? 1.Contrast financial and managerial accounting on the basis of user orientation, purpose of information, level of aggregation, length of time period, orientation toward past or future, conformance to external standards, and emphasis on objective data. Solution Financial Accounting Managerial accounting User Orientation it is targeting to general users like shareholders, investors, and government It targets to managers and to policy makers and management Purpose of information Purpose of accounting is to provide raw information for decision making it provides data on decision making level of aggregation it is aggregated at initial level of operations it is aggregated at the top management level length of time period it is targeting generally to an accounting period It works over a number of periods Orientation toward past or future its orientation is external its orientation towards internal conformance of external standards Accountants has to follow various rules relating to accoutning like IFRS, GAAP etc. while it is not required into managerial accounting Emphasis on objective data data provided by financial accounting is the basis of managerial accounting data and reports generated by managerial accounting are used for decision making Financial Accounting Managerial accounting User Orientation it is targeting to general users like shareholders, investors, and government It targets to managers and to policy makers and management Purpose of information Purpose of accounting is to provide raw information for decision making it provides data on decision making level of aggregation it is aggregated at initial level of operations it is aggregated at the top management level length of time period it is targeting generally to an accounting period It works over a number of periods Orientation toward past or future its orientation is external its orientation towards internal conformance of external standards Accountants has to follow various rules relating to accoutning like IFRS, GAAP etc. while it is not required into managerial accounting Emphasis on objective data data provided by financial accounting is the basis of managerial accounting data and reports generated by managerial accounting are used for decision making.

1. ? 1.Contrast financial and managerial accounting on the basis of user orientation, purpose of
information, level of aggregation, length of time period, orientation toward past or future,
conformance to external standards, and emphasis on objective data.
Solution
Financial Accounting
Managerial accounting
User Orientation
it is targeting to general users like shareholders, investors, and government
It targets to managers and to policy makers and management
Purpose of information
Purpose of accounting is to provide raw information for decision making
it provides data on decision making
level of aggregation
it is aggregated at initial level of operations
it is aggregated at the top management level
length of time period
it is targeting generally to an accounting period
It works over a number of periods
Orientation toward past or future
its orientation is external
its orientation towards internal
conformance of external standards
Accountants has to follow various rules relating to accoutning like IFRS, GAAP etc.
while it is not required into managerial accounting
Emphasis on objective data
data provided by financial accounting is the basis of managerial accounting
data and reports generated by managerial accounting are used for decision making
Financial Accounting
Managerial accounting
User Orientation
it is targeting to general users like shareholders, investors, and government
It targets to managers and to policy makers and management
Purpose of information

2. Purpose of accounting is to provide raw information for decision making
it provides data on decision making
level of aggregation
it is aggregated at initial level of operations
it is aggregated at the top management level
length of time period
it is targeting generally to an accounting period
It works over a number of periods
Orientation toward past or future
its orientation is external
its orientation towards internal
conformance of external standards
Accountants has to follow various rules relating to accoutning like IFRS, GAAP etc.
while it is not required into managerial accounting
Emphasis on objective data
data provided by financial accounting is the basis of managerial accounting
data and reports generated by managerial accounting are used for decision making