Similarities

Both is a branch of Accounting

Both are not reported at the end of the financial year

Both are prepared for a particular period

Both is supportive in decision-making

Differences

The accounting associated to the recording and studying of cost information is known as cost accounting. The accounting associated to the generating data which is utilized by management of the business is known as management accounting,

Cost Accounting gives quantitative data only. On the hand Management Accounting gives both quantitative and as well as qualitative data,

Cost accounting is one of the components of Management Accounting as the data is utilized by the management for making decisions,

The main objective of Cost Accounting is the find out the cost of manufacturing a product, but the key aim of the management accounting is to present data to managers for establishing goals and prospect actio,

Cost Accounting is related to establishment, allotment, division and accounting face of cost. On the other side, management accounting is related with impact and outcome facet of cost,

Cost Accounting pressurize on short-term planning, but management accounting targets on both long and short range of planning, for which it utilizes high level methods such as sensitive analysis, probability structure etc.

The scope of Cost Accounting is limited to cost data however the Management Accounting has a wider area of operation like tax, budgeting, planning and forecasting, analysis, etc.

There are precise system and process for preparing cost accounting data while there are no exact set of laws and procedures in case of management accounting information,

While management accounting can’t be used in the absence of accounting, cost accounting has no such condition; it can be used without management accounting.

Cost Accounting is subset of managerial Accounting.

The first is a micro-level for costing while the other is a Macro-level for managing organization's accounts.

Also, Read:

According to Balakrushna Padhy

Management accounting includes a lot of aspects of business such as decision making, strategizing, planning, performance management, risk management etc. Cost accounting, on the other hand, only revolves around cost computation, cost control, and overall cost reduction of business.

Nice Blog with 9 Differences explained:

https://www.wallstreetmojo.com/cost-accounting-vs-management-accounting/

Similarities

Both is a branch of Accounting

Both are not reported at the end of the financial year

Both are prepared for a particular period

Both is supportive in decision-making

Differences

The accounting associated to the recording and studying of cost information is known as cost accounting. The accounting associated to the generating data which is utilized by management of the business is known as management accounting,

Cost Accounting gives quantitative data only. On the hand Management Accounting gives both quantitative and as well as qualitative data,

Cost accounting is one of the components of Management Accounting as the data is utilized by the management for making decisions,

The main objective of Cost Accounting is the find out the cost of manufacturing a product, but the key aim of the management accounting is to present data to managers for establishing goals and prospect actio,

Cost Accounting is related to establishment, allotment, division and accounting face of cost. On the other side, management accounting is related with impact and outcome facet of cost,

Cost Accounting pressurize on short-term planning, but management accounting targets on both long and short range of planning, for which it utilizes high level methods such as sensitive analysis, probability structure etc.

The scope of Cost Accounting is limited to cost data however the Management Accounting has a wider area of operation like tax, budgeting, planning and forecasting, analysis, etc.

There are precise system and process for preparing cost accounting data while there are no exact set of laws and procedures in case of management accounting information,

While management accounting can’t be used in the absence of accounting, cost accounting has no such condition; it can be used without management accounting.

Both these terms , cost accounting and management accounting are sometimes used interchangeably . However there are differences between them, While cost accounting is more narrow in scope and mainly deals with cost ascertainment, collection and analysis. Management accounting is primarily decision oriented and much wider in scope. Cost accounting deals primarily with quantitative information whereas management accounting is based on both , quantitative as well as qualitative information. Both of these forms of accounting have an internal focus and this is where they differ from Financial accounting which has an external focus.

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Dear Dr. Salim Ali Shamsher,

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Thanks & Regards

You are most welcome

In the past, cost accounting focused primarily on manufacturing concerns and the focus was on fixed and variable costs. With the moving away from manufacturing in the US and other places, the focus shifted to cost centers in activities not necessarily relating to the costs of manufacturing something but, rather, at managing a cost center.

[In the past, cost accounting focused primarily on manufacturing concerns and the focus was on fixed and variable costs. With the moving away from manufacturing in the US and other places, the focus shifted to cost centers in activities not necessarily relating to the costs of manufacturing something but, rather, at managing a cost center.]