Sustainability Reporting in Accounting of Woolworths

Added on - 28 May 2020

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RUNNING HEAD: Sustainability Reporting in Accounting of Woolworths0Name of the studentTopic- Sustainability Reporting in Accounting of WoolworthsUniversity Name
Sustainability Reporting in Accounting of Woolworths1Executive SummaryWith the ramified economic changes, sustainability in business organization is gainingmomentum throughout the time. Woolworths Company has implemented strong sustainablebusiness functioning with a view to establish strong brand image on domestic and internationallevel. Sustainability reporting is accompanied by the process in which organizationcommunicates all the financial and non-financial information with its stakeholders either throughannual report or other financial statements. This report has put emphasis upon social andenvironmental accounting which showcases the process used by organization to communicate itssocial and environmental effects to particular interest group within the society at large. Thisreport has shown how sustainability reporting is used by Woolworths to showcaseenvironmental, social and ethical issues arise from its daily business activities.
Sustainability Reporting in Accounting of Woolworths2Table of ContentsExecutive Summary.........................................................................................................................11Introduction..............................................................................................................................32Discuss the Sustainability Reporting in Accounting of Woolworths......................................3Analyse current social issues in accounting and sustainability and their impact on variousstakeholders.....................................................................................................................................33Analysing the current and social issues in context with Sustainability Reporting inAccounting of Woolworths..............................................................................................................44Recommendation.....................................................................................................................75Conclusion...............................................................................................................................96References..............................................................................................................................10
Sustainability Reporting in Accounting of Woolworths31IntroductionWith the ramified economic changes and complex business structure, sustainabilityreporting on international level has been gaining momentum throughout the time. In the startingof this report, sustainability reporting of Woolworth has been discussed. This sustainabilityreporting in Accounting of Woolworths Company also denotes information about economic,environmental, social and governance performance of company. Woolworth has improved itssustainability reporting by measuring, controlling and evaluating the business concepts andgovernance program in determined approach. This report has shown the deep understanding onthe sustainability reporting of Woolworth and how it has implemented effective sustainabilityreporting in determined approach. The main focus of sustainability reporting of Woolworth isrelated to implementing triple bottom line in business.Present description of organizationThis Woolworths limited is major Australian company indulged in extensive retail interestthroughout the time to run its retail business on international level. The main headquarter ofcompany is in Bella, Australia having more than 67 subsidiaries (Woolworths, 2017).2Discuss the Sustainability Reporting in Accounting of WoolworthsThe retail sector continues to be in main spotlight due to its direct and indirect supply chainimpacts on the society and environment at large. Woolworths Company has planned toimplement effective activities with a view to increase its overall productivity of organization. Inthe Sustainability report of Woolworths Company has highlighted the main focus ontransformation, social development, health and wellness of employees, ethical consideration inits working, sustainable farming. In addition to this, the good business journey index ofWoolworths have been evaluated which reflects company has efficient business in terms ofsocial, economic, governance, transformational and environmental in determined approach(Ehrhardt and Brigham, 2016).
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