CORPORATE GOVERNANCE Definition

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CORPORATE GOVERNANCE is the system by which business corporations are directed and controlled. The corporate governance structure specifies the distribution of rights and responsibilities among different participants in the corporation, such as, the board, managers, shareholders and other stakeholders, and spells out the rules and procedures for making decisions on corporate affairs. By doing this, it also provides the structure through which the company objectives are set, and the means of attaining those objectives and monitoring performance.

Learn new Accounting Terms

BASE AMOUNT is the fundamental numerical assumption from which something is begun or developed or calculated or explained, e.g. base pay.

TRANSPORTATION OUT is part of cost of selling therefore included as selling expense, i.e. part of SG&A.

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