Rabu, 05 September 2012

Accountability Through Accounting

As an individual or business there is need for a level of accountability to ensure your life or business is governed above board. Accounting is part of the business systems every business must have to help manage the resources and processes. You can only tell the health of the company if you have the correct Accounting system in place. One of the reason behind the failure of some businesses is the fact that there is minimal or no accountability of the leaders to the board or the board to the employees and so on. If no one can be held responsible for the business' performance then that business suffers from stunted growth.

- Accounting enhances accountability - Accounting produces the much needed financial performance reporting which the Directors can use to bring employees to account. We can easily tell the level of performance of a leader by simply analyzing the profit they managed to make in a month through the strict accounting policies.

- Accounting tells the health of a business - Before any investor gets involved in a business, they check the health status of the business they are about to invest in. This happens when the accounting system produces the reports. sometimes the financials are published in the press and signed off by the company secretary who then assumes full or total responsibility or accountability for the correctness of the information.

- Accuracy in Accounting is critical - One would rather not have accounting information that accumulate papers which are not accurate. With wrong data, wrong decisions are made. No one can be brought to account. It is costly to make decisions based on incomplete or wrong information.

- Accountability is for the entire workforce - Sometimes people assume that the finance people by virtue of dealing with accounts need to be accountable. Everyone has to account for what they do, how they do it and why.

- Accountability is pivotal for proper corporate governance - There can never be proper governance of a business without clear accountability structures.

I have watched over the years that situations where I have refused to be accountable, I have slowed down in making the desired progress in life. I remember when I would keep to myself with no one that could speak into my life, at that point I did the most mischievous things in life. Why not? I had no one who could look at me sternly in the face and tell me as it is. My wife taught me how accountability can be achieved through accounting with the way she handled family accounting issues to the last cent. She is one very accountable person I know. Sadly, I still lag behind in this area. I spend first and sometimes forget to keep those concerned informed about my financial actions.

22 komentar:

  1. With out account business will be unbalance, Only accounts manage the profits and loss. Account is the most important part of any small OR big business.

    Internal Audit Japan | kuno-cpa | http://www.kuno-cpa.co.jp/tcf/japan/


  2. Accounting issues are faced by every business firm and it is very essential to find best possible solution of these issues. Generally, small businesses are engaged in the issues of bookkeeping issues.

  3. Good blog along with the excellent quality stuff and I’m sure this will be greatly helpful.MYOB

  4. I'm also visiting this site regularly, this web site is really nice and the users are genuinely sharing good thoughts.cash advance lenders

  5. I thought I am aware of everything about accounting but then I came across your blog. There’s so much to learn in our world of Blogs. Your blog and Anthony Ashcroft are decreasing the building knowledge gap

  6. Nice blog, thanks for sharing small business ‎tax services this information. I will come to look for update. Keep up the good work.!!! Feel free to Visit Website.

  7. Nice post. I have bookmarked you to check your new stuff. Thanks for sharing this useful information. Its really useful for us.

    Accountant Lighthouse point
    CPA Boynton Beach

  8. Tks very much for your post.

    Avoid surprises — interviews need preparation. Some questions come up time and time again — usually about you, your experience and the job itself. We've gathered together the most common questions so you can get your preparation off to a flying start.

    You also find all interview questions at link at the end of this post.

    Source: Download Ebook: Investment Club Accounting has never been easier. Discover a step-by-step process to running the accounts for your investment club:

    Source: Download Ebook: Ultimate Guide To Job Interview Questions Answers:

    Best rgs

  9. You are sharing very great posts I like it and waiting for more posts ...
    Accounting Services in Toronto

  10. Finance and Accounting (F&A) practice serves as a strategic game-changer in helping you derive greater business value from your F&A processes.
    finance and accounting service

  11. Accounting is too broad of a subject by every business and it is very essential to find best possible business accounting services that you can take to find answers.

    Accounting Services in Delhi

  12. I read your blog and I must appreciate that you mention excellent points about accountability through accounting.

    Computer Training Schools

  13. Thanks for providing such a great article, it was excellent and very informative.
    as a first time visitor to your blog I am very impressed.
    Accounting Services in London

  14. Thanks for this wonderful post and hoping to post more of this!

    Bookkeeping Delray Beach

  15. Thank you so much for your great information!!! Gain ERP give good service for online ERP software keep looking.

    Service Provider of Online Accounting Software | Cloud Inventory Software Gainerp | Cloud Inventory Software Bangalore IT Software

  16. Good blog. Provided awesome details about accounting services.

    Adelaide Accountants

  17. Thank you for sharing such valuable information and tips. This can give insights and inspirations for us; very helpful and informative! Would love to see more updates from you in the future.

    Small Business Accounting

  18. CIITN is the Best Php training institute in Noida and delhi Ncr. You will get Live Project Training on PHP by our PHP expert who have 5+ year industrial experience.Focus on practical and live project training. In our PHP training, we you will learn core PHP, advance PHP, HTML, CSS, JavaScript, jQuery, Bootstrap, Cake PHP and Wordpress.CIITN provides 100% job assistance in PHP training. CIITN is well known PHP coaching center because our 100% PHP students are placed now.

    Ciitnoida provides Core and java training institute in noida. We have a team of experienced Java professionals who help our students learn Java with the help of Live Base Projects. The object-oriented, class-based build of Java has made it one of most popular programming languages and the demand of professionals with certification in Advance Java training is at an all-time high not just in India but foreign countries too.

    By helping our students understand the fundamentals and Advance concepts of Java, we prepare them for a successful programming career. With over 13 years of sound experience, we have successfully trained hundreds of students in Noida and have been able to turn ourselves into an institute for best Java training in Noida.

    php training in noida
    java training institute in noida
    javascript training in noida
    linux training in noida
    linux institute in noida
    red hat linux training in noida

  19. Really impressed blog content. Thanks for sharing.
    Accountant in Perth

  20. Thanks for sharing such a wonderful information. You provide such a unique services to us. If you are looking for accounting services in Busselton or Bunbury then let us work with you using Xero or MYOB accounting packages to manage your general bookkeeping, payroll or GST and BAS reporting.

  21. By following accounting concepts and principles are to be followed in the accurate, proper, reliable and honest way, the accountability established. If you're looking for Accounting Software, you must visit these products. MYOB Hong Kong and SAP Business One.

  22. Thanks for the post!
    You made some good points on accounting

    Small business accountant Melbourne