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Abstract

Chapter 9. Written for the senior undergraduate accounting and postgraduate student, Financial Accounting Theory retains the same basic strengths that made its predecessor a market leader. It has a writing style that is easy to read and understand, includes critical evaluation and balanced discussion of different theories of accounting that will spark student interest. The book also develops analytical reasoning by challenging students to think about accounting issues at hand, and formulate opinions. The learning objectives of this chapter are to: (1) be aware of various perspectives on the responsibilities of business; (2) be able to provide an explanation of the relationship between organisational responsibility and organisational accountability; (3) be aware of various theoretical perspectives that can explain why organisations might voluntarily elect to provide publicly available information about their social and environmental performance; (4) be aware of the theoretical underpinnings of some recent initiatives in social and environmental accounting; (5) be able to explain the concept of sustainable development and be able to explain how organisations are reporting their progress towards the goal of sustainable development; and (6) be able to identify some of the limitations of traditional financial accounting in enabling users of reports to assess a reporting entity''s social and environmental performance.

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Abstract

Chapter 9. Written for the senior undergraduate accounting and postgraduate student, Financial Accounting Theory retains the same basic strengths that made its predecessor a market leader. It has a writing style that is easy to read and understand, includes critical evaluation and balanced discussion of different theories of accounting that will spark student interest. The book also develops analytical reasoning by challenging students to think about accounting issues at hand, and formulate opinions. The learning objectives of this chapter are to: (1) be aware of various perspectives on the responsibilities of business; (2) be able to provide an explanation of the relationship between organisational responsibility and organisational accountability; (3) be aware of various theoretical perspectives that can explain why organisations might voluntarily elect to provide publicly available information about their social and environmental performance; (4) be aware of the theoretical underpinnings of some recent initiatives in social and environmental accounting; (5) be able to explain the concept of sustainable development and be able to explain how organisations are reporting their progress towards the goal of sustainable development; and (6) be able to identify some of the limitations of traditional financial accounting in enabling users of reports to assess a reporting entity''s social and environmental performance.

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