Question Answer | Financial and Management Accounting

Running head: FINANCIAL AND MANAGEMRNT ACCOUNTING
Financial and Management Accounting
Name of the Student
Name of the University
Author Note

1FINANCIAL AND MANAGEMRNT ACCOUNTING
Table of Contents
Critical Analysis..........................................................................................................................3
Answer to question 1...................................................................................................................3
Answer to question 2...................................................................................................................4
Answer to question 3...................................................................................................................6
Answer to Question 4..................................................................................................................7
Strategic initiative............................................................................................................................8
Answer to question 1...................................................................................................................8
Answer to question 2...................................................................................................................9
Answer to question 3.................................................................................................................11
Answer to question 4.................................................................................................................11
References......................................................................................................................................13

2FINANCIAL AND MANAGEMRNT ACCOUNTING
Critical Analysis
Answer to question 1
Westpac group is a bank that provides service in Australia. This firm operated in the
banking and financial service sector. The headquarters are located at Sydney, Westpac place.
This is one of the oldest banks of Australia. This bank is also one of the big four banks of
Australia. The servicesprovided by the banks are finance and operations, corporate and consumer
banking, investment, mortgages and credit cards (Westpac.com.au 2019). The bankoperates in an
open and a clear way to make strong the system of banking operations which help the bank to
deliver good outcomes to the customers of the banks. This lead the bank to create a positive
social and environmental impact for the benefit of all. The banks always rectify the identified
errors. The bank has tried to reduce the consumption of paper such as in the financial year 2016
the consumption of the paper per tones by the company was 3,304. The consumption of paper
per tones by the company in the financial year 2018 was 2,189. According to the annual
sustainable report of 2018, the bank has reduced the consumption of energy such as in the
financial year of 2016 the energy consumed by the bank was 848,658 and in the financial year
2018 the consumption of energy by the bank is 710,526. The bank has started to use waste
recycled products and have taken a target for 80% of waste diversion from the landfill to the
corporate workplaces. The positive social impacts of the bank are such as providing financial
consultation to the peoples. The bank offers services and range of products that provides better
services to the consumers of the bank. The bank have promoted and upgraded the financial
capability for different segments of consumers (Burd, Smith & Reisman 2015). The bank also
actively participates for monetary contribution during environmental disaster such as drought,
flood and donation to the army camp. The bank has also introduced an option for the cardholders

3FINANCIAL AND MANAGEMRNT ACCOUNTING
such as they can block transaction related to gambling of the merchants to resolve the issue of
gambling problem. The bank had always tried to do things that will be better for the society and
environment.
Answer to question 2
The four top banks in Australia are Commonwealth bank of Australia, Westpac group,
Australia and New Zealand banking and the National Australia bank. These banks are all take
part actively in the sustainable development. According to the analysis of the reports of these
four banks there are three scope of emission such as the stationery energy such as the Vehicle
transport and the water treatment plants, energy of electricity, energy of premises of vehicle
transport flights and accommodation. The graph shown below will help to understand the
emissions of these four firms.
Figure 1: Scope of emission of the four banks.
Sources: Australian sustainable comparable websites
The figure shows that the banks have lower the emission from before. The lowest emission for
electricity and the stationery energy such as vehicle and water transport is by the Commonwealth
bank of Australia throughout the year (Alali, Chen & Liu 2019). The other banks such as
Westpac group, Australia and New Zealand banks and National bank of Australia is same. The