Introduction: The fundamental objective of accounting is to provide useful information for making business and economic decisions. What makes accounting information useful for decision making? The answer is, however, that accounting information confirms the qualities that financial, cost and management reporting should possess. In consideration and in addition to this, the importance of strategic cost management and costing techniques such as activity based costing should not be underestimated. This implies that the organization should install an appropriate strategic cost management framework to reduce its costs in key areas on which the success of the organization highly depends. Objective of the study: The project is presented with the following objectives:1. Understand the various interfaces between financial accounting and cost and management accounting2. Understand the concept and meaning of strategic management program.3. Understand the basic idea and concepts of management accounting. Main branches of accounting: ○ Financial accounting Financial accounting is related to the recording of all financial activities. These activities are business related. As the business area increases day by day, the area of ​​financial accounting also increases. Every day a new type of business is started. Then the day-to-day accountant invents a new journal entry. The accountant will take advantage of the help of financial accounting with a new conception of the result. So we've included a new chapter on financial accounting.○ Cost Accounting If you want to increase your profits, start reducing your costs. What a dialogue, this is not a dialogue but this is the reality of business today. Every day an accountant invents a new method to reduce costs. All the calculation methods of FIFO, LIFO, standard costing, variance calculation and cost budgeting are not the end of cost accounting, but this is the beginning of cost accounting. The Internet cost reduction method is also a new milestone in this direction.○ Management AccountingA new manager will work in the field of management accounting. It will use accounting information in a new way. This is the true definition of management accounting. How to use accounting data and accounting training in the field of management so as to take our business internationally. Ratio analysis, fund flow statements, cash flow statements, working capital management, capital budgeting, cost of capital calculation are just starting at this point. Differences between Financial and Cost and Management Accounting: The differences between Financial and Cost and Management Accounting are discussed below under their respective heads: