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INTRODUCTION OF COST ACCOUNTING

Writer: Junaid Ali KhanJunaid Ali Khan

Cost Accounting is a branch of accounting and has been developed due to limitations of financial

accounting. Financial accounting is primarily concerned with record keeping directed towards the

preparation of Profit and Loss Account and Balance Sheet. It provides information regarding the

profit and loss that the business enterprise is making and also its financial position on a particular

date. The financial accounting reports help the management to control in a general way the various

functions of the business but it fails to give detailed reports on the efficiency of various divisions.



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