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Your CFO heard about the outstanding job you did on your meeting, and the accounting department personnel were boasting as to how important it is for accountants to be fully aware of corporate social...

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Your CFO heard about the outstanding job you did on your meeting, and the accounting department personnel were boasting as to how important it is for accountants to be fully aware of corporate social responsibility (CSR) and what they can do to ascertain that the company is in full compliance and being part of the ethical system of corporate America.

Based on these comments from the employees, the CFO would like you to prepare a report that discusses the following:

  • Explain the history of corporate accounting responsibility.
  • Discuss how you think that CSR has influenced social accounting.
  • Include your analysis of the potential business benefits of CSR for the company.
  • Read and cite at least 5 articles from the popular business and accounting press relating to CSR and discussing current events as they relate to professional ethics for accountants.

4 PAGE PAPER WITH APA CITATIONS

Answered Same DayDec 29, 2021

Solution

Robert answered on Dec 29 2021
38 Votes
Corporate accounting responsibility is a term which has been debated in history since very long
time. This term basically means that a business organization has duties, responsibilities and
obligations towards society also not only his owners or stakeholders. Corporate accounting
esponsibility impacts the society on hole(Tilt, 2000). It was started because of issues revolving
around interactions of companies with societies. There were lot of issues like social activities
such as product safety, human rights, environmental activities and other issues like ethics,
governance etc. Corporate accounting responsibility was earlier used for national budgeting and
other related national accounts (Stuvel., 1989).. But now days it is basically used for planning
purposes by the management. Corporate accounting responsibility also helps in involving
accounting in major part like promotion of social and environmental responsibility and also
mainly involvement in reports, audit, financial reports etc(Tilt, 2000). Corporate accounting
esponsibility is just said to be mostly concerned with the ways of treating assets and liabilities
and present it in a different form. Its priorities are always stakeholder’s accountability. They aim
at reporting annual reports and financial statements not only of companies but also between
countries (simon, 2002).
Concept of corporate accounting responsibility was started to help the management level
to have information regarding financial accounting measures in more depth (Mabaya, 2001)
Responsibility accounting helps to take out results by measuring the actual performances by
planning performances which can be acknowledged , there should be reasons for variances a,
duties and responsibilities can be fixed for any individual and most importantly procedures can
e taken...
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