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Casestudy of A current Contemporary issue in Accounting

   

Added on  2021-02-19

12 Pages2259 Words93 Views
A current Contemporary issuein Accounting

EXECUTIVE SUMMARYThe report summarizes the different social issues faced by Wesfarmer limited companywhile operating its business in the market. It explains the different CSR activity such ascampaign, awareness program, career development program, training, etc. to resolve the socialissues. It also explains the impact of social issues and CSR activities on the share price ofWesfarmer limited company.

Table of ContentsEXECUTIVE SUMMARY.............................................................................................................2INTRODUCTION...........................................................................................................................4MAIN BODY...................................................................................................................................4Current social issues and their impact on company performance................................................4Impact of social issues on share prices........................................................................................6RECOMMENDATION...................................................................................................................7CONCLUSION ...............................................................................................................................7REFERENCES................................................................................................................................8

INTRODUCTIONContemporary accounting issues refers to the corporate issues such as corruption, bribery,succession planning, IT governance, health and safety, environment, equal opportunity, growthand strategy etc. which affect the accounting function of the company. Wesfarmer limited isconglomerate Australian company and its headquarter are in Perth, Western Australia. It wasfounded in 1914 and served its product and services in different area such as Australia, India,New Zealand, United Kingdom, Ireland etc. They mainly deal in retail, coal mining and industry,chemicals, fertilizer and safety products. The study highlights the current social issues inAustralia and their positive and negative impact on Wesfarmer company. They explain that howthe CSR activities helps to deal with social issues. It also explains the impact of social issues onthe share prices of company in the market.MAIN BODYCurrent social issues and their impact on company performance.Current social issuesThe social issues such as digital changes, ethical issue and human rights, supply chaintransparency etc. affect the business of the company in both positive and negative manner. Somesocial issues can be rectified by the Corporate social responsibility while some issues can not besolved (Buchheit and et.al., 2015). The focus of government and society to reduce the carbonfootprints and carbon emission force the Wesfarmer company to improve their productivity andoperational work to maintain the sustainability of the environment. The aim of Wesfarmer is tomaintain their performance in the external environment to protect the community andenvironment to ensure that they work toward creating future value. Wesfarmer company has toface various social issues such as:Environment protection: Government and society force the Wesfarmer company toproduce this product which less harm to the society. It also forces them to regulate the activitieson regular basis to understand the impact on the society (Crane, Matten and Spence, 2019). Thecoal mining activity and chemicals production increases the pollution in the environment andalso increases carbon footprints. The different corporate social responsibility activities force thecompany to reduce the carbon footprints by controlling their activities.Positive/negative impact on company

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