Accounting Theory Research
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Added on 2020-09-17
Accounting Theory Research
Added on 2020-09-17
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Accounting TheoryResearch
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................11. Capacity of traditional corporate reporting assisting or meet the current social andenvironmental challenges.......................................................................................................12. Analysing integrated reporting as well as its limitations over traditional corporate reporting................................................................................................................................................23. Defining the way integrated reporting differs from non-financial reporting.....................34. Analysing the advantages or disadvantages of integrated reporting..................................55. Relevance of integrated reporting to stakeholders ............................................................7CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................9
INTRODUCTIONIn the present era, corporate social responsibility is highly significant which in turn helpsin enhancing the brand image of an organisation. On the basis of financial report provided byvarious companies, stakeholders who belong to the internal as well as external environment offirm uses such information and make valuable decisions. In the present assessment, chiefexecutive of Takeda Pharmaceuticals has proposed to make report over usefulness of traditionalor integrated report for company as well as stakeholders. However, there will be discussionbased on the advantages or disadvantages of such reports as well as their fruitfulness in meetingthe environmental sustainability. It will also shed light on the disclosure of financial statements,ESG, CSR as well as global reporting initiative along with their impact or efficiency oncontrolling the sustainability.1. Capacity of traditional corporate reporting assisting or meet the current social andenvironmental challengesIn consideration with preparing the financial reports for organisation, managers oraccounting professionals must include information such as carbon disclosure projects andgreenhouse gas protocols. Thus, these are the part of such financial analysis which indicatecorporate social responsibilities of organisation (Adams, 2015). The reports facilitated by TakedaPharmaceuticals Co. Limited for the assessment year 2016 describe firm's social andenvironmental responsibilities towards the patients, business as well as goodwill in the market.However, this firm is based on manufacturing drugs to give cure to society suffering from anydisease. Thus, CSR reports are the main responsibility of an organisation which describe entity'simpact over society. In includes various terms such as sustainability, corporate citizenship,sustainable development, financial statements, CSR, environmental as well as social reporting.However, in context with preparation of such reports, there is the need to make fruitful analysisof such reports as well as considering their loopholes which are needed to be resolved.Environmental, social and governance (ESG): Takeda pharmaceuticals Co. Ltd. hasengaged with proper initiative of work performance of organisation in context with protectingenvironment as well as producing less damage to it (Flower, 2015). On the basis ofenvironmental point of view, organisation has been engaged in Paris Agreement as well asSustainable development goals (SDGs). However, organisation has developed an action plan as1
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