Corporate Accounting and Corporate Social Responsibility: A Case Study of Rio Tinto

Running head: REPORT 0
CORPORATE ACCOUNTING
SEPTEMBER 12, 2019
STUDENT DETAILS:

REPORT 1
Contents
Introduction.................................................................................................................... 2
Overview of company....................................................................................................... 3
Financial structure of company............................................................................................ 3
Business and operating activities.......................................................................................... 4
Finance and financial performance....................................................................................... 5
Assets – PPE and Intangibles.............................................................................................. 7
Conclusion..................................................................................................................... 8
References................................................................................................................... 10
Appendix 1.................................................................................................................. 12

REPORT 2
Introduction
The corporate Accounting is considered as specific branch of accounting. It deals with
accounting of corporations , final account’s preparation as well as cash flow statement’s
preparation, evaluation and examination of financial outcomes of company and accounting for
the particular events (such as amalgamation and preparation of consolidated). According to the
book of Howard R Bowen “Social Responsibility of Businessmen”, the CSR has described as
obligation’s set needed to be made by businessperson, in relation to framing the policies as well
as undertaking decision that is in line with the aims as well as values of the societies in whole
(Tricker, 2015). The concept is not limited to the environmental approaches, however it expands
to aligning whole value of the company with aspiration of the stakeholder in comparison with
customer, investor, dealers, workers, as well as regulators (Zientara, 2017). The international
significance of corporate accounting may be simply tracked by various international companies
established for similar that are constantly stating the issues concerning the accounting policies as
well as the social and ethical responsibilities of organisations (Jamnik, 2017). These include the
Global Reporting Initiative, UN Global Compact, Economic cooperation as well as development
organisation, World Business Council for Sustainable Development and International
Organization for Standardization (Moon, 2014).
Further, the corporate governance structure includes the practices, regulations as well as
procedures that are helpful to direct and to control the entities (Katamba, et. al, 2012). This is
usually the framework of regulations and approaches that enable the administration being fair,
transparent, as well as responsible. The company’s corporate governance structure has various
aspects such as people, practices, and structures along with rules. In the following parts, the

REPORT 3
CSR, business as well as operating activities, accounting policies of assets or others and financial
performance of Rio Tinto is discussed and assessed.
Overview of company
The corporation selected for assessment is Rio Tinto. It is one of main mineral and metal
mining conglomerates of the world. The head office of company is in United Kingdom along
with Australia (Rio Tinto, 2018). The main business of the company is manufacturing of raw
materials such as copper, bauxite, iron ore, uranium, diamond, as well as industrial minerals such
as salt, titanium dioxide, borates and gypsum. The key objective of the paper is to examine
approaches as well as policies of Rio Tinto in relation to the corporate social responsibility,
governance structure, as well as business ethics, and its implementation along with results. The
corporation carries out the CSR throughout Sustainability Committee that was headed by Ms
Megan Clark (Sustainability Committee Chairman).
In metal and mining industry, ten leading competitors in Rio Tinto are Alcoa,
Constellium, RUSAL, Hydro, Anglo American, Exxaro, Vale, Kaiser Aluminum, Anglo-
americal Group as well as Vedanta. Rio Tinto designs the long-term competitive strategies to
develop the defensive post in against of the competitors as well as gains the competitive edge
over opponents (Schwartz, 2011). Rio Tinto has the capability to complete the requirements of
market and to attract as well as retain the present clients. The company ensures that the price set
for products should be reasonable (Reuters, 2018).
Financial structure of orgnisation