Deal with: Cost accounting deals with ascertainment, allocation, appointment and accounting aspect of costs.
Base: Cost accounting provides a base for management accounting.
Role: Cost accounting is helpful in collecting costing data for the management.
Status: The status of cost accountant comes after the management accountant.
Outlook: Cost accountant has a narrow approach. He has to refer to economic and statistical data for analysing cost effects.
Tools & Techniques: Cost accounting has standard costing, variable costing, break even analysis etc. as the basic tools and techniques.
Scope:Cost accounting does not include financial accounting, tax planning and tax accounting.
Period of planning: Cost accounting is concerned with short term planning.
Assistance:Cost accounting merely assists the management in its functions.
Approach: Cost accounting is historical in its approach.
Installation: It can be installed without management accounting.
Deal with: Management accounting deals with effect and impact of cost on the business.
Base: Management accounting is derived from both cost accounting and financial accounting.
Role: Management accounting has a greater degree of relevance and objectivity as the management accountant has a clear idea of the types of cost and items requiring analysis problems of business.
Status: Management accountant is senior in position to cost accountant.
Outlook: Management accountant reports the effect of cost on the business along with cost analysis.
Tools & Techniques: Along-with tools and techniques of cost accounting, the management accountant has funds and cash flow statement, ratio analysis etc. as his accounting tools and techniques.
Scope: Management accounting includes financial accounting, cost accounting, tax planning and tax accounting.
Period of planning: Management accounting Is concerned with short range and long range planning and uses techniques like sensitivity analysis, probability structure etc. its special field is evaluation of capital investment project.
Assistance: Management accounting assists and evaluates the management performance.
Approach: Management accounting is futuristic in its approach.
Installation:Management accounting needs financial and cost accounting as its base for its installation.
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