The fact is that due to Newton's third law, the sum of forces applying to a system equals it's mass*it's acceleration.
Here we have 2 forces : the gravitational and the centrifugal forces.
So we have mg - mv²/R = m a (using a centripete axis)
Which yields immediately : a = g - v²/R
So, in a way, acceleration = gravitational force - centrifugal force
I assume you meant centrifugal when you said "centripetel" :)
This equation looks ok to me, even though I've never read or heard anywhere that the centrifugal force, being a virtually force, could be used in Newton's equation.
It's also very intuitive, you have Earth's rotation that tends to eject objects on it's surface while its gravity field tends to attract objects. The resulting force we sense is then the sum of both.
However, as you can imagine, the centrifugal force is very tiny in comparison with the gravitational force, this is why it is often not used.