Question

Is there a type of accounting that is not financial accounting?

Answer 1

Yes, It is managerial acconting and cost accounting.

Managerial accounting focus on internal management information unlike financial accounting which will external centric.

Managerial accounting the processes of presentaion of financial accounting data in the form of Management information system (MIS) for anaysis and necessary decision making purpose time to time for acheivement of organisation goals.

Cost accounting helps in ascertainment of cost of product and controlling the cost. it considers the data from the past and present. It helps for standard cost determination and variance analysis with comparision of actuals.