financial account theory

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Introduction
Accountancy has played a significant role in the business, and they will continue to play a
crucial role in the sustainability of the business. Globalization has resulted in more changes in
the business reporting and disclosures. Sustainability has become a great challenge for every
usiness in this competitive world. Accountants are playing a crucial role in providing assistance
to the companies in forming a sustainable strategy. Accountants are playing a crucial role in the
selecting best capital investment for the company that boosts the overall value of the company.
Shareholders wealth can be improved if the value of company improves and it is essential for the
company to become sustainable in the market. A company can become sustainable only if their
eporting and disclosures meet the various requirements of the stakeholders and accountancy
plays a major role in meeting all these requirements. Integrated reporting has become the key to
success and is essential for all companies to follow to remain competitive in the international
market. Internationalizing the reporting standards will yield a competitive advantage for
Australian companies to attract investors. Sustainability report forms an integral part of the
integrated report as it provides an overall outline about the various strategies and initiatives taken
y the business to all its stakeholders.
This paper focuses on the importance of accountancy and integrated report for Australian
companies to achieve sustainability both in the domestic and international market.
The paper begins with the relationship between the accountancy and sustainability and
later indicates about the significance of integrated report to achieve sustainability.
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Analysis
Accountancy paves the way for sustainability as they aim at improving the shareholder's
wealth by increasing the company value. Shareholders wealth of the company can be improved if
the company is making best and effective capital investment decisions that will result in boosting
the overall value of the company (Vesty, 2011). Accountancy plays a major role in making an
appropriate decision based on the qualitative and quantitative analysis. Accountancy requires
more evidence and performs a detailed qualitative analysis as and when required to understand
the quantitative data so that decision making can add more value to the company and improves
shareholders wealth. Improvement in the company’s value is essential to get a sustainable
growth, development, and position in the company. As per the International Federation of
Accountants (IFAC), it is essential for the accountants to make an in-depth analysis and set
mission and objectives that will enhance the value of shareholders and provide sustainability to
the company. Every decision making especially capital investment decision should be made after
a detailed analysis using various financial and accounting tools to ensure that they provide
support to the decision making of the company.
Accountancy improves the sustainability as they assist the company in preparing and
providing all required information about the company to their stakeholders that are crucial to
sustain in the market (AASB, 2012). Such disclosures are essential for a company to achieve
sustainable development. Every stakeholder is related to the business and is affected by the
performance and financial position of the company. As per The Australian Securities and
Investment Commission, every company that is listed should adhere to the Australian
Accounting Standard Board...