difference bwten financial and cost Accounting

#  basic  purpose of financial accounting : 
                                                               The main purpose of financials accounting is to provide information about the financial position of the business concern in a general way . It disclose the position of profit or lose and balance sheet of the concern to woner as well as outside parties .  

basis purpose of cost accounting :
                                                        The purpose of cost accounting is to provide information management for proper planing , control and to take appropriate decision .

# statutory requirement of financial accounting :
                                                                                 financial accounts are prepared as per the requirement of the company act and income tax act . it is compulsory to abide by the low .

statutory requirement of cost accounts :
                                                                 it is kept to meet the requirement of management .it is optional . 

# analysis of expenditure of financial accounting :
                                                                                   it classifies record and analyzes cost according to the nature of expenses . wages salaries ,depreciation ,rent etc good example .

Analysis of expenditure of cost accounting : 
                                                                        it record expenditure in accordance with the purpose for which costs are incurred. it classifies cost as direct and indirect on functional basis.