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.
EXECUTIVE SUMMARY This Statement on Management Accounting(SMA) presents a new definition of managementaccounting, together with an explanation of thebackground leading to the new definition, theprocess undertaken to prepare the definition,and the criteria and rationale used in developingthe new definition.he new definition is: Management accounting is a professionthat involves partnering in managementdecision making, devising planning andperformance management systems,and providing expertise in financialreporting and controlto assist manage-ment in the formulation and implemen-tation of an organizationâs strategy.