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.
About Ethics in Managerial Accounting. Managerial accounting is an internal business function responsible for managing a company&rsquo;s financial information. Business owners often use managerial accounting to allocate business costs to goods or services, prepare operational budgets and forecast production output or sales. Ethics is an important part of managerial accounting, and companies may develop a code of ethics or conduct to set the expected ethical behavior for accountants. Facts The Institute of Management Accountants (IMA) is a professional organization responsible for creating managerial accounting guidelines. The IMA provides managerial accounting ethics for licensed accountants, and non-licensed accountants also can use these ethical standards to govern their accounting career. The IMAâs ethical principles are based on honesty, fairness, objectivity and responsibility.