Page 1 : 2., 34, 9,, 78, only. Management accounting statements in addition to monetary information also contain, monetary information, viz., quantities of materials consumed, number of workers, quantities, produced and sold and so on., 9. External v. Internal Users: Financial accounting reports the results and position of the business, to outsiders - Government, creditors, investors, owners, etc. Management accounting provide, information for the use of internal management., 10. Accuracy v. Relevance: Since financial accounting data is historical in nature, it is more accurat, than the management accounting data, which may only be an estimate. But management accounting, information is more relevant to the user as well as the problem being considered., 11. Yearly v. On demand: In financial accounting, generally, results are reported on year to year, basis. In management accounting, in addition to weekly, fortnightly or monthly reporting, reports, be provided as and when needed., may, 12. Acceptable v. Useful: To be acceptable to external users, Financial accounting reports should be, based on GAAP (Generally Accepted Accounting Principles) and follow the prescribed formats, lunder Company law. Management Accounting Reports can be in any form as long as they are, useful to the internal management. The form and content of management accounting information, differs according to the needs and purpose., The above points of distinction are summed up in the following Exhibit., bovidab, EXHIBIT 2: FINANCIAL ACCOUNTING VS. MANAGEMENT ACCOUNTING, 10 UG 1W, Management Accounting, No., Financial Accounting, Aims to record and report accounting, 1., information., Aims to analyse and interpret, accounting information., Deals with parts such as division,, department, product., Different formats of report as needed., Pertains to the entire concern., adeum lim.odo, 30, Uniform format of final accounts., Present historic picture of past, operations., Both an historical record and a future, planning tool., Reports neither audited nor published., Reports audited and published., 5., Show financial performance and, 6., position., Help management in decision-making, process., Compulsory under law., Information of a monetary nature., Voluntary and optional., Both monetary and non-monetary, Information., boainou o G, 6., Reports to outsiders., 10 Accuracy is more important., Reports to internal management., Relevance is more important., 11 Yearly reports., 12 Reports should be based on GAAP., Reports provided as and when needed., Reports based on management needs, and purpose.n oals bm, ibu A, rbadaildon i, ba so Ismotni s01 s alnomST6te potinuosn InsmgensM.nobus, boribus