Cost accounting and management accounting are two important terms in accounting that are used to control and formulate the organization policies. Both are used for different purposes with different styles. Cost accounting deals with the calculation and assessment of costs and expenses to purchase or produce something. It relates to calculation per unit cost using different costing techniques. Its primary purpose is to facilitate decision making for managers. Management accounting relates to the provision of appropriate information for decision-making, planning, cost control and performance evaluation. Management accounting turns data into information, knowledge, and wisdom about a business entity’s operations.