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Corporate Social and Environmental Accouting Report - Research Paper Example
Author : jaylenmcculloug
Finance & Accounting
Pages 8 (2008 words)
Corporate Social and Environmental Accounting Report Course Number Due Date Instructor Name Introduction The concept of Corporate Social Responsibility Reporting (CSR) is a very fundamental concern in the present global business environment where competition and the need for social responsiveness has become some of the greatest concerns for most business executives…
This research paper therefore seeks to elucidate the social accounting measures put into place by ANZ Bank in Australia and Citibank in the United States. In its basic connotation, social accounting refers to the process of relaying the information regarding the economic effect of the social and environmental activities of the organization. This is analyzed in the context of particular interest groups and social units within the society. The essence of social accounting is normally the concept of corporate accountability. According to Crowther (2000), social accounting is an approach used in reporting the activities of an organization in a manner that stresses the importance of socially relevant behavior while also stressing the fact that a firm should always be accountable for its social performance. In this regard, very appropriate reporting techniques become imperative as measures of the social responsiveness of the organization. It is imperative to realize that banks constitute the largest players in the Australian Stock Exchange (ASE). Over 18 percent of the listed companies in the ASE are mostly banks while other financial institutions make up a larger portion of the top 20 companies listed on the exchange. ...