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    Difference Between MA, FA & CA

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    chris coutinho
    Financial accounting, cost accounting, and management accounting are three branches of accounting. Financial accounting tracks financial transactions and reports on profitability using standardized guidelines. Cost accounting examines cost structures and assigns costs to products and services to evaluate cost efficiency. Management accounting analyzes costs and operations to prepare internal reports to aid managers' decision making in achieving business goals.

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    Difference Between MA, FA & CA

    Uploaded by

    chris coutinho
    90 views2 pages
    Financial accounting, cost accounting, and management accounting are three branches of accounting. Financial accounting tracks financial transactions and reports on profitability using standardized guidelines. Cost accounting examines cost structures and assigns costs to products and services to evaluate cost efficiency. Management accounting analyzes costs and operations to prepare internal reports to aid managers' decision making in achieving business goals.

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    Difference between MA,FA & CA

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    Difference between MA,FA & CA

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    Financial accounting, cost accounting, and management accounting are three branches of accounting. Financial accounting tracks financial transactions and reports on profitability using standardized guidelines. Cost accounting examines cost structures and assigns costs to products and services to evaluate cost efficiency. Management accounting analyzes costs and operations to prepare internal reports to aid managers' decision making in achieving business goals.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    90 views2 pages

    Difference Between MA, FA & CA

    Uploaded by

    chris coutinho
    Financial accounting, cost accounting, and management accounting are three branches of accounting. Financial accounting tracks financial transactions and reports on profitability using standardized guidelines. Cost accounting examines cost structures and assigns costs to products and services to evaluate cost efficiency. Management accounting analyzes costs and operations to prepare internal reports to aid managers' decision making in achieving business goals.

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    © All Rights Reserved
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    Download as pptx, pdf, or txt
    of 2

    Distinguish

    Branches Of Accounting
    SR NO BASIS Financial Accounting Cost accounting Management accounting
    1. Meaning FA , branch CA, examines MA, is the process of
    of accounting that keeps the cost structure of a analyzing business costs and
    track of a business. It does so by operations to prepare
    company's financial transact collecting information internal financial report,
    ions. Using standardized
    about the costs incurred by records, and account to
    guidelines, the transactions
    are recorded, summarized,
    a company's activities, aid managers' decision
    and presented in assigning selected costs to making process in achieving
    a financial report products and services and business goals.
    or financial statement such other cost objects, and
    as an income statement or a evaluating the efficiency
    balance sheet. of cost usage.

    2. History 2nd & 3rd century 14th century 20th century


    3. Aim Profitability of business Record & reduce Costs Analyze, plan & co-ordinate
    4. Users Generally External Internal & External Internal users
    5. Scope Wide Narrow Wider
    Branches Of Accounting
    SR NO BASIS Financial Accounting Cost accounting Management accounting
    6. Report Annually, Half yearly & Continuous Basis Continuous basis but more
    frequent
    interval Sometimes quarterly

    7. Legal Mandatory under company Purely voluntary Purely voluntary


    necessity law
    8. Principles AS(ICAI) CAS(Guidance ICMAI) Not bound
    &
    Standards
    9. Nature of Historical Historical & futuristic Futuristic & Analytical
    data
    10. Estimate Actual facts & figures Actual + estimated Approximation of figures

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