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
statements.
2 . to provide information for planning, controlling and organising.
3 Comments