Corporate Accounting

Corporate Accounting deals with the various accounting tasks and issues of a company. The role of a corporate accountant is to prepare accounts, create cash flow statements, analyse financial reports, research the benefits of potential absorption or amalgamation, and work on consolidated balance sheets.  A corporate accountant works either in a team or a department under the supervision of the Chief Financial Officer. At times, they also undertake the overall corporate accounting responsibilities. They are responsible for one client and for ensuring that all the financial activities of a company are in line with all laws and regulations. Keep reading to know more about the corporate accounting syllabus, corporate accounting types, and corporate accounting salary.

Course name	Corporate Accounting
Eligibility	BA in accounting or finance
Best universities	Harvard University, MIT, Stanford University
Core Career	Corporate Accountant
Salary	INR 5.5 lakh per annum in India

Why Study Corporate Accounting?

Below are the reasons why students should take up corporate accounting as a career 

• Students choosing to study corporate accounting can find opportunities for career growth and development in popular companies 
• Gain the ability for entrepreneurship skills by managing the entire accounts of the company
• Gain the advantage of strong industry growth and higher potential earning 
• Learn all about business law and taxation during graduate studies 
• Be a part of a resilient industry that is not impacted by unforeseen circumstances such as covid.

Corporate Accounting Types

Accounting keeps track of the company’s financial health and reliability.Below are the main types of Accounting 

• Financial Accounting– It helps to make informed financial decisions and thus helps in maintaining the financial health of the company.
• Cost Accounting-It involves controlling the cost of industries with vast resource management. The process involves collecting information regarding fixed and variable costs and analyzing the effect on business.
• Forensic accounting– It helps in accessing whether the company has been involved in a legal crime. Basically, it deals with the legal aspect of accounting
• Tax Accounting– Tax accounting involves finding out the amount of payable income tax and other taxes of a company. It also helps the company in reducing the amount of payable taxes. Tax accounting also ensures that the company follows Indian tax rules and regulations.

Corporate Accounting Courses

Below is the list of the courses that a student can take up to become a corporate accountant.

• B.A in Finance
• B.A  in Accounting 
• B.A in Economics
• BSc Accounting and Finance 
• MBA Accounting 
• MS in Accounting 
• Master of Finance (MFin)
• Ms in Accounting

Academic Eligibility Criteria 

In order to get into the field of corporate accounting it is mandatory to have:

• A B.A degree in finance or accounting, or be a certified public accountant
• In addition, students can earn corporate accounting certificates online  
• For foreign studies, students will require to show English proficiency scores. That is, IELTS, TOEFL, or PTE
• In addition, students will also have to present a letter of recommendation, and statement of purpose to the respective university that they are applying.

Best Universities for Accounting and Finance 

Below are the best universities for accounting and finance in the world

QS Ranking 2023	University Name	Course	Tuition Fees 2023
5	Harvard University	Online certificate course in Financial Accounting	$ 1,750 (INR 1.44 lakh)
3	Stanford University	MBA	$124389 for first year(INR 1.02 cr)
1	MIT	Master of Finance	$86,300 for first year(INR 7.36 lakh)
10	University of Chicago	MBA accounting	$115062 for 9 months(INR 95.15 lakh)
2	University of Cambridge	Master of Finance	£51,000 (50.84 lakh)
56	The London School of Economics and Political Science	BSc Accounting and Finance	£25,656 per year(INR 25.57 lakh)
39	New York University	BS/MS in Accounting	$29,969 (INR 24.78 lakh)

Corporate Accounting Syllabus

Below is the corporate accounting syllabus for beginners that students will have to follow. Do note that the syllabus also involves a general lecture on cost accounting in the third section of the syllabus.

Corporate Accounting Syllabus
Section A-Introduction	Section B- Accounting for the issue of shares
Meaning and definition of a company	Accounting entry for share issue, allotment, and calls,
Characteristics of a company	Under subscription of shares and accounting entries
Meaning and types of shares	Oversubscription of shares
Divisions of share capital	Problem-oversubscription of shares
Issue of equity shares	Problem 2- oversubscription of shares
Process of issue of equity shares	Problem 3- oversubscription of shares
Issue of shares for cash in installments	Calls in advance concept
	Problem- calls in advance

Core Responsibilities of Corporate Accountant 

Below are the main responsibilities of a corporate accountant.

• Create and supervise the accounting system of the organization
• Processing payroll for staff and manage the special expenses that fall under corporate accounting such as performance bonuses, employee-related tax, overtime payment, and so on
• Managing accounts payable and receivable in a company

Career Scope: Jobs and Salary 

The salary of a corporate accountant will vary depending upon the country. The salary of a corporate accountant in India is INR 5.5 lakh per annum. Below are the jobs and salaries of a corporate accountant in different countries. 

S.No	Corporate Accountant Jobs
1	General Accountant
2	Internal Auditor
3	Financial Analyst
4	Treasury Accountant
5	Controller

Corporate Accountant Salaries
Country	Salary per annum	Salary in INR
U.S.A	$ 61,659	INR 50.93 lakh
Canada	$ 58,500	INR 36.15 lakh
U.K	EUR 44,919	INR 39.77 lakh
Australia	$ 108,712	INR 62.26 lakh
New Zealand	$ 82,955	INR 68. 53 lakh

Recruiters

Top companies hiring for corporate accountants are as follows

S.No	Top Companies
1	Accenture
2	Infosys BPM
3	Genpact
4	Tata Consultancy Services
5	Capegemini
6	Oracle
7	DXC Technology
8	Deloitte
9	Amazon
10	KPMG

FAQs

Corporate accounting helps in tracking business expenses, monitoring the financial position of the company, facilitating audits, assisting in business decisions, and helping in effective management. Hence, corporate accounting is an essential part of business management and a great career choice. It also pays well and offers several job opportunities. Need help with study abroad admissions? Call us at 1800 572 000 and book our free 30-minute counseling session today.