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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
CONTENTS
ACCOUNTING
COST ACCOUNTING
FINANCIAL ACCOUNTING
MANAGEMENT ACCOUNTING
DIFFERENCE
CONCLUSION
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.
COST ACCOUNTING
COST ACCOUNTING IS THE PROCESS
OF ALLOCATING EXPENDITURE FOR
THE DETERMINATION OF COST OF
PRODUCT &SERVICES
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING IS THE
SPECIALISED BRANCH OF ACCOUNTING
WHICH CONCERNED WITH
SUMMARY,ANALYSIS & REPORTING OF
FINANCIAL TRANSACTION
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
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.
CONCLUSION
ACCOUNTING IS THE INTEGRAL
PROCESS OF SMOOTH
FUNCTIONING.
ACCOUNTING HELPS
ORGANIZATION TO DETERMINE
THEIR FINANCIAL RIGHTS AND
OBLIGATION.
 accounting branches

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accounting branches

  • 1.
  • 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
  • 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.