Basic accounting principles consist of policies and guidelines from diverse government institutions such as Financial Accounting Standards Board and Generally Accepted accounting principles.  The larger the company the more money they will invest in companies such as Price Water Coopers and Lybrant to do their accounting. Smaller companies tend to keep the handing of their finances in house and then hire a reputable small certified accounting firm to perform audits, complete and file taxes and do year end financial analysis and reporting.  Whether large or small, the all adhere to the guidelines provided by the previously mentioned government agencies to assure uniformity in reporting and managing.