounting system is
concern with both past as well
as present fact and figures.
Management accounting is
concern with the transaction
relating to the future.

3. Management Accounting Vs Financial Accounting
Basis Management Accounting Financial Accounting
Objectives
Its main aim to assist managers
at all level i.e. internal users by
providing necessary accounting
information.
It is prepare for outsider like
shareholders, government,
customer, suppliers etc. as well
as organization manager.
Accounting
Principles
It has no such principle for
preparation and presentation of
report. Therefore, reports differ
from one organization to
another.
It is government by GAAP.
Therefore, all organization
prepares the financial reports
in a same manner.
Reporting
It provides information in the
form of reports at certain time
interval. As per the need of the
management.
Financial reports are generally
prepare at the end of the fiscal
year to report stakeholders.
Cont…

4. Legal
compulsion
It is voluntary. It is applied to
increase managerial efficiency
for attaining organization
objectives.
It is compulsory in every
business organization.
Performance
Measurement
It measures the efficiency and
performance of various
departments and divisions.
It measures the overall
efficiency and performance of
organization
Secrecy Secrecy of report is compulsory
because it is prepare for
internal decision making for
managers.
Generally, financial reports are
publishing to the knowledge of
the outsiders. So, they are not
separately maintain as
management accounting
report.
Span of
Time
It varies from one hour to many
years.
It is generally, preparing on
monthly, quarterly, half-yearly
and yearly basis.

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