"Corporate accounting is a subset of accounting that deals with the accounting for businesses, including the preparation of their final accounts and cash flow statements, the analysis and interpretation of their financial results, and the accounting for specific events such as amalgamation, absorption, and the preparation of consolidated balance sheets. A public company is one that is permitted to offer its registered securities (stock, bonds, etc.) for sale to the general public, typically through a stock exchange. However, 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 may also be included. A government-owned firm may also be referred to as a ""public company."" This is the less-common definition of ""public business"" in the United States, and it stems from the history of public ownership of assets and interests by and for the people as a whole (public ownership). Advantages It is able to raise money and capital by selling its securities. This is why public businesses are so important: it was extremely difficult to secure substantial quantities of money for private enterprises previous to their inception."

Anjali Krishna SS

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