This is in contrary to the normal accounting basic that has been known about debiting and crediting financials. With the current business trends, accounting as profession has shifted from just an ordinary financial profession to numerous environmental researches and an accountability when it comes to the contribution of social environmental factors. Therefore thin paper is trying to find out as to whether, Thesis: corporate social responsibility (CSR) reports provide shareholders and stakeholders with useful information on corporate social and environmental performance. Having been clarified into different segments, financial managerial and costing that are familiar to most people, must relate to the issues of finance in one way or the other. However, when it comes to corporate social responsibility, accounting would only concentrate on corporate social repotting that is considered vital to both the organization and any other stakeholders in different ways as explained in this paper (Sims, 2003). Shows accountability of democracy Corporate social reporting gives adequate clarification about the commitment to stakeholders concerning accountability, democracy and transparency. The CSR constitutes a proper clarification of social and environmental concern on factors that are never economic viable to the society as a whole as explained by divergent stakeholders theory. Besides, it gives a composer of distinct and varied number of environmental reports that clarifies about annual returns of an organization and this must be based on organizational profitability in relation to the size of the economy or regulatory environmental. Through engaging the necessary stakeholders, corporate social re
Corporate social repotting to the stakeholders Name: University: Corporate social repotting to the stakeholders Introduction Corporate social responsibility that relates entirely to corporate social repotting refers to organizational impacts to the environment and the company benefit from the sale of commodities (Sims, 2003)…
CSR is interpreted broadly as the duty of business firms to take account of the interest of a broader class of stakeholders when making business decisions and conducting business activities (Moir, 2001). To this end, a broader class of stakeholders include employees, consumers, governments, communities, shareholders, suppliers and creditors.
An organization maintains its public image through corporate social responsibility activities. This paper will support this argument by looking at the role of the CRS reports to the shareholders and stakeholders of an organization. Moreover, the paper will give the background information on the Corporate Social responsibility as well.
It is a known fact that the companies create various social problems such as, resource depletion and pollution, which negatively impacts the society as well as the environment (Moir, 2001). The increasing concerns and attention of the general public have reached this sphere which has made it almost mandatory for the organizations to count the CSR activities among their responsibilities.
This paper intends to evaluate the effectiveness of these reports in serving the above purpose as against as just mere ‘vehicles’ adopted for public relations among trading organisations. Corporate social responsibility is a common notion adopted in business models that alludes to some form of self-regulation by corporate systems.
71). The CSR reports are meant to describe a company by showing inner circle details to sooth more investors and agitate for positive recognition from the society. On the other hand, the corporate citizenship can entail the incurring of short term costs meant to promote positive environmental and social transformation but do not have immediate financial benefits to the company.
Some of the companies prepare the reports to meet their stakeholders’ needs (Moir, 2001). Other key reasons behind the reporting are the legislative purposes, as well as, developing the brand names. For many years, companies observed environmental reporting for regulatory purposes, as well as, environmental and social issues i.e.
Corporate Social Responsibility (CSR) reports are published by many corporations, but what constitutes a CSR report is still exclusive. There are many names of CSR report such as environmental, sustainability, safety, health and community affairs report. It aims to portray the relationship between an organisation and society.
To create the green equation, several factors have to be taken into consideration such as solid waste, carbon emission and electricity consumption. The main purpose of reporting CSR is for tracking the sustainability footprint of the business and to report the same to the shareholders and stakeholders of the company.
Most firms are now absorbing the cause of social responsibility either voluntarily or as a part of their strategic goals. In other cases, most firms also publish their attempts in social responsibility and CSR activities as a part of their annual publications like the annual reports.
This paper is aimed at analyzing the concept and the overall importance of corporate social responsibilities for each and every stakeholder of the company. The corporate social responsibilities of Qantas Airlines have been studied in detail to
4 pages (1000 words)Essay
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