Critically discuss and evaluate the current financial reporting environment. Part 1: Financial Reporting has traditionally adopted the historical cost approach to reporting the financial position and performance of an organisation.
Evaluate the current financial reporting environment
Current financial reporting environment evaluation
Part 2: Other measures of reporting the performance of organisations in key areas such as corporate social responsibility and environmental accounting are widely being adopted by corporations and other organisations, but this is widely voluntary and not statutorily regulated. You are required to critically evaluate how effective current reporting is in areas of CSR and environmental accounting, additionally consider if corporations behave ethically in such reporting and whether you think this type of reporting should be mandatory.
You should use examples/reports to illustrate the discussion.
The word count is 1,250 words.
Firstly, explain the principles of accounting required in the preparation of financial statements for different types of entities
Secondly, explain the ethical framework of financial reporting and the ‘balanced concept of the firm’
Thirdly, explain contemporary developments in financial and non-financial reporting
Lastly, ensure that the paper is at least three pages exclusive of the cover and the reference pages. Also, ensure that you include all the references you use in finding research for this assignment paper. References should be at least three for the paper. All references, citation, and writing should follow the APA formatting and styling guidelines. Finally, ensure you focus on the assignment topic in detail.
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