PART "B"
The Essay:
The concept of a social contract between business and society suggests that, though the main aim of a business is to make profit, it also has a moral obligation to act in a socially responsible manner (O'Donovan, 2002). This view asks corporations to accept greater social responsibility for their stewardship of natural resources (sustainability of natural resources) and other aspects of social life.
Required:
You are required to research information on the issues below, and then document the results of your research in an essay format (introduction, body and conclusion).
1. The meaning of corporate social reporting/sustainability reporting and the reasons companies would want to produce such reports and the reasons people would want to obtain them.
2. The costs and benefits of preparing a CSR/sustainability report.
3. The type of accounting concepts and standards that can be applied to a company's sustainability reports.
4. Provide your opinion on whether CSR/sustainability reporting should be voluntary or mandatory. You must justify your opinion and provide at least two points for each side of the argument
O'Donovan, G 2002, ‘Environmental disclosure in the annual report - Extending the applicability and predictive power of legitimacy theory' Accounting, Auditing & Accountability Journal, vol.15, iss.3, pp344-371.