Glossary

A C D E F L M O T V

F

Financial accountability

Financial accountability tells you what policies your board should adopt or has adopted to meet their responsibility for ensuring that the organization they govern is financially sound. They would then hold those who manage the organization accountable for implementing these policies. Policy areas covered: Finances, Budgets, Asset Protection and Major Risks.

Financial accounting

Financial accounting is the area of accounting concerned with reporting financial information to interested external parties.

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