What Is Private Accounting?
“In this clip, we’re going to talk about what is private accounting, and I think in order to understand what private accounting is, we also need to understand what public accounting is. Private accounting means that you work in industry for a company, and that actually can mean any kind of industry for any kind of company. You can work in private accounting if you work for your own business, and you do the accounting for your own business. That’s private accounting. Or you can work in private accounting if you work for a large public company like, say, Microsoft. If you’re an accountant at that company, you work in private accounting. Public accounting are those accountants that work for a firm that goes out and audits or does tax for those private companies or public companies. And what the public accountants do is they audit the financial statements and financial data of companies to ensure the integrity of the data.
