(1) FINANCIAL ACCOUNTING
Financial accounting is the original form of accounting.Its' object is to ascertain the result of the operation and to provide information about the financial position of the business.However the financial accounting information relates only to the past and is expressed in monetary terms.Hence financial accounting is a sub-system of accounting information system.
(2) MANAGEMENT ACCOUNTING
Management accounting is concerned with the activity of providing financial and non financial; information to the management .However it draws all financial information from financial accounting.
(3) COST ACCOUNTING
Cost accounting is the process of accounting for costs.It has linkages with other accounting sub-systems to get the essential information about elements of cost.Further,cost accounting generates information about the changes in the cost that take place during the period under review.
Financial accounting is the original form of accounting.Its' object is to ascertain the result of the operation and to provide information about the financial position of the business.However the financial accounting information relates only to the past and is expressed in monetary terms.Hence financial accounting is a sub-system of accounting information system.
(2) MANAGEMENT ACCOUNTING
Management accounting is concerned with the activity of providing financial and non financial; information to the management .However it draws all financial information from financial accounting.
(3) COST ACCOUNTING
Cost accounting is the process of accounting for costs.It has linkages with other accounting sub-systems to get the essential information about elements of cost.Further,cost accounting generates information about the changes in the cost that take place during the period under review.
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