Distinguish between how managerial accounting would support the strategy of cost leadership and the strategy of...

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Accounting

Distinguish between how managerial accounting would support thestrategy of cost leadership and the strategy of productdifferentiation. Give 2 paragraphs and use examples whenneeded.

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First we need to understand what is managerial accounting and cost accountingthen difference and the strategy of cost leadership and the strategy of products differentiation managerial accounting Managerial accounting is the presentation of accounting information in such a way as to assist management in the creation of policy and the day to day operation of an undertaking It is also called as management accounting Cost accounting Cost accounting is the process of accounting of a cost which which involves classificationrecording presentation and interpretation of the result of monetary transactionso has to access the performance and financial position at the given data and monetary projection of future activity arising from the alternative planned course of action Difference between managerial accounting and cost accounting 1meaning Manageria accounting is concerned with accounting information that is useful to management cost accounting refers to that branch of accounting which deals with cost incurred in the production See Answer

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