Accounting Perspective and Research
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Added on 2020-05-11
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ACCOUNTING PERSPECTIVE AND RESEARCH 3 ACCOUNTING PERSPECTIVE AND RESEARCH Accounting perspective and research Author Note: Requirement 1: 1 Requirement 2: 2 Requirement 3: 5 Requirement 4: 6 Requirement 5 8 Title of the research project 8 Importance of research 8 Research Question 8 Literature Review 9 Accounting theories 11 Methodology 14 Interview questions 15 Ethics approval 15 Conclusion 16 References list: 18 Requirement 1: The significant terms that should be discussed for understanding non-accountant in area of accounting theory. This particular concept is considered as useful
Accounting Perspective and Research
Added on 2020-05-11
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Running head: ACCOUNTING PERSPECTIVE AND RESEARCHAccounting perspective andresearch Name of the Student:Name of the University:Author Note:
ACCOUNTING PERSPECTIVE AND RESEARCH1Table of ContentsRequirement 1:.................................................................................................................................1Requirement 2:.................................................................................................................................2Requirement 3:.................................................................................................................................5Requirement 4:.................................................................................................................................6Requirement 5..................................................................................................................................8Title of the research project.............................................................................................................8Importance of research....................................................................................................................8Research Question...........................................................................................................................8Literature Review............................................................................................................................9Accounting theories.......................................................................................................................11Methodology..................................................................................................................................14Interview questions........................................................................................................................15Ethics approval..............................................................................................................................15Conclusion.....................................................................................................................................16References list:...............................................................................................................................18
ACCOUNTING PERSPECTIVE AND RESEARCH2Requirement 1:The significant terms that should be discussed for understanding non-accountant in areaof accounting theory are accounting, system-based theories, sustainability reporting, non-regulatory disclosures, integrated reporting and corporate social responsibility. Accounting- Accounting can be defined as the system for the communication andmeasurement of feedback information on the process and state of organization. Accounting isregarded as a body of knowledge that is based on concepts of general principles incorporatingframework of general principles. Accounting is a comprehensive and systematic process ofmeasuring, recording, classifying, identifying, interpretation, summarizing and communicationfinancial information to their stakeholders (Benson et al. 2015). System based theories-Nature of accounting can be described using general systemtheory and the nature of accounting are described within the framework. Basic framework arerequired by accountant for enabling them to describe and determine coherence and order of theirfield of knowledge. Such reporting is integrated and holistic representation of performance oforganization in terms of their sustainability and finance (Beattie 2014). This particular theory isconsidered as useful in describing the nature of accounting Sustainability reporting- Sustainability report is the part of report presented byorganization disclosing information about social, economic and environmental impact that iscaused by their activities. It is platformthat is used by organization to communicate measure andunderstand social, environmental, and economic and governance performance for effectivemanagement. Stakeholders are provided information about the transparency about opportunitiesand risk faced by them.
ACCOUNTING PERSPECTIVE AND RESEARCH3Integrated reporting- An integrated reporting is a concept that is introduced to eloquentrange of measures in a better way and contributing to organization’s long-term value. It is asummarizing communication about how the performance, governance, strategy has helped increation of medium, short-term and long-term value. Non-regulatory disclosures-Non regulatory disclosures are disclosures that is made byorganization in their annual report that are not regulated by accounting standards. It is theprovision of information by the management of organization that is not required by Generalaccepted accounting principles. Investors’ places reliance such information, however, reliabilityof such information is doubtful if they are not regulated by accounting standards.Corporate social responsibility-It is an approach and concept of management that isused by organization to integrate their environmental and social concerns in the operations ofbusiness and interacting with stakeholders. Concept of corporate social responsibility is regardedas the approaches that assist organization in achieving a balance of environmental, social andeconomic imperative. Expectations of stakeholders and shareholders are addressed using theplatform or corporate reporting (Gaffikin 2014). Corporate social responsibility is regarded asone of intrinsic element of integrated reporting. Requirement 2:Stakeholders are the person who are directly or indirectly influence the outcome of anyproject and is impacted by the project. Stakeholders might include individual in formal andinformal representativeness, communities that are locally affected, shareholders, politicians,government authorities, politicians, group with special interest, other business and academiccommunity. A range of activities and interactionis encompassedin the concept of stakeholders’
ACCOUNTING PERSPECTIVE AND RESEARCH4engagement. There are several building blocks of stakeholders such as stakeholder involvementin monitoring project, disclosure of information, consultation of stakeholders, management ofgrievance, management functions and reporting to stakeholders (Jiang and Penman 2013). It isnot necessary that all the stakeholders in particular group share the same concerns or haveunified priorities and opinions. An organization make use of systematic approach for identifying stakeholders that are directly orindirectly affected by project. Identification and analysis of stakeholders is a challengingexercise and focusing on stakeholders and communities is not sufficient for stakeholders. It isalso required to consider such stakeholders that are adversely impacted by stakeholders.Organizations are required to engage in different stakeholder engagement practices andintegrating into the system at the stage of management. Strategies of engagement of organizationare designed by aligning with the needs of their corresponding projects (Henisz et al. 2014).During challenging times, engagement with stakeholders helps in proactively consultingrelationship that would serve as capital. Stakeholder engagement is defined as the process that is used by organization to influence theirprocess of decision-making by engaging relevant stakeholders. Concept of stakeholderengagement is becoming increasing important that helps in delivering projects successfully. Thisparticular concept is merging in a broader sense as a continuous and inclusive process between aorganization and those who are potentially impacted by such activities. Such stakeholderengagement assist organization in building better relationship between with the societies inwhich they are operating. The ultimate result of such engagement is to improve the process andplanning of business (Concannon et al. 2014). There are several approach to stakeholder
ACCOUNTING PERSPECTIVE AND RESEARCH5engagement that comprise of participation, consultation, partnership, pull communication andpush communication. All the approached of stakeholder engagement is a valid method. Organization are required to employ stakeholder engagement model and this involves:Reviewing, acting and reportingIdentification of key and relevant stakeholders issuesDesigning the engagement and process Strengthening the capacities of managementAnalysing and planningAn organization has many stakeholders and as per the stakeholder’s theory, it is required bycompanies to serve those who take stake in firms. As per the stakeholder model, there are variousstakeholders of organization that influences the operations of firms. Some of the stakeholders oforganization are investors or shareholders, suppliers, government, trade associations, employees,communities, customers and political groups (Barth 2015). One of the key stakeholders of organization is government and it is essential to maintain andestablish good working relationship with authorities of government at different levels andkeeling them informed about the activities of project. One of the fact that is highly recommendedto organization is keeping a track of government led consultation with stakeholders. Another keystakeholder is customers; it is not possible for organization to strive in any situation and complexchallenges. Business partners are another important stakeholder along with suppliers anddistributors (Bonin 2013). Successful engagement of stakeholders within organization involvesactive involvement in planning, designing and developing solutions for business.
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