Financial accounts indicate the results of a business over a period of time. They deal with historic or past costs and are concerned with stewardship accounting.



A management accounting/ cost statement provides information to allow managers to plan, control and organise the activities of the business. The purpose of a costing/management accounting information system is:


1.     to provide information about product costing to be used in financial



2 .     to provide information for planning, controlling and organising.

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