Accounting

2. MPC AUTONOMUS COLLEGE BARIPADA
DEPARTMENT OF MBA
DIFFERENCE BETWEEN COST ACCOUNTING,
FINANCIAL ACCOUNTING &MANAGEMENT
ACCOUNTING
PRESENTED BY
SUDIPTA KUMAR PATRA
ROLL NO 16
PRESENTATION SUPERVISOR
Miss MONALISHA MOHAPATRA

3. CONTENTS
ACCOUNTING
COST ACCOUNTING
FINANCIAL ACCOUNTING
MANAGEMENT ACCOUNTING
DIFFERENCE
CONCLUSION

4. ACCOUNTING
ACCOUNTING IS A SYSTEMATIC PROCESS OF
IDENTIFYING,MEASURING,RECORDING,CLASSIFY
ING,SUMMERISING,INTERPRETING AND
COMMUNICATING THE FINANCIAL
TRANSACTION TO THE OWNER AND USER OF THE
BUSINESS.

5. COST ACCOUNTING
COST ACCOUNTING IS THE PROCESS
OF ALLOCATING EXPENDITURE FOR
THE DETERMINATION OF COST OF
PRODUCT &SERVICES

6. FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING IS THE
SPECIALISED BRANCH OF ACCOUNTING
WHICH CONCERNED WITH
SUMMARY,ANALYSIS & REPORTING OF
FINANCIAL TRANSACTION

7. MANAGEMENT ACCOUNTING
MANAGEMENT ACCOUNTING IS THE
SPECIALISED BRANCH OF ACCOUNTING
WHICH CONCERNED WITH IDENTIFYING
,ANALYSIS,INTERPRETING
&COMMUNICATING INFORMATION TO THE
MANAGER TO HELPACHIEVE BUSINESS
GOALS

8. ON THE
BASIS
OF
COS
COST ACCOUNTINGNG
MANAGEMENT
MANAGEMENT
ACCOUNTINGACCOUN
TING
FINANCIAL
ACCOUNTING
OBJECTI
VE
to ascertain cost, determine
cost & control cost.
to take effective managerial
decisions.
to prepare final account &
also helps to know the
financial status of a
business.
NATURE focuses on both past and
present figures.
is subjective in nature is objective in nature
SCOPE has narrow scope has wide scope. has wide scope.
ACCOUN
TING
PRINCIP
LES
certain principles and
procedures are considered
while preparing accounts.
does not require
management accountants to
follow generally accepted
accounting principles and
conventions.
is based on accounting
principles and conventions
which are to be strictly
followed by accountants.
TOOLS
AND
TECHNIQ
UES
uses tools like standard
costing, variable costing, break
even analysis etc.
uses cash flows, fund flows
statements, ratio analysis
and so more.
records transactions related
to personal accounts,
income, revenue and so
more.

9. CONCLUSION
ACCOUNTING IS THE INTEGRAL
PROCESS OF SMOOTH
FUNCTIONING.
ACCOUNTING HELPS
ORGANIZATION TO DETERMINE
THEIR FINANCIAL RIGHTS AND
OBLIGATION.