Corporate law. Incorporation is the formation of a new corporation (a corporation being a legal entity that is effectively recognized as a person under the law). The corporation may be a business, a non-profit organization, sports club, or a government of a new city or town.
Managerial accounting involves collecting, analyzing, and reporting information about the operations and finances of a business. These reports are generally directed to the managers of a business, rather than to any external entities, such as shareholders or lenders. The functions of managerial accounting include: 1  Margin analysis. 2  Breakeven analysis. 3  Constraint analysis. 4  Target costing. 5  Inventory valuation. 6  Trend analysis. 7  Transaction analysis. 8  Capital budgeting analysis.
The primary objective of financial accounting is the preparation of financial statements-including the balance sheet, income statement and cash flow statement-that encapsulates the company's operating performance over a particular period, and financial position at a specific point in time.he key difference between financial and managerial accounting is that financial accounting is aimed at providing information to parties outside the organization, whereas managerial accounting information is aimed at helping managers within the organization make decisions.