Financial Accounting Assignment

This assignment focuses on analyzing case studies related to corporate governance, environmental reporting, and corporate social responsibility in financial accounting. It also examines the 2017 sustainable development report of Rio Tinto. The study emphasizes the importance of ethics and sustainability in financial decision-making.

Financial Accounting Assignment 1
FINANCIAL ACCOUNTING ASSIGNMENT
Table of Contents
Introduction......................................................................................................................................2
Part 1................................................................................................................................................3
Critical review of first case study................................................................................................3

Financial Accounting Assignment 2
Corporate governance and environmental reporting: an Australian study...............................3
Critical review of second case study............................................................................................3
Corporate social responsibility.................................................................................................4
Critical review of third case study...............................................................................................4
An examination of the corporate social and enviornmental disclosures of BHP from 1983-
1997..........................................................................................................................................4
Critical review of fourth case study.............................................................................................5
Environmental incidents in the development of country and corporate environmental
disclosures................................................................................................................................5
Critical review of fifth case study................................................................................................5
Corporate accountability in the Samarco chemical sludge disaster.........................................5
Critical review of sixth case study...............................................................................................6
Sustainable reporting is used to assess he footprint of copper mining on the environment.....6
Part 2................................................................................................................................................7
2017 sustainable development report...........................................................................................7
Conclusion.......................................................................................................................................7
References........................................................................................................................................9
Introduction
The aim of this study is to analyze the provided study material and critically review on
the same. The study also consist data and information related to the 2017 Rio Tintoo sustainable
development report. The report says that each and every company work for a particular goal

Financial Accounting Assignment 3
considering the goals of other people related to the business. Ethics and sustainability in financial
accounting helps the companies to achieve the same. It is done by the managers, professionals
and supervisors who make financial decisions of the company. The motive of financial
accounting is to collect and provide relevant data and information to the organization and vice
versa (Reverte, 2009).
In the current study, we will analyze the case studies of the companies and learn how
they manage their financial accounting system in an effective and efficient way. There are new
terms in the financial accounting for the business organization that is ethical accounting and
sustainable accounting. Now days they are the emerging issues and dilemmas faced by the
business organizations. The entire study will be related to the overview, reports, matter of
discussion, protection of the environment to promote ethics and sustainability, performance data
of the company, etc.
Part 1
Critical review of first case study
Corporate governance and environmental reporting: an Australian study
The aim of this case study is to analyse the relation between the corporate governance
and reporting of environment. The attributes of the business organization has affected the same
studied above. It has been said in the case study that there is a positive relation between the both.
The regulators and investors has declined that the report did not showed any negative relation
between corporate governance and environment reporting (Dhaliwal, Radhakrishnan, S., Tsang,
& Yang, 2012).
There are many strategies made by the company and the motive is to expand the
corporate governance so that the focus will divert to the corporate social responsibility.
The business organization not only in Australia but also worldwide are facing the
pressure of transparency and pressure to provide data and information to the public. It has been
declared by many of the researchers and commentators that it is now very relevant for the
companies to disclose the information to the world as they ultimately affect the reputation of the

Financial Accounting Assignment 4
same. They also have to measure the impact of the business on the social realms and public
interest (Tsang, & Yang, 2011).
Critical review of second case study
Corporate social responsibility
In this case study, the corporate social responsibility according to the alternative
perspective will be discussed. Now days, it has become relevant for the companies to adhere the
rules and regulations related to corporate social responsibility (Jenkins, & Yakovleva, 2006).
The present case study is questioning on the mining that is done in a way that directly
effects the environment. The aim is to suggest such measures that help to remediate the impact
on the environment as well as the impact on public. The aim is to safeguard the interest of
population. The focus is on the Tailings Storage Facilities (TSF) that is the source of many of the
disasters related to mining. The study has compared the outcomes of the three mines in which
two are making a disaster and only is successful working. There are huge challenges in TSF
related to techniques of mining and other also. The researchers concluded that the design of TSF
is very complicated and challenging. Technical challenge is the reason due to which TSF failed
neither political nor other challenge. The other provisions of the report suggest that a societal
scientific investigation of projects related to engineering required focus to the engineers of the
company (Mohd Ghazali, 2007).
Critical review of third case study
An examination of the corporate social and enviornmental disclosures of BHP from 1983-
1997
The aim of the study is to examine the disclosures related to the social and environmental
issues of BHP ltd which is one of the largest companies in Australia. It is a test of the legitimacy
theory for the company. The key analysis of disclosures taken place on environment and social
beliefs. It is the responsibility of organization to disclose the social and enviornmental impact of
the company as it is expected by the general public (Said, Hj Zainuddin, & Haron, 2009). The
work done and the annual reports are studied by the Guthrie and parker.

Financial Accounting Assignment 5
The study has related the social norms of the company with the concern of the social
public. There is a specific role and attention of media who highlighted the work of BHP ltd. The
study has discussed about various types of media like newspapers, Magazines, television, and
radio who help to collect the data. The great ability of media under this study is newspaper to
frame the agenda of the general public. There is a research done by Mccombs in 1981 who
claimed that there is a huge impact of newspaper and television on the perception of public as
half of the public read newspaper on a daily basis. Daily news is also being watched by the
public using television media. Newspaper has become a part of the life for the people of
Australia (Said, Hj Zainuddin, & Haron, 2009).
Critical review of fourth case study
Environmental incidents in the development of country and corporate environmental
disclosures
The case study has been conducted on a multinational gas company. The aim of the study
is to analyze the disclosure of Niko resources ltd. which is a Canada based gas and oil company.
There are two blowouts of the company that the researchers are finding out that whether the
company disclosure policy able to show the data and information linked to the concern of the
general public or not (Orlitzky, Schmidt, & Rynes, 2003).
For this, the researchers have read and examine many articles and news papers related to
Niko’s environmental and social disclosures. He has also examined the annual reports press
release, and also the social responsibility report of the year 2004-2007. The purpose of doing so
is to understand the affect of news and the pressure of media on Niko’s practices of disclosures
in relation to the local public and community of Bangladesh. It has been declared by the writer
that there is no non-financial information related to finance in the annual reports and also in the
press release as the company is taking care of corporate social responsibility towards the local
community. It is clearly said that in the environmental and social accountability and accounting
literature that there is a growth in the research. It also shows that the legitimacy is threatening the
environment disclosures of the company (Jizi, Salama, Dixon, & Stratling, 2014).

Financial Accounting Assignment 6
Critical review of fifth case study
Corporate accountability in the Samarco chemical sludge disaster
The aim of the case study is to examine the corporate accountability of the company in
Samarco chemical sludge disaster. Companies who are dealing with chemicals are vulnerable to
such disasters. The Bhopal gas leak in India is the biggest disaster ever taken place. In Alaska
also the oil spill in the coastal lines was one of the most dangerous disaster happened in the past.
The 2015 Samarco chemical sludge in Brazil has been discussed in the present case study. The
study says such mishaps happen due to the negligence of multinational companies that impact on
the social interest of the country (Hamann, & Kapelus, 2004).
In this study, we are throwing light on the corporate accountability related to the MNC’s
operation for the extraction. The corporate accountability has to be achieved in any type of
disaster taken place. The disaster happened on 5th November 2015 as there is a burst in two iron
trailing dams of the extractive industry Samarco. The population was about 600 inhabitants. The
sludge reached 879 km and approx 600 people were homeless (Farook, Kabir Hassan, & Lanis,
R2011).
If such type of situation arises, the company are responsible for the accountability for the
business especially the multinational organizations so that they can avoid the negative impact for
their activities. They have to find effective ways that focus on the social responsibility to the
affected people. The human rights also says that if there is violation of interest of any individual
taking place, than the image of the company will be affected (Mutti, Yakovleva, Vazquez-Brust,
D., & Di Marco, 2012).
Though, the company was enthusiastic to the people who were affected due to that the
company has taken effective measures to support the people. The individuals whose rights are
affected were also be fulfilled by the company (Gelb, & Strawser, 2001).
Critical review of sixth case study
Sustainable reporting is used to assess he footprint of copper mining on the environment
The energy green house gas and also the intensity of water or the footprints on the
environment of the primary global production of copper have been calculated in the present

Financial Accounting Assignment 7
study. The data and information has been collected from the reports of sustainability that were
published by the mines that are producing copper. The mines that are been taken in this study
belongs to Australia, Chile, Peru, and many other countries.
It is true that copper has became one of the relevant metal in the 21st century as it can be
used widely and multi functionally. It can be used as electrical wiring, jeweler, ornaments and
utensils also. All these things have leaded the demand of the copper very high. The extraction of
the copper form the mines have also increased (Weaver, Jansen, Van Grootveld, Van Spiegel, &
Vergragt, 2017). The data has shown the mining of copper. The annual production of the
company for copper products is very high. ICA is a company that works on the production of the
copper that has been taken place in Australia. CSIRO is the previous organisation that worked
the same before. The company has a huge plant for the copper mining which impact on the
global warming potential by 3.3 kg. The issues are the emission of the GHG’s. The researchers
have found the sustainable data available about the company that has also provided the
operational data used by ICA. There are many opportunities for the company to improve the
standards by clearly specifying the energy types for every stage of the mining.
Part 2
2017 Sustainable development report
The aim of this report is to establish the sustainable development. It comprises of all the
measures that can be used in sustainable development in the 2017 annual report. The idea is to
promote the safety for the people who are related to the company like stakeholders of the
company and other people (Rio Tinto, 2018). They also said that there s a huge strength in the
partnership as shows in Rio Tinto as the company is always been able to achieve their goals and
objectives. They follow the code of conduct and work as a team in the company. The business
cycle of the company revolves around the partnership as they believe in strengthening; the
company is very much inclined to sustainability as shown in their operations. They pioneer the
future by their hard work as they have more than 47000 pioneers who perform work in their
company (Di Fabio, 2017).
The work done by the organization is to pioneer the manufacturing and production of
material that is important for the progress of the human. They produce metal and minerals that

Financial Accounting Assignment 8
are used in meeting the needs of the consumers. The production done by them is used in daily
consumption. They have many innovative techniques ha make the wok not only easy but also
fulfill the social regimes. The company shared value for each and every pepsin related to the
same (Holden, Linnerud, Banister, Schwanitz, & Wierling, 2017).
Conclusion
The aim of the study is to promote the corporate social responsibility for every
organization that is working in the society. It is not only the concern of the government of the
country but also the organizations who are actually dealing with the same. The policy makers of
the organization must keep in mind that they are working in the society so they have to take care
of the public interest of the individuals. The companies on which the case studies have been
discussed are multinational companies whose responsibility towards social responsibility
becomes more. CSR has a significant role as they want accountability for the mishaps and
problems takes place in the society. It ultimately benefits the local public of the particular
country or area.

Financial Accounting Assignment 9
References
Charles Jr, O. H., Schmidheiny, S., & Watts, P. (2017). Walking the talk: The business case for
sustainable development. Routledge.
Dhaliwal, D. S., Li, O. Z., Tsang, A., & Yang, Y. G. (2011). Voluntary nonfinancial disclosure
and the cost of equity capital: The initiation of corporate social responsibility
reporting. The accounting review, 86(1), 59-100.
Dhaliwal, D. S., Radhakrishnan, S., Tsang, A., & Yang, Y. G. (2012). Nonfinancial disclosure
and analyst forecast accuracy: International evidence on corporate social responsibility
disclosure. The Accounting Review, 87(3), 723-759.
Di Fabio, A. (2017). The psychology of sustainability and sustainable development for well-
being in organizations. Frontiers in psychology, 8, 1534.
Farook, S., Kabir Hassan, M., & Lanis, R. (2011). Determinants of corporate social
responsibility disclosure: The case of Islamic banks. Journal of Islamic Accounting and
Business Research, 2(2), 114-141.
Gelb, D. S., & Strawser, J. A. (2001). Corporate social responsibility and financial disclosures:
an alternative explanation for increased disclosure. Journal of Business Ethics, 33(1), 1-
13.
Hamann, R., & Kapelus, P. (2004). Corporate social responsibility in mining in Southern Africa:
Fair accountability or just greenwash?. Development, 47(3), 85-92.
Holden, E., Linnerud, K., Banister, D., Schwanitz, V. J., & Wierling, A. (2017). The imperatives
of sustainable development: needs, justice, limits. Routledge.
Jenkins, H., & Yakovleva, N. (2006). Corporate social responsibility in the mining industry:
Exploring trends in social and environmental disclosure. Journal of cleaner
production, 14(3-4), 271-284.
Jizi, M. I., Salama, A., Dixon, R., & Stratling, R. (2014). Corporate governance and corporate
social responsibility disclosure: Evidence from the US banking sector. Journal of
Business Ethics, 125(4), 601-615.

Financial Accounting Assignment 10
Mohd Ghazali, N. A. (2007). Ownership structure and corporate social responsibility disclosure:
some Malaysian evidence. Corporate Governance: The international journal of business
in society, 7(3), 251-266.
Mutti, D., Yakovleva, N., Vazquez-Brust, D., & Di Marco, M. H. (2012). Corporate social
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Argentina. Resources Policy, 37(2), 212-222.
Orlitzky, M., Schmidt, F. L., & Rynes, S. L. (2003). Corporate social and financial performance:
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Pradhan, P., Costa, L., Rybski, D., Lucht, W., & Kropp, J. P. (2017). A systematic study of
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Reverte, C. (2009). Determinants of corporate social responsibility disclosure ratings by Spanish
listed firms. Journal of Business Ethics, 88(2), 351-366.
Rio Tinto, (2018) Sustainability development report, retrieved from
https://www.riotinto.com/documents/RT_2018_Sustainable_development_report.pdf
Said, R., Hj Zainuddin, Y., & Haron, H. (2009). The relationship between corporate social
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Weaver, P., Jansen, L., Van Grootveld, G., Van Spiegel, E., & Vergragt, P. (2017). Sustainable
technology development. Routledge.