accounting 2

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Accounting & Financial Management
AFM 102
Robert Sproule

The table below provides examples of different types of organisations and how accountability is linked to their differing organisational objectives: Organisation Objectives Accountable to (examples) Private or public - Making of profit - Shareholders company - Creation of wealth - Other stakeholders (e.g. (e.g. BP, Tesco) employees, customers, suppliers) Charities - Achievement of charitable aims - Charity commissioners (e.g. Save the Children) - Maximise spending on - Donors activities Local Authorities - Provision of local services - Local electorate (e.g. Leeds City - Optimal allocation of spending - Government departments Council) budget Public services (e.g. - Provision of public service - Government ministers transport, health) (often required by law) - Consumers (e.g. National Health - High quality and reliability of Service, Prison Service) services Quasi-governmental - Regulation or instigation of - Government ministers agencies some public action - Consumers (e.g. Data Protection - Coordination of public sector Registrar, Scottish Arts investments Council) All of the above organisations have a significant roles to play in society and have multiple stakeholders to whom they are accountable
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