Cost accounting is more concerned with shortterm planning and its reporting period is many more losses than

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Cost accounting is more concerned with shortterm planning and its reporting period is many more losses than in financial accounting It deals with historical data but is also futuristic in approach Cost accounting systems cannot be installed without proper financial accounting systems Each organization can develop a costing system best suited to its individual needs In financial accounting, the primary emphasis is in cost classification based on types of transaction, but in cost accounting, the f