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(Solved) Advanced Financial Accounting- Assignment

   

Added on  2021-06-14

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SBS Transit LtdExecutive SummarySustainability and GRI standards are the need of the hour because it described the role of the companies towards the society. The companies need to provide the benefits to the society. In this report, SBS Transit is selected for the purpose of study that is listed on the Singapore Stock exchange. The annual report of the company is discussed in terms of sustainability reporting and segmental reporting. The extent to which the company adheres to the GRI standard is discussed in the report.2

SBS Transit LtdContentsIntroduction...........................................................................................................................................4GRI reporting about the sustainability of SBS Transit............................................................................4Sustainable development......................................................................................................................7Green Effects.........................................................................................................................................7Usefulness to the public users and investors.........................................................................................8IFRS 8 operating segment......................................................................................................................8Conclusion...........................................................................................................................................10References...........................................................................................................................................113

SBS Transit LtdIntroduction GRI is a worldwide adopted global standard for sustainable reporting by the companies. This initiative known as GRI is helpful for businesses, companies, government, etc all over the world in understanding and communicating the sustainable issues relating to the business which include social, economic and environmental factors such as a change in climate, human rights, social development and well being, corporate governance, etc. The standards set by the GRI have been developed with the help of all stakeholders’ viewpoints and made for the convenience of the general public at large (Kruger, 2015). The company has to give back what it takes from society, environment and the general public at large. GRI reporting about the sustainability of SBS TransitThe main aim of GRI is the creation of overall benefits for society and the general public at large. The GRI insists on reporting by the companies about their sustainability performance throughout the year. The company shall report on what it has done for GRI and its adoption. Forex: How the company has helped it creating employment, maintaining environmental balance and control of pollution etc (Edward & Moutchnik, 2013).The main benefits of complying with GRI reporting about the sustainability information are :i. It helps in improving accountability of the company.ii. It helps in identifying and management of risks as there is complete disclosure on the part of companies under GRI (SBS transit, 2017).iii. It assists in the protection of the environment as the companies have to adhere to all the environmental rules.iv. The GRI assists the companies in the improvement of overall governance, relations withthe stakeholders, building of trust and reputation, hence uplifting the company on economic aspects (SBS transit, 2017).v. The GRI reporting benefits the society as a whole through less environmental damage, less child labor, better employment opportunities, adherence to human rights, gender equality, etc (SBS transit, 2017). Compliance with the GRI standards of the company SBS Transit Ltd :4

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