Topic: Research Individual Assignment Task Details: West Ltd is a leading company in the sale of frozen and canned fish produce. These products are sold under two brand names. Fish caught in southern...

ANALYSIS OF INCREASING SOCIAL IMAGE BY GUARANTEEING
DAMAGE COST TO SHIP ‘STEVE IRWIN’
Presented To
Chairman
West Ltd
Presented By
Financial Analyst
West Ltd
05 September,2019
Table of Contents
    Sr. No.
    Content
    Page No
    1.
    Executive Summary
    1
    2.
    Introduction
    2
    3.
    West Ltd Repair to Steve Irwin Programme
     2
    4.
    Purpose Of Study
     2
    5.
    Impact on Social Responsibility Accounting
     3
    5
    Findings
     4
    5.1
    If cost accounted for short term only
     4
    5.2
    If cost accounted for long term
     4
    6.
    Risk And Cost associated
     5
    7.
    Recommendations and Conclusion
     5-6
    8.
    References
     7
1. EXECUTIVE SUMMARY:
Our company is a leading frozen and canned fish produce company. We have two
ands namely Artic Fresh and Tropical taste. Fishes caught in southern Australian are sold under Artic Fresh
and name and fishes caught in northern ocean under Tropical taste
and name, the
and which is acquired from Fishy Tales Ltd.
We have been able to maintain our environment friendly image in the eyes of public due to the campaigns done to save dolphins from tuna fishes. Now we have an opportunity to increase this social image further by guaranteeing repair to ship ‘STEVE IRWIN’. The ‘STEVE IRWIN’ is the ship which has gain popularity due to its efforts to disrupt and stop the efforts of the whalers in southern oceans.The publicity of same an come to us if we assure the repair costs to the ship.
However , this might increase our advertising and repair expenses which will effect out income statement for one year, but in the long run with increase in
and value and goodwill our share value and profits would be increased many folds.
There are two options to account such cost. If expenses comes out low then it has to be accounted as marketing expenses of a particular year and is going to affect the profit and income statment of that year only.
But if on the other hand it comes out larger, then it has to be capitalized and has to be spread over a number of years and then is going to affect the income statement as well as balance sheet of more than one year.
The decision will also affect the social image of the company. Corporate social behaviour has become an important aspect of business society. Not only are the press and society increasingly paying attention to it, the number of companies reporting on their social and environmental achievements has also increased over the years.(Hooghiemstra, R., 2000)
Apart from profit and goodwill, Corporate Social Responsibility is also an emerging issue now days , so we can use Corporate Social Responsibility as a positioning strategy by taking this decision.We can provide the details of cost and benefits associated with this decision in corporate social accounting, and publish it for publicity of our
and and company as well to increase the social image of our company.
1. INTRODUCTION
West Ltd Company is outlined as environment friendly company. We have made this impression by various campaigns and strategies. To further increase the social image, we can do more in the same direction by launching Repair to ship STEVE IRWIN programme.
2. WEST LTD REPAIR TO STEVE IRWIN PROGRAMME
Our company sold products under two
ands name ,‘Artic Fres’ which is our own created
and which sold fishes caught in southern oceans and another one ‘tropical taste’ the
and acquired from Fishy Tales which sold fishes caught in northern oceans. Our past efforts to save dolphins from Tuna fishes has resulted in increase in social image as well as goodwill of the company.
We have opportunity to increase the social image by Repair to Steve Irwin Programme....