Accountability

One of the most elusive concepts in management is accountability. In leadership roles, accountability is the acknowledgment and assumption of responsibility for actions within the scope of a role or position, encompassing the obligation to report, and be answerable for resulting consequences.

So what does this really mean? A senior manager cannot delegate responsibility, he can only delegate authority to a subordinate and then hold that subordinate accountable for due performance. One of the biggest mistakes managers can make is to continuously frustrate their employees by not holding them accountable. Click here for more information onĀ Accountants in Sheffield.

Believe it or not, it can frustrate your employees as much as it does you. Accountability is the key to achieving results and helping identify the opportunities in your organization. Holding employees accountable helps them to know the satisfaction of achieving a goal and performing to a standard.

There are five basic requirements for creating accountability. It’s good to ensure you have:

  • Understood Objectives – the subordinate should understand what the they and their workforce try to achieve;
  • Purchase in – subordinates should imagine in the goal and be part of the success;
  • Benchmarks and a Quantifiable Outcome – subordinates need milestones and a consequence that may be measured;
  • Two-way Suggestions – feedback from the supervisor to the subordinate and from the subordinate to the supervisor;
  • Evaluation – once a objective is achieved, rejoice the success. Conversely, don’t shy away from criticism if efficiency falls short.

To be successful, the manager should also hold himself accountable to following through with accountability. One of many largest failures is to begin the process and never comply with by means of with it. This causes the subordinate to lose respect for the process and to query a supervisor’s commitment, which may undermine your complete organization. Once accountability turns into a part of your management model, you will see improved results and extra happy employees.

Do Americans actually believe that a progressive tax system will lead to socialism?

Question by kade: Do Americans actually believe that a progressive tax system will lead to socialism?
Or is it just the media trying to make them look like idiots?

Most of the worlds westerised countries have a progressive tax system. Its a good idea and it works.

Best answer:

Answer by Galaxie Girl
“lead to”? A progressive tax system *is* socialism, even if just a mild form of it.

What do you think? Answer below!

Personal Finance and Business Question. Any advice for me?

Question by aimhigh1184: Personal Finance and Business Question. Any advice for me?
I am going to get my masters in Physicians Assistant in a couple of years and I am going to go into Cardiovascular Surgery as a Physician Assistant when im 23 years old. They make about 120k+. However I don’t plan on getting married until 28… I realized its better to be older before getting into a real relationship. But I want to know what side business I could open up and focus on after my shift as a PA is over. When im 23 and I would have payed off my loans because Im going to work part time as a PA when im 21. I will also take out a 150k home equity loan on my parents house, Yes i understand the risks but I will pay off the payment of about 2.5k every month myself. I’m going to take out the loan as a downpayment on a 2 family house. That mortgage will be likely payed off using the rent income from my house, trying my best to keep intents in there. But I plan on selling the house after maybe 10 years hoping to get 300k for a downpayment on a bigger house. But what type of business Could i do ? My uncle has a very successful limo service making millions yearly and my other uncle owns 2 two family houses and is very successful. Any advice for me?

Best answer:

Answer by sunshine
Slow down, concentrate on one thing at a time. You are guessing you pass the exams, guessing you get a job locally, guessing you can get a loan. Your building your future on suppositions and that is foolish

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We bought a house in Minnesota last year. Should we be getting a form for property tax deduction purposes?

Question by Minnesota_Slinger: We bought a house in Minnesota last year. Should we be getting a form for property tax deduction purposes?
We bought a house last year (our primary residence) in the fall. We bought about halfway through a six-month property tax cycle. (I don’t know how other states are, but in Minnesota, people pay property tax for the first half of the calendar year and the second half of the year.) At the closing, we reimbursed the sellers for our portion of the July-Dec 2006 property tax, which was several hundred dollars. However, besides a line on our closing forms that notes the amount paid to reimburse the sellers for property tax, I have no form that acknowledges what we paid for property taxes. So, are we legally entitled to deduct the property tax we paid? Also, does the government (state or county) need to send us a form, or is the official closing document that states the property tax reimbursed to the seller sufficient for safely itemizing that amount? (Our deductions exceed the standard deduction by several thousand dollars, so we are definitely itemizing.)

Best answer:

Answer by nickfromct
In addition to the amount on your closing statment, if you have a mortgage, whatever taxes the bank paid will be on your year-end statement. If you don’t have a mortgage, It’ll be whatever you paid to the taxing authority directly. Taxing aurthorities generally don’t send out statements on taxes paid. However, you can request one. And yes, the closing statement is sufficient documentation to take the deduction.

What do you think? Answer below!

Q&A: What does it mean that the federal income tax is a progressive tax?

Question by :Anonymous:: What does it mean that the federal income tax is a progressive tax?
What is a federal income tax and what is a progressive tax?
What is similar about these two different taxes?

Best answer:

Answer by Veevee
I think it means…you always have to pay it and they charge what they feel like each and every year? The federal government i mean.

Give your answer to this question below!

What’s the difference between tax brakets and progressive income tax?

Question by Edward: What’s the difference between tax brakets and progressive income tax?
I see New Zealand uses tax brakets instead of progressive tax, but isn’t it still progressive if it targets different levels of income?

Best answer:

Answer by stephen_toon
tax brackets are part of a progressive tax system

http://en.wikipedia.org/wiki/Tax_bracket

What do you think? Answer below!

Self employment tax?

Question by sam & jack: Self employment tax?
I calculated my expected self employment income for 2006 in January of 2006 and paid $ 1500 in tax for each of the first 3 quarters; then I went on disability (had a baby) and had hardly any income for the fourth quarter (which I didnt plan on when I had initially calculated my tax installment payment last January). I have calculated that I have already paid (in my first 3 installments) more than I will owe in taxes for the year. Do I need to pay self-employment tax on my fourth quarter earnings? If I dont will I be charged interest/penalties even though I have overpaid already?

Best answer:

Answer by rhubardpi
No you need not pay in for fourth qtr. if you have already paid in more than you will owe for the yr. There will be no penalties or interest. Was it boy or girl?

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Personal Finance for a 20 year old?

Question by hansbockler: Personal Finance for a 20 year old?
Hey, I’m a 20 year old college student and I want to learn about personal finance. Can someone give me an idea of where to start? A book to read? Personal advice of any sort? Roth IRA? Mutual Fund? I hardly know the difference between the two, but can someone give me an idea of how to safely and securely begin investing money?

Best answer:

Answer by ash
http://money.cnn.com/magazines/moneymag/money101/

What do you think? Answer below!

Q&A: I am seeking advice on what personal finance & tax preparation software to use.?

Question by CoffeeShoper: I am seeking advice on what personal finance & tax preparation software to use.?

Best answer:

Answer by halestrm
I use Quickbooks for our finances (and put in everything at least once a week.) Sorry about tax prep. When I did it myself I used TurboTax and was very happy. Haven’t used it in 3 years so I cannot tell you if it is still as good.

Even with Turbo Tax I had my CPA look over the last few years I filed. They found me another $ 700, which paid for the visit.

Hope this helps.

What do you think? Answer below!

what can i do to get financal aid for comunity college if i’m married and have NO kids and make ok money?

Question by Tony: what can i do to get financal aid for comunity college if i’m married and have NO kids and make ok money?
i have a lot of bills and each class with books its about $ 450.00

Best answer:

Answer by Danielle
fill out your FAFSA and apply for a stafford loan. look for grants. research scholarships you can apply for online. this all takes a decent amount of work but if you’re dedicated you can do it.

Know better? Leave your own answer in the comments!