How is managerial accounting different from financial accounting?

Comment on the different needs and use of financial information for internal purposes.

The managerial accounting profession and its role in today’s business environment. How has it changed over time?

Comment on the Certified Management Accountant (CMA) designation.

Part II:

Explain the main differences between the absorption and contribution (behavioral, variable) income statements. Will net income always be the same under the two approaches? If not, explain the difference.

Comment specifically on why companies feel the need to create yet another income statement in a different format. What information can the company gleam from this approach which is helpful as a tool in the decision making process.

Explain situations in which break-even analysis can be a useful tool. Provide a specific example.

2 to 4 pages jnclude answers to all the questions listed above. Include references