However providing always benefits is not as easy, sometimes if a company doesn’t have

a good balance at providing goods, this can lead to face some consequences or even can

cause misdirection for some business like falling into failures or not being aware of

following certain rules, as for example reducing or increasing prices in illegal way can

causes negatives impact to the community in general

11 How could social costs be internalised?

Economists often urge governments to adopt policies that "internalize" an externality,

so that costs and benefits will affect mainly parties who choose to be part of it. Once

that community get to know what is the best way of internationalise social cost, even

the environmental ones, they should be conscious that limiting resources that have being

exploding environmental awareness is fundamental for nowadays

Also, incorporating new technologies to drive environmental issues could possibly seek

for aim misunderstandings between commercial policies over the environment, and also

understanding of equilibrate of cost and investment..

12 Why do you think there has been an increase in voluntary corporate disclosure

of social responsibility?

One of the reasons of why companies are willing on revealing and showing to the

community what they can offer, has been for the them probably seen like a path of

reaching success of how companies try to thrive more. The Commitment of being more

competitive, like working in a fast way using methods like sales promotions
advertisement or even marketing, The way of how business try to use different strategies

at divulgating their products in an easier and faster way, allows companies attach the

public interest over the impact to make a business thrive. The importance of knowing

what kind of pros and cons companies decisions could probably face, makes an impact

for companies being more aware to acquire the quality of responsibility over certain facts

and consequences.

13 Discuss the cases for and against the inventory approach to the disclosure of

social responsibility.

I think that depending of what terms and conditions social media and environmental

contrasts are analysed, if companies are not aware of what kind of pros and cons at the

time of them making and implanting new decisions, business who don’t tackle diverse

factor and rules like being environmental friendly and don’t commit illegal procedures,

should be at some term limited

14 Describe the quantitative approach to disclosing social responsibility.

Being aware of what king of pros and cons certainacts can be benefited or affected like

well used of advertinsing, media, or other rsourese, business should know hoe to avoid

previos consequences that can affect

Know how much they are able to spend or invest is a good initial

Know wha tkind of requrements they should show correlated to the government and the

society in general

Being hones tshowing to th society the trueness of theitr product increments loyalty
15 Describe the full cost approach to social responsibility accounting. What has

been one of the most significant problems with this approach? Explain.

16 ‘If environmental disclosures in business financial statements remain

unregulated and in the hands of individual accountants, then financial reporting of

the environmental impacts of businesses is likely to remain piecemeal and biased’

(Australian Financial Review, 22 March 1995, p. 34). Discuss. What regulations

are required to improve the quality of corporate reporting on environmental

issues?

17 Why do accountants concentrate on economic measures of performance?

18 Define sustainability reporting. What are the main characteristics of a

sustainability reporting approach?

19 ‘In a sustainability report, the economic, environmental and social impacts are

combined into a single bottom line performance measure.’ Comment on the

accuracy of this statement.

20 What is meant by verification of sustainability reports/sections? In your

opinion, how important is verification?

21 What are the GRI Guidelines? What is a GRI-based report? Can you find an

example of a GRI-based report on the internet? 2

2 Briefly describe the main features of the Carbon Pricing Mechanism. Your

answer should include comment on the options available to liable entities under the

scheme.

PART 6 ACCOUNTING AND THE COMMUNITY946

23 What is the National Greenhouse and Energy Reporting Act 2007? What is its

role within the Carbon Pricing Mechanism?

24 Are there any accounting standards on how to account for cap and trade

emissions rights schemes? Explain.

25 Explain the appropriate accounting treatment for permits purchased and

permits freely received from the government during the fixed price phase of the Carbon

Pricing Mechanism.