Assignment on Accounting for Management Decisions

Added on - 21 Apr 2020

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Running head: ACCOUNTING FOR MANAGEMENT DECISIONSAccounting for Management DecisionsName of the StudentName of the UniversityAuthor’s Note
1ACCOUNTING FOR MANAGEMENT DECISIONSQuestion 2Answer to [a]Triple Bottom Line (TBL) refers to a particular accounting framework having three major parts;they are social, environmental and financial. It has been seen that there are many companies around theglobe have adopted the framework of TBL to measure the performance to create greater business value(Willard 2012).Answer to [b]The reasons are as follows:Sustainability reporting is a major tool for the companies to build trust among the shareholders.The adoption of the strategies of sustainability reporting shows the concern of the companies forthe environment, community and people of community. This aspect helps in the creation ofgoodwill for the companies in market (Junior, Best and Cotter 2014).Sustainability reporting helps the business organizations in the establishment of effectivecorporate governance strategies. The companies are able to interact with various stakeholders ofthe companies with the help of different elements of sustainability reporting. It helps in the flowof information from the side of the companies to the stakeholders. For this reason, manycompanies are choosing to issue sustainability reporting (Junior, Best and Cotter 2014).Sustainability reporting provides the companies with necessary competitive advantage. As thecustomers become more concerned about environment, they prefer the companies having reportedsustainability report on a yearly basis. This is another reason for the adoption of sustainabilityreporting for most of the companies.
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