International Accounting
5th Edition
ISBN: 9781260466492
Author: Doupnik, Timothy
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Textbook Question
Chapter 12, Problem 1EP
Nestlé is the world’s largest food producer and is headquartered in Switzerland. Its 2017 sustainability report is available at https://www.nestle.com/csv/downloads. Use the report to answer the following questions. Make sure to link to the report’s GRI index for a full explanation of the disclosures.
Required:
- a. What sustainability issues are disclosed as most material to stakeholders? To Nestlé? Is there a general alignment between the two sets of materiality rankings?
- b. How does the report’s information contribute to your understanding of the material issues that you identified above?
- c. Which company provided external assurance services to Nestlé?
- d. The external assurance of Nestlé’s sustainability report was more comprehensive than is the norm, especially given that many of the issues that the report addresses are global in scope. Identify highly material disclosures that were not externally assured. Why do you think that these were excluded from the assurance report’s scope?
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There are several organizations making standards for companies to follow when making Sustainability Reports.
From the list below choose the two (2) organizations that make rules for preparing Sustainability Reports.
O FASB
O SASB
GRI
O AACSB
Which of the following statements regarding CSR and sustainability reporting is false?
a.The Global Reporting Initiative is an international organization that develops the use of sustainability reporting standards.
b.Generally accepted accounting principles require firms to report CSR and sustainability efforts.
c.Many corporations use a triple bottom line approach to sustainability reporting.
d.The triple bottom line approach includes financial, social, and environmental performance components.
Companies will voluntarily disclose their sustainability practices in the annual
report.
This statement aligns with which of the following theories?
O Agency theory
o Legitimacy theory
Stakeholder theory
Stewardship theory
Signalling theory
Chapter 12 Solutions
International Accounting
Ch. 12 - What is sustainability reporting?Ch. 12 - Prob. 2QCh. 12 - What is the Global Reporting Initiative (GRI)?Ch. 12 - Prob. 4QCh. 12 - Prob. 5QCh. 12 - Prob. 6QCh. 12 - Prob. 7QCh. 12 - Prob. 8QCh. 12 - What is the primary difference between the GRI and...Ch. 12 - Prob. 10Q
Ch. 12 - Prob. 11QCh. 12 - Prob. 12QCh. 12 - What industry dominates the list of the worlds...Ch. 12 - Prob. 14QCh. 12 - Nestl is the worlds largest food producer and is...Ch. 12 - Prob. 5EPCh. 12 - Garner Pharmaceuticals is a U.S. drug company that...Ch. 12 - Clarion Bank and Trust (CBT) is a local bank based...Ch. 12 - Prob. 8EPCh. 12 - Carbon accounting standards allow companies to use...
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Regarding the preparation of Sustainability Reports and Integrated Reporting, explain why companies should conduct materiality assessments and integrate them into corporate risk assessments related to COVID-19? Hint: You are asked to provide an overview of the impact on non-financial aspects only.arrow_forward“The primary goal of accounting for sustainability is to help mitigate the impact of businesses on the natural environment”. How would you respond to this statement? Make use of examples in your explanation. Please answer this question with minimum 150 wordsarrow_forwardWhat factors have driven the demand for sustainability reporting? Refer to Exhibit 17.20 and describe the standards that exist for sustainability reporting and assurance.arrow_forward
- please help me with the sustainability indicators for csl limited and non-financial indicators Ps. Need an answer asap.thanksarrow_forwardWhich of the following statements is not true? Sustainability is defined as meeting the needs of the present generation without compromising the ability of future generations to meet their own needs. GRI standards are targeted at investors and lenders. O Corporate Social Responsibility (CSR) is the set of steps that firms take to bear responsibility for their impact on the environment and social well-being. SASB's mission is to help businesses around the world identify, manage and report on the sustainability topics that matter most to their investors.arrow_forwardAddress the current roadmap towards the convergence of one agreed upon global accounting standard. Identify specific reporting differences between the standards. Identify which resource best meets the goals of reporting companies in a given country. Also identify which standard provides the most useful information to decision makers. Frame your conversation this module around the Saint Leo core values of responsible stewardship and integrity.arrow_forward
- What is GRI Standard used for?Explain how GRI standards help in sustainability reportingarrow_forwardActing and Reporting on Sustainability Sustainability and the environment are topics of increasing importance in business and society today. Locate an article that profiles an organization from one of the sectors we have studied in this course (governments, not-for-profit organizations, and colleges or universities) and how that organization is addressing and reporting their activities related to sustainability. What can you learn about the organization’s commitment to sustainability from their financial statements and reporting? (Note: This may require more research than just one article.) Compare your findings to those of your classmates. What conclusions can you draw from the information shared?arrow_forwardChoose a company (local or multinational) of your choice and discuss how this Covid-19 pandemic might have impacted the financial performance of the company.Your discussion should not be more than 150 words.arrow_forward
- An integrated report is intended to be more than a summary of information in other communications (e.g. financial statements, a sustainability report, analyst calls, or on a website); rather, it makes explicit the connectivity of information to communicate how value is created, preserved or eroded over time. Which is NOT correct? 1. Integrated reporting can be included as part of existing compliant statements? 2. Integrated reporting can be adopted by public companies and non-profit organsiations (NGO’s)? 3. Integrated reporting is only beneficial to the providers of capital? 4. Integrated reporting address the key concepts of an organization?arrow_forwardWhich of the following is NOT disclosed in sustainability reports? a. Assessments of the impact on the local community b. Policies and practices regarding sourcing from local suppliers c. Accounting policies and estimates d. Initiatives to reduce greenhouse gas emissionsarrow_forwardSustainability reporting can incorporate which of the following? A. environmental reporting B. social reporting C. business viability reporting D. all of the abovearrow_forward
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