Teachings and biographies of Prophet Muhammad (peace be upon him) and his rightly guided caliphs are perfect examples for the people from all walks of life. They have also complete light and guidance for those holding public offices. This paper studies the three important aspects of teachings and conduct of Prophet Muhammad and his companions to seek guidance for government officials about their responsibilities regarding relevant positions and resource. It argues that if the government officials follow the teachings and Sirah of the Prophet and his rightly guided caliphs; keep the concept of accountability in their mind; avoid the love of wealth and possessions; adopt asceticism; keep in mind the teachings of the Prophet and the Righteous Caliphs regarding justice, honesty and accountability; keep an eye on the Hereafter and be free from the lust for worldly wealth and glory for the sake of higher goals; adopt justice and refrain from dishonesty; keep reviewing their deeds and show the same kind of responsibility in the use of government positions and resources as the Companions of the Prophet, especially the Rightly Guided Caliphs did, they and their institutions and the entire nation will prosper and become as ideal as the Muslims of the early centuries. The article concludes that the referred teachings and conducts, if observed, can lead the government official of our time towards excellent moral values of self-accountability, abstinence and honesty. And these values have a key role in making a society and its individuals successful and prosper.