Please answer the following questions in relation to accounting:

1. Compare and contrast financial accounting and managerial accounting? 2. Consider the concept of break even analysis and target income.

a. In order to apply break even analysis, why would the expenses reported in external financial reports need to be reorganized into categories based on cost behavior?

b. How do these analytical tools relate to product pricing and cost management (i.e., why would this analysis be useful to management)?

3. Why would a company seek to position their products as low priced or high priced item in the market place? How might this affect sales dollars, sales volume, and profits?

4. Search and review your course materials for pricing strategies. Search specifically for the word pricing. Summarize the concepts and issues from the course materials. Explain the interrelationships with accounting, information systems, and sales, marketing, and profit planning