| Definition |
Management Accounting provides financial and non-financial information for managerial decision-making. |
Cost Accounting records, analyzes, and controls costs related to production or operations. |
| Objective |
To assist management in planning, controlling, and decision-making. |
To ascertain and control the cost of production. |
| Scope |
Wider scope including budgeting, forecasting, decision analysis, etc. |
Narrow scope focused only on cost control and reduction. |
| Data Used |
Uses both financial and non-financial data. |
Mainly uses financial and cost-related data. |
| Users |
Internal management. |
Primarily internal but may assist in external reporting as well. |
| Periodicity |
Reports generated as needed (real-time or periodically). |
Reports are generally periodic and consistent. |
| Regulations |
Not bound by specific accounting standards. |
Follows cost accounting principles and standards. |
