Description

The branch of accounting that is in charge of preparing and consolidating the companyís general ledgers and financial statements is corporate accounting. Corporate accounting is an activity that deals with analyzing, classifying, collecting, and presenting a companyís financial data. It records business transactions systematically, making it convenient for businesses to monitor the day-to-day expenses which include financial accounts, income statements, cash flow statements, etc. The process of company accounting starts with the creation, installation, regulation, and maintenance of a firmís corporate accounting system. In the era of digitization, most firms opt for a software platform to regulate and analyze the overall accounting process. Separate accounts are created to manage different business particularities like income, assets, liabilities, equity, etc. The financial scandals that emerged in the early 2000s were due to poor accounts management and a lack of corporate accounting. The industryís ten names fell to bankruptcy due to huge accounting loopholes. This highlights the importance of corporate accountants for a company. Corporate Accounting sets a new standard for the textbooks with rich pedagogy and an easy-to-understand approach that aims at equipping students with a solid grounding in the concepts in corporate accounting.