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Describe the main duties of an Accountable Manager. How does the holder of this position relate to the financial management?
Finance & Accounting
Pages 6 (1506 words)
ACCOUNTABLE MANAGER ACCOUNTABLE MANGER: A manager who is answerable and accountable for all his acts to another authority or some other person holding some higher rank or position is called an accountable manager. The authority to which such manager is accountable is generally the authority setting the regulations governing and directing the actions of such manager.
The accountable manager is usually considered to have some position in the Board of directors or other equivalent body of the company. This allows him a more close connection with the owners of the company. So, the objectives set by the Board of Directors contain an opinion on his part. It also assists him further to understand the objectives fully and other underlying requirements of these objectives. The presence of a person in setting objectives makes such manager more accountable as the objectives are set with full collaboration of such manager. However, larger organizations usually consist of more than one units who either dependent of each other or independently work to achieve the desired results and objectives. The regulations for each of these units are also different. So, different accountable managers are appointed for all these units who supervise the work of these units. These managers are accountable to their respective Regulatory body. Usually, accountable managers are solely responsible for the accomplishment of desired objectives. However, the tasks are not carried out by them alone. A large number of subordinates are involved and it is inevitable for the accountable manager to rely upon the work of subordinate managers. ...
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