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#1
11th December 2011, 11:52 PM
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What is the difference between cost accounting and financial accounting systems of companies?
explain the difference between cost accounting and financial accounting systems of companies supplying manpower services to hotels for cleaning services
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#2
12th December 2011, 12:12 PM
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Re: What is the difference between cost accounting and financial accounting systems of companies?
The Difference arises in terms of their objectives .
The main objective of cost accounting was cost control and cost reduction . So the cost accounting Deals with costs and its functional area was of manufacturing . The main objective of Financial accounting was Giving a true and fair view of financial statements as prepared by Management . The Functional area was of whether all the Transactions were properly recorded or not
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