Accounting Theory and Issues

Running head: ACCOUNTING THEORY AND ISSUES
Accounting Theory and Issues
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1ACCOUNTING THEORY AND ISSUES
Table of Contents
Part 1:.........................................................................................................................................2
Introduction:...............................................................................................................................2
Part 2: Sustainability and Corporate Reporting:........................................................................2
Scope of sustainability and environmental reporting:............................................................2
Key points and issues of sustainable social and environmental reporting:............................3
Responsible for corporate accountability:..............................................................................3
Attempts made by Dulux Group Ltd to report social and environmental matters:................4
Approach taken for sustainability social and environmental reporting:................................5
Conclusion:................................................................................................................................5
References:.................................................................................................................................6

2ACCOUNTING THEORY AND ISSUES
Part 1:
Introduction:
Dulux group is regarded as the leading marketer and manufacturer of the premium
branded products which enhances, protects and maintains the places where people live and
work. In the recent news article the company reported the growth for its investing business
that amounted to $165 million of plant and machinery. The company reported the sales
revenue of $1.84 billion representing the rise of 3.3 per cent growth in the sales revenue.
Concerning the accounting standard the consolidated financial statements of the
company are prepared based on the historical cost basis, except for the derivative financial
instruments, investment made in financial assets and the defined obligations that is measured
by Dulux Group in terms of the fair value. Commenting upon the accounting standards Dulux
group consolidated financial statements are prepared in accordance with the general purpose
financial statements that has been prepared in agreement with the requirements of the
relevant Australian accounting standards interpretation and the corporation act (Le Blanc,
2015). The company complies with the international financial standards and the interpretation
was issued by the international accounting standards. Based on the recent annual report
Dulux Group Ltd did not reported any accounting issues. The company is consistent with the
accounting policies that is used in the preparation of the consolidated financial statements.
Part 2: Sustainability and Corporate Reporting:
Scope of sustainability and environmental reporting:
The scope of Dulux Group Ltd corporate sustainability reporting framework, practices
and culture comprises of transforming a strong company which delivers values for all of its
stakeholders over the longer period of time (Carley and Christie, 2017). The scope of
sustainability report suggest that Dulux Group Ltd aims in creating a better places and spaces