Managerial accounting and cost accounting both measure and report financial and non-financial information relating to the cost of acquiring or utilizing resources.

Question

Quizplus · Accepted Answer

Both managerial accounting and cost accounting are concerned with measuring and reporting information related to the cost of resources. However, managerial accounting tends to focus more on internal decision-making within an organization, while cost accounting is generally more focused on determining the actual costs of products or services for external reporting purposes.

Managerial Accounting and Cost Accounting Both Measure and Report Financial