Contemporary Accounting Issues: Stakeholder Theory and Adani Operations

Running Head: CONTEMPORARY ACCOUNTING ISSUES
CONTEMPORARY ACCOUNTING ISSUES
Name of the Student
Name of the University
Author Note

1CONTEMPORARY ACCOUNTING ISSUES
Table of Contents
Introduction................................................................................................................................2
Discussion..................................................................................................................................2
Stakeholders Theory...............................................................................................................2
Identification of Stakeholders Groups affected by Adani Operations...................................3
Adani Coal Mining Operations in Queensland..................................................................3
Managing Indigenous Community Interest from Ethical Point of View...............................8
Application of Stakeholders in Interest of Stakeholders Groups...........................................8
Conclusion..................................................................................................................................9
Reference..................................................................................................................................10

2CONTEMPORARY ACCOUNTING ISSUES
Introduction
Managing diversity as well as inclusivity is one of the most important topic on the
agendas of the executive. The company works for creating more diversity inside as well as
outside of their business organization. It is done for doing right things as well as making right
sense of the business. The business organizations creates the environment, which allows the
people for bringing their whole as well as true selves for working and understanding that they
could climb the ladder internally and they should feel the sense of the belongings (Kirton and
Greene 2015). The organizations creates the environment in which people of all the races,
religion, genders and socio-economic backgrounds could thrive as well as see themselves
realistically as the leaders within industry (Demetrious 2017). Hence, under this assignment,
discussion will be done on the general explanation of the stakeholder theory. Moreover,
discussion will be local indigenous community, which includes identification of the three
stakeholders groups, who are affected by Adani operations and the way they are affected.
Further, discussion will be done on management of the indigenous community groups and the
way they are managed from the ethical perspective. Lastly, stakeholders’ theory will be
applied in managing the interest of three stakeholders groups.
Discussion
Stakeholders Theory
Stakeholders’ theory is considered as the view of the capitalism, which stresses on the
interconnected relationships that exist between the business organization as well as their
communities, investors, suppliers, customers as well as others, who is having the stake in
organization (Blondeel and Van de Graaf 2018). It is the theory of the management, which
concerns itself with the various matters that are related to the ethics as well as morals in
running of the business. The approach of stakeholders’ theory helps in pointing out groups

3CONTEMPORARY ACCOUNTING ISSUES
that are organizational stakeholders (Arnautovic 2017). The theory of stakeholders suggests
that the business organization should seek for maximizing the value for their stakeholders. It
helps in emphasizing the interconnections, which exist between the business as well as all
others who is having stake into it such as community, customers, investors, suppliers as well
as employees. The business organization serves the needs of stakeholders (Brueckner and
Eabrasu 2018).
Jeffrey S. Harrison has defined stakeholders’ theory as particularly useful perspective
to address certain important issues in the business from the international perspective. It helps
in offering the opportunity for reinterpreting the variety of the models, concepts as well as
concepts that is across different disciplines (Harrison, Freeman and Abreu 2015). Moreover,
Milton Friedman has declared that the business must have to serve the shareholders’ interests.
It is the excessively capitalistic view that is discarded by stakeholders’ theory proponents.
The managers who wish that their organization should reach at their fullest potential, they
should consider stakeholders interest and they should understand the interaction between
business, stakeholders as well as managers with each other (Hörisch, Freeman and
Schaltegger 2014).
Identification of Stakeholders Groups affected by Adani Operations
Adani Coal Mining Operations in Queensland
Adani Australia is the energy as well as infrastructural company who are dedicated
towards delivering of the energy solutions for the advancing role. The Gautam Adani who led
the Adani Group has entered Australia in the year by purchasing of Greenfield Carmichael
coal mine in Galilee Basin of central Queensland. The Carmichael coal, port and railway
projects include building of the largest thermal coalmine in North Galilee Basin in central
Queensland (Khazaei, Elliot and Joppe 2015). The controversy has been aroused when Adani
has been criticized regarding polluting the coal mines. They have been criticized regarding