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International Financial Accounting and Social and Environmental Theory
Finance & Accounting
Pages 8 (2008 words)
Running head: International Financial Accounting and Social and Environmental Theory International Financial Accounting and Social and Environmental Theory Insert Name Insert Grade Course Insert Tutor’s Name 18 November 2011 Outline Introduction Development of Accounting Practices Social and Environmental Influences Conclusion International Financial Accounting and Social and Environmental Theory Introduction Social and environmental theory in financial accounting attempts to outline how information stakeholders and social environments are interrelated.
The primary issue concerning social and environmental theory is the way the society determines developments, goals, and innovations in accounting practice. It is generally agreeable that the society and environment in which accounting practices are applicable affects its development to some extent. However, the extent and the framework with which the social and environmental theory has influenced current accounting practices is a matter of dispute. Actors in this theory are the members of society being users, accountants, and generally stakeholders of accounting practices. Development of Accounting Practices Stakeholders in the society are considered to have control over accounting practices, their developments, and the directions in which such developments take place, to some extent within a given social setting. The influence of practices and developments is referred to as agency, where stakeholders in the society have the ability to influence accounting practices toward attaining some end. The level of accounting practices largely depends upon the kind of environment those stakeholders come from. ...
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