Conceptual Framework and Sustainability Reporting

Running head: CONCEPTUAL FRAMEWORK AND SUSTAINABILITY REPORTING
CONCEPTUAL FRAMEWORK AND SUSTAINABILITY REPORTING
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1CONCEPTUAL FRAMEWORK AND SUSTAINABILITY REPORTING
Executive Summery
The report is prepared to explain the concept of the conceptual framework and the
sustainability reporting. The report provides the concept of both the concept and the standards
along with their application. Advantages and disadvantages. The main objective of the report
is to provide the brief understanding of the conceptual framework and the sustainability
reporting in the terms of the financial information reporting of the firm.

2CONCEPTUAL FRAMEWORK AND SUSTAINABILITY REPORTING
Table of Contents
Introduction................................................................................................................................3
Discussion..................................................................................................................................3
Part A. Conceptual Framework..................................................................................................3
History and development of Conceptual Framework............................................................3
Concerns regarding application of conceptual framework....................................................4
Benefit and limitations of the conceptual framework............................................................6
Part B. Sustainability Reporting.................................................................................................9
Comparison of Sustainability Reporting Guidelines..............................................................9
Conventional Accounting.......................................................................................................9
Sustainability and Integrated report.....................................................................................11
Criteria of integrated report..................................................................................................11
Intu Properties PLC..................................................................................................................13
Conclusion................................................................................................................................14
References and Bibliography...................................................................................................15

3CONCEPTUAL FRAMEWORK AND SUSTAINABILITY REPORTING
Introduction
The report titled “Conceptual Framework and Sustainability Reporting” is prepared
to analyse the several aspects of the corporate external reporting practices. The report discuss
about the history and development of the conceptual framework for financial reporting as per
the International Accounting Standard Board. The report also discuss about the Australian
accounting profession view in the application of the international accounting standard board.
The report also discuss the quality of the conceptual framework for financial reporting. The
report also analyse the annual report of an Australian listed company, in which the report
highlights the statements prepared by the firm, the principle used by the firm to prepare the
report and the characteristics of the information share by the firm in their annual report. For
this, the report choose the BWP Trust Ordinary Units FP (BWP) as the ASX listed Australian
company. The other part of this report compare the sustainability reporting guidelines of the
Global Reporting Initiative and the International Integrated Reporting Framework of the
International Integrated Reporting Council for the corporate social responsibility reporting.
The report also explains the rigour of the conventional accounting and the applicability of the
theories regarding the sustainability. Further, this report analyse the annual report of a South
Africa based company named Intu Properties PLC (ITU) to identify the various component of
integrated report.
Discussion
Part A. Conceptual Framework
History and development of Conceptual Framework
As per the Geoff Lamberton’s “Sustainability accounting – a brief history and
conceptual framework” the first guideline for the sustainability reporting was introduced in
the world summit on sustainable development in August 2002. The RD Hines in