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The objective of this research is to analyze accounting as an instrument of accountability on the communal boards of Panama. A qualitative and quantitative methodological procedure was followed for the study. The first seeks to know the criteria and contributions of researchers on accounting and accountability. The last process assesses the accounting criteria to recognize the monetary information of the communal boards and communicate to the Office of the Comptroller General of the Republic how they used the resources assigned to them. These logical methods provided monetary and non-monetary data on how public administrators in local governments used the finances granted to them to meet the social needs of the community. Therefore, it is concluded that the accounting archetype offers attributes and proportions so that community boards to know the behavior of the execution of their budget, in addition, they generate information of internal and external use for the decision-making of the administrators, reporting to the Office of the Comptroller of the Republic supreme oversight. For the latter to recommend corrective or audit actions when the goods and services contracted deviate from what was agreed. Accounting as an instrument of accountability on community boards contributes to the governance and sustainability of the well-being of society.
