Understanding Financial Accountability & Management

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Financial accountability refers to the accounting department being accountable to those whom they report, as well as to the shareholders of the company. Understand financial accountability as it relates to management with information from an accounting professor in this free video on business.

Part of the Video Series: Business Accounting
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Video Transcript

Hi, my name is Shawn Jones, adjunct professor here at Argosy University. Today we're discussing the topic of financial accountability and management. Financial accountability stems from the accounting department being accountable to those whom they report to, such as the Board of Directors, or perhaps even an executive board, or owners of a given company. Financial accountability also...an accounting department is also accountable to the shareholders of a publicly held business or company. The management of an accounting department or of it's financial reporting should be based upon a code of ethics that is established within the given department. This code of ethics should be centered around providing timely and accurate information, along with establishing internal controls for reporting on the company's financial statements along with other reports so that they are provided in a timely and accurate manner. For more information about this topic, please visit our website, argosy.edu. There you can find our phone number, or an address to come and visit our Salt Lake City campus.

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