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.
Functions of Cost & Management Accounting. Functions and objectives of cost and management accounting include the following: Planning ; Decision Making ; Monitoring & Control; Accountability ; 1. Planning. Planning is an important function of management accounting which is most effectively performed by the preparation of budgets and forecasts. Forecasting is the process of estimation of the expected financial performance and position of a business in the future.