Corporate accounting: theory and practice

Corporate accounting refers to the measurement, recording and interpretation of financial information and data relating to a limited company (a public limited company or a joint stock company). It specifically refers to accounting for larger organisations rather than smaller-scale sole traders or partnerships where the requirements and demands for filing accounts tend to be less rigorous. This is because corporations have a duty to provide financial information to the general public and regulatory bodies, whereas smaller businesses do not have this duty. A key component of corporate accounting, as opposed to keeping personal accounts, is the use of the double entry bookkeeping system, whereby every transaction that takes place will leave a record in two or more accounts. In this valuable textbook, the authors reflect contemporary developments in the subject while continuing to encourage critical analysis of the usefulness and relevance of accounting practices.