Advanced Financial Accounting (The FASB and IASB) - Essay Example

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Advanced Financial Accounting (The FASB and IASB)

Overview of CSR reporting Corporate social responsibility has been an integral part of corporate functions since time immemorial. It is very difficult to trace the roots of the phenomenon or how it all started but one fact is clear that corporate social responsibility has come to stay with the corporate world. Perhaps the undeniable fact is that the benefits of undertaking corporate social responsibility cuts across several quarters of business functioning including to the ordinary customer or citizen who lives in the neighbourhood of a given company. A clear instance can be given as a multinational company that makes regular end of year donation to given Children’s Hospital in all countries where they have their branches. In such a situation, the ordinary citizen in the said country will benefit from the donations that are done to hospital but the benefit will not end there as the publicity that the company will receive from the media by way of broadcasting their donations as well as the good will that beneficiaries will develop will lead to the eventual expansion of the company in terms of the company’s customer base. ...Show more

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Corporate social responsibility has been an integral part of corporate functions since time immemorial.It is very difficult to trace the roots of the phenomenon,but it is clear that corporate social responsibility has come to stay with the corporate world…
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