The Key Features of Public and Private Sector Organisations Free Essay Example, 2000 words

It is essential to note that accounting is not only a way to portray the financial performance of a company, but it entails guiding any decision making involving every single aspect in the company. There are two main types of organisations in the market today. These are the public and private sectors. The public sector involves organisations owned and operated by the government or their agents and are mostly set up not for profit, but to offer essential services to the public, though profit still reminds one of the objectives of such organisations. Public sectors will major in owning, producing, providing, allocating and delivering goods and services for the government or the public, on either local or international levels, with service provision being more important than making profits. The managers are government appointees, making public companies political institutions. Private organisations. These are organisations set up, owned, financed, and operated by business people with t he single aims of harnessing opportunities to make a profit. The government in private companies only plays a regulatory role through its legal framework but does not involve in any decision making in such organisations. We will write a custom essay sample on The Key Features of Public and Private Sector Organisations or any topic specifically for you Only $17.96 $11.86/page Examples are schools or healthcare faculties. Organisational hierarchy. Both public and private organisations have different staff occupying different levels of the decision-making process, though in the private sector such hierarchies may have different tag names.