Financial Accounting Financial Reporting Obligations Case Study Homework Help
- November 15, 2017
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- Category: Accounting QA
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The directors of Health Food Alliance Ltd have recently reviewed their legal financial reporting obligations to shareholders and are completely satisfied that the company’s financial reports meet all the required accounting standards. However, they are aware that many companies are voluntarily reporting extra information about the effects of their businesses on the environment and society generally, and that the Commonwealth Government has been considering whether or not to set up compulsory reporting standards for these areas of activity. The directors have some knowledge, but not much, about CSR, TBL accounting, the GRI, sustainability and the idea of the ‘good corporate citizen’. They now want to know more and have asked their chief accountant to research these areas and report back to them.
Required:
As chief accountant:
a Write a report to the directors (no more than 600 words) explaining and linking the concepts shown above in bold type.
b Give arguments for and against the company voluntarily disclosing its own social and environmental reports, and make a recommendation to the directors.
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c Suggest some matters relevant to the company’s business that it might report on.
d Look up an Australian listed company on the internet that reports on social and environmental matters, download the report and attach a printed copy to your answers.