Increasing pressure on water resources, particularly in arid and semi-arid regions, has turned water management and disclosure into a strategic challenge for industrial firms. Despite the development of various water accounting frameworks and approaches, much of the existing literature remains focused on the measurement and recording of physical water data and has failed to generate decision-relevant information at the corporate level. This study aims to conceptualize a coherent pathway for transitioning from water withdrawal data to corporate water accounting and reporting and to propose an integrated framework for linking physical and economic water information at the firm level. this research is done by conceptual - analytical approach and water accounting frameworks at macro levels, value chain and corporate are compared. the results show that the main vacuum of literature is not a lack of data or theoretical framework but it is not a clear path for systematic linkage of physical flows with economic variables and corporate accounting structures. accordingly, combining the mineral’s council of Australia water accounting framework (MCA-WAF) and economic-environmental accounting system for water (SEEA-W) is proposed as a conceptual way to develop corporate water accounting in Iran. in addition to proposing this new method, this study tries to clarify some changes that are necessary to better adapt it to Iran and to localize the frame. finally, the obtained results can provide the necessary information for management decision making, stability reporting and response to stakeholders by compilation of the company's socio-economic information statement.