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 fraction of the business systems every business must have to assist manage the resources and processes. You can only direct the health of the company if you have the just Accounting system in location. One of the reason late 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 grand needed financial performance reporting which the Directors can employ to bring employees to record. We can easily lisp the level of performance of a leader by simply analyzing the profit they managed to form in a month through the strict accounting policies.



- Accounting tells the health of a business - Before any investor gets interested in a business, they check the health location 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 burly or total responsibility or accountability for the correctness of the information.



- Accuracy in Accounting is principal - One would rather not have accounting information that gain papers which are not good. With execrable data, defective decisions are made. No one can be brought to tale. It is costly to effect decisions based on incomplete or infamous information.



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



- Accountability is pivotal for superb corporate governance - There can never be top-notch governance of a business without definite 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 retain to myself with no one that could deliver into my life, at that point I did the most roguish things in life. Why not? I had no one who could notice at me sternly in the face and shriek me as it is. My wife taught me how accountability can be achieved through accounting with the device she handled family accounting issues to the last cent. She is one very accountable person I know. Sadly, I calm spin slack in this spot. I use first and sometimes forget to support those concerned informed about my financial actions.