A accountant has to know the difference between a corporation and partnership entity so that they can make Informed decision making and risk management choices. Corporate accounting is the branch of accounting that focuses on the specific needs of businesses structured as corporations. Partnership accounting is the specific method of accounting used for businesses owned and operated by two or more individuals. Both have separate core values. Partners add their funds, assets, or services, which are recorded in individual capital accounts and corporate accounting records are recorded in a way to ensure accuracy, compliance with regulations, open access for auditing. There is also other differences in how they are each taxed. Partnerships are pass-through entity for tax purposes, meaning profits and losses are passed through to the partners' individual tax returns, avoiding the double taxation that corporations have. With partnerships the partners have to be in agreement when it comes to choices on profit and liabilities which can make accounting a little more difficult because everyone has to be on the same page. With corporations it is about building trust with the stakeholders and ensuring that the internal and external controls are working in compliance