Corporate accounting involves the process of managing and recording financial transactions within a corporation. It includes preparing financial statements such as the balance sheet, income statement, and cash flow statement to reflect the company's financial health. Corporate accountants ensure compliance with legal and regulatory requirements, including tax laws and accounting standards. They also handle budgeting, forecasting, and internal controls to safeguard assets and enhance financial performance. Additionally, corporate accounting aids in strategic decision-making by providing accurate financial data to management and stakeholders.