Board of Directors

The Board of Directors is individuals elected by a company's common shareholders to represent shareholders and set company policies. The board of directors appoints the company's officers and declares dividends on common and preferred stock.

A board of directors is a group elected by shareholders to oversee the company, set strategic direction, and appoint senior management. The board also approves major policies and governance decisions.

- Used to explain the concept in accounting and business contexts.
- Used when training staff or documenting procedures and policies.

- Example: Teams reference **Board of Directors** when defining terms in manuals, policies, or training materials.

- Why it matters: Improves clarity and consistency across documentation and decision-making.