SQue The European Commission adopted on 16 April 2013 a proposal for a directive enhancing the transparency of certain large companies on social and environmental matters. This Directive amends the Accounting Directives (Fourth and Seventh Accounting Directives on Annual and Consolidated Accounts, 78/660/EEC and 83/349/EEC, respectively). The objective is to increase EU companies’ transparency and performance on environmental and social matters, and, therefore, to contribute effectively to long-term economic growth and employment. Companies concerned will need to disclose information on policies, risks and results as regards environmental matters, social and employee-related aspects, respect for human rights, anti-corruption and …show more content…
To work up to and beyond the minimum, rather than simply waiting for someone else to change anything and then changing when they have to. Advantages of Social Accounting and Reporting • Social accounting will provide you with an ongoing record of how your organisation or enterprise has developed and changed over time. • You will get feedback on how things are going from the range of people involved in your organisation or enterprise. • You will be able to identify the areas where things are working well and not so well—and you can use this information to help continue what you are doing well and make improvements to change what’s not working so well. • You will know how well you are achieving your aims and values. • You will have a record of what your organisation or enterprise is doing and the sorts of impacts it is having—information you can use when applying for grants and funding, for reporting on grants, and for promoting what you do. Principles of Social Accounting Social Accounting and Audit uses eight key principles to underpin its process, ensure verification is effective and deliver continuous improvement. These are: Clarify Purpose Define Scope Engage Stakeholders Determine Materiality Make Comparisons (benchmarking) Be Transparent Verify Accounts Embed the process Using these principles enables the organisation to maintain effective social accounts, enables them to be verified and ‘signed off’ and provides a
A significant positive impact on my career came in the shape of record keeping and auditability. This became exceptionally important during a scenario in 2015. We received a significant shipment of weapons parts, the items were processed into the system and brought to the storage section to be stored in the vault. The items were place in the proper bin placement and were secure to the vault. Thirty days later and inventory commenced and it was identified that a weapon part was missing. This item was sensitive in nature and would have caused a significant emotional event and cause for an eventual Inventory Adjustment Report with a follow on investigation. As I conducted my causative research I was able to narrow down to the individuals who processed the items by using reports found in GCSS-A. I was able to identify the exact dates the items entered the SSA, who processed them, who put them away, and who confirmed the processed. This allowed for us to find the missing items in less than one day. We were able to keep this prospective nightmare in house and create a learning
The Triple Bottom Line (TBL) accounting concept and framework was first created by John Elkington in the mid 1990’s, and has since changed the way for-profit, non-profit and government agencies measure the sustainability of their initiatives and company. The TBL framework is flexible and can be adopted and molded based on the specific needs of an organization. The framework is comprised of three parts, which are: social (People), environmental (Planet), and financial (Profit), commonly referred to as 3Ps. This framework does spark debate regarding the ethical problems behind measuring, quantifying and accounting for social and environmental variables, which is often not supported by many
I expect to learn how many employees are happy and how many are not, with their job.
Publicly traded companies are subject to the reporting and disclosure requirements of the Securities Exchange Commission (SEC). The laws that govern the securities industry were established to provide transparency to investors, creditors and shareholders alike. According to Hoyle, Schaefer & Doupnik, (2015) there are seven major disclosure requirements, the first being a five-year summary of operations to encompass sales, assets, income from continuing operations. Followed by a description of business activities, a three year summary of industry segments to include foreign and domestic operations, a list of company directors and executives, quarterly market price of common stock for the last two years, restrictions on the company’s ability to continue paying dividends, and finally, an analysis of the company’s financial condition, changes in the conditions and results of operation.
Finally, I believe is important for companies to follow ethical standards that could assist them to make responsible decisions. The ISO 26000 standards is a document that addresses responsible practices related to organizational governance, human rights, labor practices, the environment, fair operating practices, consumer issues and community involvement and development (Ajeti, S. R., 2016, para. 2-4). for example, When Chevron faces difficult situations, they try to resolve them by answering four questions: (1) is it legal? (2) Is it consistent with the company policy, including human rights policy? (3) is it consistent with the chevron’s core values? (4) if it were made public, would be I be comfortable? (Chevron, 2015, p.
Response: There are many resources to help departments reach there goals and objectives. The organizations high communication level and interaction cause benefit to departments assisting and complimenting each other. There has been a constant and gradual increase in employee productivity and goals are normally reached. The company has recently experience growth due to the
Feedback- This area refers to the ongoing information that employees receive in the performance of their jobs. At my job, we receive feedback, letting us know that we exceeded the standards for call wait times or if we have not met this standard. Feedback also goes back to the management in that they become aware of the situations.
You communicate, so individuals do not get anxious or worried, and you can listen to their concerns.
• When would you like to engage in a similar review of the situation? Who Is Involved in a Review of Performance?
This can range from providing meeting itineraries to giving follow up emails that ties together all the information presented. Having tangible and well organized material can help others to work towards the same goals. I will work with my subordinates to formulate and achieve their personal goals.
This report examines the new world of sustainability reporting, and the complex web of stakeholders. It focuses particularly on the demands for new kinds of transparency which serve the interests of the environment and society.
Positive relationships with people within an organisation ensure effective sharing of successful practice. If there is good communication between colleagues, managers and supervisors, it also means that the service will run smoothly- everyone will know their role and responsibilities, and the roles of others- mutual respect for each others work and the ability to support one and other in daily work or in a crisis.
To have a record of how the business is running. This allows us to determine how the business is sitting financially and display what money is going where and whether there is room for improvement. Basically, it is used to anaylse the business as a whole and to determine performance for both employees and for the organisation.
* Seeking feedback is important because it gives a worker some idea of how they are working - what they are doing well and what could be improved.
First, have a definite, clear practical ideal; a goal, an objective. Second, have the necessary means to achieve your ends; wisdom, money, materials, and methods. Third, adjust all your means to that end." ~ Aristotle