Advnced Financial Reporting Lecture 1

Question 1

What are the 3 pillars of sustainability?

Answer 1

Economic
Environmental
Social

Question 2

3 P’s

Answer 2

Profit
People
Planet

Question 3

What 3 ways must an organisation achieve for optimum balance?

Answer 3

1.Financial Security
2.Minimising negative environment impacts
3.Acting in conformity with societal expectations

Question 4

Give me 3 objectives of sustainability reporting

Answer 4

1. Legitimacy
2. Reputation Risk Management
3. Accountability

Question 5

What is the essence of integrated reporting?

Answer 5

Explaining the company’s value proposition.

Question 6

Why are environment and social accounting important?

Answer 6

Infomration of these areas can compensate for some of the limitations of traditional financial accounting.

Question 7

What is 1 limitation of financial accounts

Answer 7

Dont give sufficient insights into risks other than financial risks.

Question 8

What are the 2 concepts of achievement

Answer 8

1. Achieving through an increase in capital
2. Maintaining the financial, manufactured, intellectual, human, social and relationships and natural capital.

Question 9

4 Examples of Measures

Answer 9

1. Manufacturing
2. Intellectual
3. Human
4. Social and relationships