Financial and Cost Accounting

27 Jun

1. What are the objectives of cost accounting and what is the relation with Management accounting department?

2. Define costing. Discuss briefly the objectives and advantages of costing.

3. Differentiate between idle cost and standard cost?

4. Explain the significance of cost accounting in a manufacturing company.

5. Which ratios will help in determining the long term solvency of a business and how?

6. Differentiate between Management Accounting and Financial Accounting.

7. Discuss the limitations of financial accounting and explain the importance of cost accounting.

8. How cost accounting is superior over financial accounting? Explain the techniques of costing and their application and suitability.

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