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  1. 3 Major areas of Accounting Financial Accounting: Financial Accounting is the process of recording,  summarising, analyzing, and providing financial information to users. This involves the preparation of trading account, profit & loss account, and balance sheet. Cost Accounting: Cost accountingRead more

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  1. Limitations of Management Accounting Lack of Specific Procedure Costly Dependency Personal Bias Uncertain Provides Only Data Management Accounting is only a Tool Lack of objectivity

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  1. Management Accounting is the process of analysis, interpretation, and presentation of accounting information to the users that collected with the help of financial accounting and cost accounting. This helps management in decision making. Objectives of Management Accounting Better Decision Making AssRead more

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  1. Characteristic or Features of Cost Accounting Ascertainment of cost Cost Control Aid to management Determine selling prices Inventory control Measurement of efficiency Budgeting Minimum Wastages

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  1. Cost accounting recording of all the costs incurred in the business. Cost including Fixed cost and variable costs. It Provides data to Internal users for decisions making to reduce the cost by cost control. Objectives of Cost Accounting Process Of Accounting For Cost Records Income And Expenditure PRead more

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  1. Meaning of Financial Accounting Financial Accounting is the process of recording,  summarising, analyzing, and providing financial information to users. This involves the preparation of trading account, profit & loss account, and balance sheet. Characteristic, Features of Financial Accounting ReRead more

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