The paper “ Advanced Financial Accounting Problems In Australia” is an actual example of a case study on finance & accounting. According to Burritt, & Schaltegger, (2010), corporate reporting is one of the ways through which organizations practice ethical responsibility. It enables an organization to ensure the environmental, social, and economic responsibility of the area and people surrounding their premises. Sustainability reports are presented as required in the global reporting initiative and help organizations manage and shareholders among other stakeholders to be keen on ensuring that their operations are environmentally and socially friendly.
Corporate reporting makes any organization to be careful on ensuring that any operations carried out in the organization do not affect their relationship with the community and ensure environmental protection, thus, facilitating improvement of company’ s performance and also build their reputation due to their contribution to the society. Ioannou, & Serafeim, (2011), point out that in sustainability reporting according to GRI 3, companies are expected to report to the stakeholders how the company’ s activities are impacting on the environment. They should also the economic benefits that the society is deriving from the company as well as the social impact the company’ s activities are creating for the community around them.
This essay is focused on two mining companies Leighton holdings and AGL Company which are listed in the Australian Securities Exchange. Our aim is to evaluate how they have adopted GRI 3 in the presentation of their corporate sustainability report based on the impact of their operations on the environment, cooperation with society, and the economic impact they create on the community. The paper also provides an analysis of the various items that are reported for the two companies so as to provide information on their corporate social responsibility and if each of the companies follows the requirements set up by the GRI that in sustainability reporting companies should consider the environmental, social and economic impact of company’ s activities to its surrounding.
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