*Please give me examples on how to explain each of these topics. Thank you

1. What is Managerial Accounting and how is it different from Financial Accounting?
2. What is the difference between a product and a period cost and how is each type of cost reported on the financial statements?
3. What is the purpose of a product costing system and when are the different types of costing systems appropriate?
4. What is the difference between a fixed and a variable cost and how is each type of cost used in the budgeting process?