Essay StatsEssay Stats

  • Posted By: logan_MBA
  • Date Posted: 12/04/2010
  • Category: Business
  • Words: 1187
  • Pages: 5
  • Views: 1372
  • Rank: 763

Advances in Accounting: Corporate And Social Responsibility

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Advances in Accounting: Corporate And Social Responsibility

Introduction

Aim: To critically explore and examine both the practical and analytical interaction of corporate social responsibility in relative to the role of an accountant.


Objectives: Identifying what the term CSR means and what it means to an accountant. Examining the relationship between accountant and Corporate Social Reporting. Identifying the seven users of accounting information. Classifying the legal and mandatory requirements for reporting Corporate Social responsibility issues in the UK. Investigating why Corporate Social responsibility has various meaning based on the sector of industry you operates in. analysing both the petroleum industry and bank social responsibilities.


In this essay I shall be considering applicability of the interrelation between the terms Corporate Social responsibility and accountant.


Corporate Social Responsibility (CSR) is a concept outlining an organisations duty of care owe to all its stakeholders. The term “duty of care” simply means without any reasonably doubt the company must make a sustainable decision bearing in mind the interest of its stakeholders at heart.


CSR is the continuing commitment of an entity to act ethically in order to contribute to the economic development whilst adding extra value in terms of improving the quality of life of the workforce and the local community it operates in. this notion outlined that the primary goal of an organisation shouldn’t be solely to make profit but to serve the needs of their shareholders.


It is argued by an economist (Milton Friedman) that an entity principal goal is to maximise its return for its shareholders, while complying with mandatory laws and obligation of the countries of which it operates. Other analyst also argued that Corporation choosing to lay out a social project are doing so for utilitarian purposes, that is, they see it as a commercial benefit in building their reputation with the general public and the ...

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