Difference between management and Financial accounting.

Difference Management accounting and Financial accounting.

1. Topic: Difference between Management and Financial Accounting M VADIVEL B.COM – PA

2. Financial accounting  shows the profit / loss of the business as a whole. It does not show the cost and profit for individual products, processes or departments, etc.  Management accounting  provides detailed information about individual products, plants, departments or any other responsibility centre.

3. RELATIONSHIP BETWEEN FINANCIAL ACCOUNTING AND MANAGEMENT ACCOUNTING

4. Link : Relationship 1 Relationship between Financial Accounting and Management Accounting

5. RELATIONSHIP BETWEEN COST ACCOUNTING AND MANAGEMENT ACCOUNTING

6. Cost Accounting : Provides future  cost -related decisions based on the historical  cost  information. Management Accounting : Provides historical and predictive information for future decision-making.

7. Link : Relationship 2 Relationship between Cost Accounting and Management Accounting