Introduction To Integrated Reporting •Integrated reporting framework was developed which ensured that the reports which were prepared by the management of the company had various aspects of sustainability and value creation covered in the same (De Villiers, Rinaldi and Unerman 2014). •The company which is selected for this purpose is Wesfarmers ltd which is one of the listed companies which is in Australia. •The major benefit of implementing integrated reporting framework is that the same can assist in internal decision-making process and help the business to maintain long term sustainability in the business.
Introduction To Integrated Reporting (Continued) •The company has adopted some of its own goals for the purpose of meeting the sustainability requirements and for the purpose of creating value for the organization. Some of the major goals covers certain major issues such poverty, gender equality, hunger issues, health and hygiene and climate changes.
Six Capitals •Financial Capital:The financial capital depicts the money or funds which is used by businesses for meeting the obligations of the business on day to day basis and also financing different activities of the business.The financial capital is invested in a business so that the management can generated revenues from the activities which are conducted by the business. •Manufactured Capital:The manufactured capital represents the purchased or manufactured products of the business. •Intellectual Capital:These types of capital also forms an integral part of the business and refers to the innovations and developments which are brought about by the management of the company.
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Six Capital Continued •Human Capita:The employees and staff who are working the organization forms part of human capital of the business. This type of capital closely analyses relationship which is established between the employees of the business and the management. •Social and Relationship Capital:This capital expresses the relationship which is established by the business with the external stakeholders and community at large. •Natural Capital:The nature capital comprises of natural resources which is used by the management for the purpose of ensuring that the management is able to maintain its operations.