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What are the key responsibilities of cost management and financial accounting?

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What are the key responsibilities of cost management and financial accounting?
posted Nov 2, 2017 by Chetan Hindu

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1 Answer

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Cost and management accounting is for finance professionals and business managers or owners whose role it is to maintain records to identify where to cut costs for increased profitability. Ascertain business costs for day-to-day planning, cost control, and internal decision making.

Financial accounting is for accountants whose role it is to record all transactions and accurately report the entire financial picture and performance of a business. Secure overall business financial information and report on performance and position.

answer Nov 3, 2017 by Sherlyn Mishra
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