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Corporate Accounting: Meaning, Importance & Explanation

Razorpay

Corporate accounting refers to the process of recording a company’s financial transactions. The end result of this process are financial statements like the cash flow statement , the income statement and the balance sheet. What is Corporate Accounting?

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Accounting Information System (AIS)

Wall Street Mojo

Article Link to be Hyperlinked For eg: Source: Accounting Information System (AIS) (wallstreetmojo.com) In simple words, it is a system to collect and store all information related to financial transactions and events so that they can be retrieved for decision making by the internal management, accounts, CFOs, auditors, etc.

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Reconciliation Statement

Wall Street Mojo

It aims to nullify the difference in the same or next accounting period Accounting Period Accounting Period refers to the period in which all financial transactions are recorded and financial statements are prepared. read more to have parity in the books of accounts of both legal entities. read more by customers.

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Unpacking the 20 most impact financial regulations from the last 20 years

The TRADE

Financial institutions are obliged to verify the identity of their customers, assess their risk profile, and monitor transactions for unusual activities. This has led to the establishment of Know Your Customer (KYC) and Customer Due Diligence (CDD) processes, bolstering transparency and accountability in financial transactions.