Archive | Differences

Cost Accounting and Financial Accounting | Accounting

0The upcoming discussion will update you about the differences between cost accounting and financial accounting. Difference # Cost Accounting: 1. Cost accounting is an internal reporting system for an organization’s own management for decision making etc. 2. Cost accounting is more concerned with short-term planning and its reporting period is much lesser than Financial Accounting. […]

Cost Accounting and Management Accounting: Difference

The upcoming discussion will update you about the differences between cost accounting and management accounting. Difference # Cost Accounting: 1. Cost accounting is concerned more with the ascertainment, allocation, distribution and accounting aspects of costs. 2. The Cost Accounting data generally serves as a base to which the tools and techniques of Management Accounting can […]

Difference between Fixed Budget and Flexible Budget | Costs

The upcoming discussion will update you about the differences between fixed budget and flexible budget. Difference # 1. Fixed Budget: 1. Costs are not classified according to their variability, i.e., fixed, variable and semi- variable. 2. Fixed budget is inflexible and remains the same irrespective of the volume of business activity. 3. Fixed budget assumes […]

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