Accounting And Reporting On Sustainability - 1132 Words

: Accounting and Reporting on Sustainability Business sustainability has been concerned with the ensuring that organizations can implement various strategies that would contribute to the long term success of the business. Organizations that could act in a sustainable manner do not only create businesses that will live and survive for a long period of time, it will also maintain the well-being of the people and the planet as well. Leading companies are pretty much aware that their successful performance regarding sustainability is one of the key factors in their success. Investors are also interested to companies that promote sustainability with a focus on long term profitability as well as competitive advantage. Procter and Gamble Corporation was founded in 1837 in Cincinnati. The corporation was founded by William Procter, who was a candle maker along with his brother-in-law Gamble, who was a soap maker. Their combined venture sparked one of the most powerful and influential companie s in America which is later called Proctor and Gamble. Their first product was introduced in 1879. It was an ivory Soap. In the Year 2013, they have a net income of 11.31 billion U.S. dollars, total assets of 139.26 billion U.S. dollars, and a total equity of 68.06 billion U.S. dollars. The company’s products are divided into groups: beauty and grooming, and household care. The company has a target market of the customers from the middle up class. They also target women and children asShow MoreRelatedAccounting And Reporting On Sustainability1135 Words   |  5 PagesName: Subject: Instructor: Date: Accounting and Reporting on Sustainability Business sustainability has been concerned with the ensuring that organizations can implement various strategies that would contribute to the long term success of the business. Organizations that could act in a sustainable manner do not only create businesses that will live and survive for a long period of time, it will also maintain the well-being of the people and the planet as well. Leading companies are pretty much awareRead MoreSustainability Accounting And Non Financial Reporting1052 Words   |  5 Pagesa newly established area in accounting, sustainability accounting and reporting extends the traditional model of financial and non-financial reporting to incorporate the company’s operational information, social and environmental activities, and their ability to deal with related risks. Not only do these acts have effects on society and the environment, but they also directly impact company’s financial statements. The most widely accepted definition of sustainab ility that has emerged over time isRead MoreImplementation Of The International Financial Reporting Standards1385 Words   |  6 PagesTables 3.1 and 3.2 above exhibit the various local content sustainability indicators and their reporting procedures. Although the GRI is the most commonly used guideline, the two standards are often used together in a single sustainability report by oil companies . The present study combines these indicators and adopted a content analysis procedure to test whether there is any variation in the IOCs’ local content reporting before and after the enactment of the Nigeria’s local content law. The nextRead MoreThe International Integrated Reporting Council Essay1613 Words   |  7 PagesIntroduction This essay has been requested by the one of the Big 4 accounting firms in New Zealand, in which they include Deloitte, Price Waterhouse Coopers, KPMG and Ernst and Young to prepare a contextual essay in relation to Integrated Reporting (). In this document, it will pay specific attention to explaining what is , it’s emergence and deliver a reasonable judgment as to whether it should develop the new form of regulated accounting practice in New Zealand within the next 5 years for KPMG. TheRead MoreContribution Of Accountancy On Sustainable Development1485 Words   |  6 Pages FINANCIAL ACCOUNTING THEORY | BBAC502 Group Assignment â€Æ' Topic # 1 CONTRIBUTION OF ACCOUNTANCY IN SUSTAINABLE DEVELOPMENT â€Å"Bookkeepers will spare the world†, said Peter Bakker, the Chief Executive of of the World Business Council for Sustainable Development. The idea of sustainability includes working in a way that assesses an association s effects on the planet, its kin and what has to come. A developing number of bookkeeping scholastics have been lookingRead MoreAccounting Theory Assignment 21710 Words   |  7 PagesYEAR 2011 AFW 3040 – ACCOUNTING THEORY BY: SARAH WONG Assignment 2 – 1500-word Essay Topic: How social and environmental reporting practices undertaken by companies highlight the limitations of the conceptual framework. Introduction: Accountancy has always been concerned with mainly the accountability of directors to shareholders and companies to creditors. As companies grow larger and become more integrated with the society, this call for a focus towards sustainability and being accountableRead MoreGlobal Female Poverty and Sustainability Efforts1529 Words   |  6 PagesWith the world going to International Accounting Standards, poverty reduction is part of the sustainability efforts. It is suggested by (Sumner, 2005) that globalization of the worlds market economies is a root cause of increasing feminization poverty everywhere. The worlds poverty is mostly with women and minority groups, making gender and diversity a big part of sustainability. Sustainable development is meeting the needs of the present without compromising the ability of future generations toRead MoreFrameworks In Greenwashing913 Words   |  4 Pagesthrough sustainability reporting (Klettner, Clarke Boersma 2014; Soderstrom 2013). Accordi ngly, there has been an increase in organisations’ claiming their voluntary commitment to the international standards and frameworks for corporate sustainability – namely, the United Nations Global Compact (UNGC) and the Global Reporting Initiative (GRI)’s sustainability reporting guidelines (Klettner, Clarke Boersma 2014; Milne Gray 2013). According to Benn, Dunphy Griffiths’ (2014) sustainability phaseRead MoreCorporate Social Reporting ( Csr )1556 Words   |  7 PagesCorporate Social Reporting (CSR) Abstract Organizations embark on social and environmental reporting for a variety of different reasons and not to simply improve credibility with stakeholders; although that is a primary reason in many organizations. However, other organizations have different objectives altogether that can include a range of different motivations. Some models have broken the range of motivations into signaling or greenwashing or used legitimacy theory to explain the motivationsRead MoreThe Greenhouse Gas Reporting Program1355 Words   |  6 Pagesa result, governments have enacted laws that limited the amount of pollution that a firm can release. One such law is the Greenhouse Gas Reporting Program, which in a nutshell, stipulates mandatory reporting of greenhouse gases released by certain firms. In regards to the program, what is it, and what is its purpose? How does this program relate to accounting, and what role do accountants play? How will this law affect businesses? With the trend in sustainabl e operations, firms will most likely