Foundations in Accounting – A Critical Analysis

Added on - 18 Feb 2020

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Running head: FOUNDATIONS IN ACCOUNTING – A CRITICAL ANALYSISFoundations in Accounting – A Critical AnalysisStudent’s Name:University Name:Author Note
1FOUNDATIONS IN ACCOUNTING – A CRITICAL ANALYSISExecutive SummaryThis paper aims to present a critical analysis of the paper by John Flower named TheInternational Integrated Reporting Council: A story of failure. John Flower being a expert hasvery clearly jotted down the drawbacks of Integrated Reporting and has thus provided a scopefor the improvement of Integrated Reporting as a process. John Flower has thrown light onaspects such as sustainability, disparity between practice and theory of the principles set byInternational Integrated Reporting Council. John Flower has been partially correct with hisviewpoints, but Integrated Reporting following the proper rectifications andrecommendations can go a long way. Therefore it is not a story of failure provided there isample scope of improvement.
2FOUNDATIONS IN ACCOUNTING – A CRITICAL ANALYSISTable of ContentsPart 1..........................................................................................................................................3Introduction............................................................................................................................3Discussion..............................................................................................................................3Conclusion..............................................................................................................................8Part 2..........................................................................................................................................9Video Transcription...............................................................................................................9References................................................................................................................................11
3FOUNDATIONS IN ACCOUNTING – A CRITICAL ANALYSISPart 1IntroductionIntegrated reporting is a process that gathers material information from the financialstatements of the organization and other aspects of business like the strategy or plan adoptedby the organization, the performance of the organization and its scope to prosper in order toget a clear picture of the social, environmental and commercial context inside which it works.In short it aims to provide a clear idea about how an organization creates and maintains valuein business (Jensen & Berg, 2012).The International Integrated Reporting Council is an establishment or council whichwas created in order to support investors and other stakeholders of business taking upintegrated reporting as a method of accounting. It was launched by the Prince of Wales alongwith other international partners. It acts as a coalition of all stakeholder involved in the entireprocess of business like the regulators or investors. The International Integrated ReportingCouncil results in a clear image of the utilization and effect of the business resources onwhich the prosperity of the business depends. It creates a bridge between the organization’ssuccess and the goodwill it makes for its stakeholders (Aceituno, RodriguezAriza, & GarciaSanchez, 2013).In this study a critical analysis of John Flower’s report, The International IntegratedReporting Council: A story of failure has been presented. It aims to provide a view abouttheprediction ofJohn Flower whether his viewscan be supported or notde (Villiers, Rinaldi &Unerman, 2014).
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