ABSTRACT
This chapter is concentrated on finance and accounting of HEIs. The finance and accounting in universities are moving toward an increase in accountability, typical to the management of the higher education sector in general. It is worth asking a question about the evaluation of this management model. Undoubtedly, the strength is the foundation of decisions on data and their analysis, which serves measurable objectives and economic rationality. The weakness of this approach is the move toward a culture of control, which can limit academic freedom and the cost of expanding the organization's control apparatus. A good solution for fourth-wave universities will probably be to balance accountability with the autonomy of universities and academics.
