Personnel Management deals with human beings and applies scientifically the procedures of employee selection, training, development and so on. Every man has his own way of behaving and it naturally needs careful and tactful handling to deal with them. So, it is an art to manage the human factor of production. "The personnel function is concerned with the procurement, development, [...]
Everything you need to know about cost accounting. Cost Accounting is the process of accounting for costs. It begins with the recording of income and expenditure and ends with the preparation of periodical statements. The terms 'Costing' and 'Cost Accounting' are often used interchangeably. But there is a little difference between the two. Costing simply means cost finding by any [...]
Everything you need to know about the key differences between cost accounting and management accounting. Cost Accounting and Management Accounting, are used interchangeably and are used in one and the same sense. Therefore, cost accounting supports management accounting and in turn management accounting pushes cost accounting further according to the needs of the management. Because of this strong bondage between [...]