Management Accounting versus Cost Accounting

The distinction between cost accounting and management accounting is not so clear-cut, and we often use
these terms interchangeably. Those items that not so clear-cut are following:

Cost Accounting Management Accounting

Primary objective ascertainment of cost of producing a provide information to managers for setting
product / assist the management in cost goals and future activity for its efficiency and
control and decision-making effective performance / provide necessary
information to the management in the
process of its planning, controlling, and
performance evaluation, and decision-
making
Information quantitative information quantitative and qualitative information
Accounting there are specific rules and procedure for no specific rules and procedures
information preparing
Scope limited to cost data wider area of operation like tax, budgeting,
planning and forecasting, analysis, etc.
Cost aspect related to ascertainment, allocation, and associated with impact and effect aspect of
distribution cost
Planning short-range planning long and short range planning, for which it
uses high-level techniques such as
probability structure, sensitive analysis etc.
Aims reducing extra expenditure, eliminating aims at the planning of policies and strategy
unnecessary costs and controlling various formulation setting goals,
costs