A List Of Meanings A Non Accountant

1874 Words Oct 5th, 2015 8 Pages
Discuss and exemplify each of the significant terms used above through a list of meanings a non-accountant would understand. a. The stakeholder engagement and maximization of the value and wealth of the company.
Companies previously tended to focus on shareholders and the company itself, while things have been changed. Nowadays, it is believed that company’s mission is to maximize not only the wealth of the company, but also the wealth of the stakeholders associated with the company, Focusing on the powerful stakeholder groups is essential, while without the support from employees, suppliers, government, it is unlikely that the company can achieve its goal for every stakeholders has the potential to create value for the company over time. The close collaboration with stakeholder groups can truly lead the company to maximize its value. Therefore, preparing the non-regulatory disclosure is essential to gain support from stakeholders.

b. Non-regulatory disclosures is not a waste of money, but is to spend the least amount of expenditure on gaining the largest amount of investment. Nowadays, companies prefer to find ways of maximizing the wealth not only for the organization but for the society due to an increase in the awareness of caring the environment and the entire society. Therefore, the non-financial statement, which is also known as non-regulatory disclosures, is to disclose issues related to social, environmental and the company’s performance (Choi & Wang 2009).…
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