About This Chapter
Corporate Accounting - Chapter Summary and Learning Objectives
Unlike other types of accounting, corporate accounting provides unique challenges for financial professionals. Besides typical accounting projections, corporate accountants must consider department spending, audits, budget preparation, and corporate goal assessment. The lessons in this chapter delve into the concept of corporate accounting. Major terminology is covered within each lesson, allowing you to master keywords and topics with ease. Upon completing this chapter, you will have gained a deeper knowledge about the following:
- Tenets of corporate accounting
- Effects of retained earnings and dividend distribution
- Processes and benefits of capital gains treatments
- Corporate budget preparation procedures
|Corporate Accounting: Definition & Principles||Analyze the concept of corporate accounting, how accounting changes based on business type, and accepted corporate accounting principles.|
|Impact of Dividend Distribution on Retained Earnings||Illustrate the definition of a dividend, connect retained earnings with dividends, evaluate the five types of dividends, and outline the differences between journal entries for each dividend type.|
|Capital Gains Treatments: Definition & Advantages||Explain definitions for capital gains treatments and capital gains, compare the differences between capital gains and ordinary income, appraise the different types of assets and how some are eligible for capital gains treatments, and rate the benefits of capital gains treatments.|
|How to Prepare a Budget for a Corporation||Illustrate the budget preparation process, then offer examples of the various factors corporations must consider during this process.|
1. Corporate Accounting: Definition & Principles
Corporate accounting concerns itself with the activities of only one firm: the firm that employs the accountant. In this lesson, we'll see how that can actually mean that the accountant has a diverse workload.
2. Impact of Dividend Distribution on Retained Earnings
There are many types of dividends that an investor can receive based on his/her shareholding in a company. In this lesson, you will learn about these dividends and their impact on retained earnings.
3. Capital Gains Treatments: Definition & Advantages
Depending on the length of time that you've owned an asset, there are different capital gains taxes that come into effect. This lesson will help you ascertain the difference between short-term and long-term capital gains taxes.
4. How to Prepare a Budget for a Corporation
Budgets are some of the most important documents that a company will produce. In this lesson, we'll learn how to prepare a budget for a corporation, starting by planning the budget and ending with distribution.
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Other chapters within the Accounting 302: Advanced Accounting course
- Business Ownership Types
- Key Accounting Concepts
- Journals & Ledgers in Accounting
- Accounting Equations & Formulas
- Financial Statements, Balance Sheets & Income Statements
- Analyzing Financial Statements
- Financial Statement Ratios
- Accounting for Inventory
- Accounting for Depreciation
- Accounting for Compensation, Taxes & Liabilities
- Adjustments & Closing Entries
- Departmentalized Accounting
- Taxation for Corporations
- Business & Financial Forecasting
- Required Assignments for Accounting 302
- Studying for Accounting 302