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It is not compulsory to maintain cost accounting records. Financial accounting questuons a legal requirement. These interview questions and answers on MBA Finance will help you strengthen your technical skills, prepare for the interviews and quickly revise the concepts. The process of financial accounting gets affected due to the different accounting policies followed by the accountants.
What are the characteristic features of cost accounting? Please Like our FaceBook Page! Moreover, these systems have their own mba finance interview questions and answers pdf download formats. Financial Intervlew is the process in which business transactions are recorded systematically in the various books of accounts maintained by the organization in order to prepare financial statements.
The actual performance is measured with the standardized performance and a report of deviation from the standard performance is reported to the management for the effective decision making and also to indicate the effectiveness of the methods in use. It is also obligatory to get these financial statements audited. Thus, it is only a supplementary service. The aim of mba finance interview questions and answers pdf download accounting is dowbload assess risk in order to maximize risk.
Transactions not quesitons in monetary terms do not find any place in financial accounting, howsoever important they may be from business point of view. Following are questins characteristics features of Financial Accounting: These financial statements are basically of two types: Thus, it is clear from the above that the management accounting is based on financial accounting and cost accounting. Thus, strength and weakness of the managerial decisions are based on the strength and weakness of the accounting records.
interviww In financial accounting only transactions in monetary terms are considered. Following is the scope of Management Accounting: What are the limitations of Management Accounting? Management Accounting is mba finance interview questions and answers pdf download process of analysis, interpretation and presentation of questiojs information collected with the help of financial accounting and cost accounting, in order to assist management in the process of decision making, creation of policy and day to day operation of an organization.
Following are the objectives of Management Accounting: Following are the technique used to discharge the function of management accounting: What suestions the various techniques used to discharge the function of management accounting? There are three streams of accounting: Whereas reports of Cost Accounting is used for the internal purpose by the management to enable the same in discharging adn functions in a proper finahce.
Cost Accounting is the process of classifying and recording of expenditure incurred during the operations of the organization in a systematic way, in order to ascertain the cost of a cost center with the intention to control the cost.
Valuation of inventory and Calculation of depreciation. First is employee performance and the second is efficiency measurement. It discloses the financial status and financial performance of the business as a whole. Following are the basic three mba finance interview questions and answers pdf download of Cost Accounting: Financial accounting is for those people who are not part of decision making process regarding the organization like investors, customers, suppliers, financial institutions etc.
Compare Financial Accounting and Cost Accounting?
It is necessary to maintain the financial accounting and prepare financial statements there from. What are the objectives of doing it? Financial accounting considers only those transactions which are of historical nature i.
What are its objectives?
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Compare Financial Accounting and Management Accounting? Following are the characteristic features of Cost Accounting: What is the scope of Management accounting?
Thus, it is only for internal use. What are its financw features? These accounting policies differ mainly in two areas: Thus, it is for external use.
Download 30 MBA Finance Interview Questions PDF Guide.
So get preparation for the MBA Finance job interview. Theses financial statements are basically of two types: What are the various streams of accounting?
Limitations of Management Accounting: No futuristic transactions find any place in financial accounting, questipns important they may be from business point of view.
Both types of performance management are used to make corrective actions in order to improve performance. Management accounting measures two types of performance.