Cost Accounting is associated with records of costs associated with a business unit over a specific time period. Management accounting on the contrary deals with certain decisions that are taken in regards to management of a company.

Though both these forms of accounting have certain common objectives, yet there are certain specific differences associated with each of these.


  • Primary objective:

The primary aim of cost accounting is to provide a record of the costs associated with a business unit after a certain time period. In comparison to that, management accounting provides data that specifically deals with administrative decisions that are taken in regards to a business venture.

  • Nature of data provided:

Whereas cost accounting deals with quantitative data, in case of management accounting both quantitative aspect and qualitative factors are taken into consideration. Also, it is to be noted that cost accounting develops a strong base on which management decisions can be taken, whereas management accounting is both associated with cost and financial accounting.

  • Techniques associated with this system:

Cost accounting uses techniques as: Analysis of variance and break even points and Standard costing format. Management accounting apart from details of cost accounting also includes ratio analysis and cash and fund flow systems.

  • Installation procedure of this system:

The process of cost accounting can be installed without help from management accounting, but management accounting requires details associated with cost and financial accounting data.


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