What is the Difference Between Cost Accounting and Management Accounting?

Difference Between Cost Accounting and Management Accounting

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Cost Accounting is concerned with cost accumulation for inventory valuation to meet the requirements of external reporting and internal profit measurement.

Management Accounting relates to the provision of appropriate information for decision making, Planning, Control and performance evaluation

Cost Accounting is the process of cost ascertainment and cost control. It is therefore a formal system of accounting for costs by means of which cost of products and/or services are ascertained and controlled.

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Titany answered the question on October 7, 2021 at 08:02

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