Corporate Accounting is a special branch of accounting which deals with the accounting for companies, preparation of their final accounts and cash flow statements, analysis and interpretation of companies’ financial results and accounting for specific events like amalgamation, absorption, preparation of consolidated balance sheets.
A public company usually refers to a company that is permitted to offer its registered securities (stock, bonds, etc.) for sale to the general public, typically through a stock exchange, but also may include companies whose stock is traded over the counter (OTC) via market makers who use non-exchange quotation services such as the OTCBB and the Pink Sheets. The term "public company" may also refer to a government-owned corporation. This meaning of a "public company" comes from the tradition of public ownership of assets and interests by and for the people as a whole (public ownership), and is the less-common meaning in the United States. Advantages it is able to raise funds and capital through the sale of its securities. This is the reason why public corporations are so important: prior to their existence, it was very difficult to obtain large amounts of capital for private enterprises. In addition to being able to easily raise capital, public companies may issue their securities as compensation for those that provide services to the company, such as their directors, officers, and employees.
What is a Workflow
DexFLOW is a system that can manage paperless workflow project’s task and process providing the ability to retrieve at any time a document. In case of corporate accounting departments this could be a 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 organizations 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.
Some terms used when talking about workflow are listed in Vocabulary
How things work
Documents for employee’s can be entered in many ways for example by email capture, file pickup, EDS staff scanning, or even use the DexFLOW office plugin to create from MS Office document. A parcel is created to hold the inputted documents for processing steps. Next would be indexing of the data via OCR, barcoding reading or manual. Base on rules that are configured would determine the routing of the parcel.
Use Case for an Invoice
An invoice has been emailed into the company for payment and the Email capture has picked it up and imported it into the system for processing. The converted email is a parcel with documents like the attached invoice in it. The system will send parcel to barcode for checking, then could be move to an OCR node for Indexing or manual, from there rules for approvals of routing are in place and the parcel will follow these steps throughout the processing until reaching the payment node where a user can issue a payment. After completing the parcel is committed into the storage and can be retrieved at any time for review or change.