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The Good Guys Sustainability Reporting in Accounting

   

Added on  2021-05-31

11 Pages2189 Words80 Views
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The Good Guys Sustainability Reportingin AccountingStudent Name:Student ID:Subject Name:Subject ID:Date Due:Professor Name:1 | Page
The Good Guys Sustainability Reporting in Accounting_1

Executive Summary Sustainability reporting has been identified to be a company’s extension of corporate socialresponsibility. The Australian Centre for Corporate Social Responsibility makes it mandatory forcompanies to adopt sustainability reporting such that social, economic and environmentalconsiderations can be made. The scope of the current discussion relates to recent issues faced inpractices or sustainability reporting. An impact of such issues on stakeholder groups towardsfinancial decision making has been provided along with certain recommendations to overcomethe challenges. 2 | Page
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Table of ContentsExecutive Summary.........................................................................................................................21.0 Introduction................................................................................................................................42.0 Analysis of current state of Sustainability Reporting............................................................43.0 Stakeholder Analysis..............................................................................................................64.0 Conclusion & Recommendations...........................................................................................75.0 Reference Lists..........................................................................................................................83 | Page
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1.0 IntroductionSustainability reporting provides an organization’s information related to economic, socialenvironmental and governance related performance (Brown, de Jong & Levy, 2009). Throughsustainable reporting an organization is able provide an improvised organizational commitmentof its internal as well as external stakeholders. Organization can enhance sustainabilitysustainable performance by measurement, monitoring and then reporting related to it. It allowsunderstanding related to positive impacts generated by the organization on economy, society forbuilding of a sustainable future. Global Reporting Initiative (GRI) provides sustainabilityreporting guidelines for understanding related to organization’s worldwide sustainability relatedperformances (Junior, Best & Cotter, 2014). The scope of the current analysis deals with currentissues arising from sustainability related reporting and implications related to variousstakeholders on financial decisions. 2.0 Analysis of current state of Sustainability Reporting Sustainability reporting provides an organization with an extended image for corporateaccountability (Adams & Frost, 2008). Certain scholars argue that sustainability reporting allowsextension of a corporate brand image to a being a better brand. As majority consumers ofservices or products of an organization comprises of the society, it becomes integral that theorganization provides a better corporate image to the society. Sustainability reporting hasbecome an integral procedure for most firms within Australia due to implications fromAustralian Centre for Corporate Social Responsibility (Manetti, 2011). The ACCSR team isaimed at creating greater value and managing impact related to corporate social responsibilities4 | Page
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