Sustainable Development Case Study

Organization’s Introduction

Founded in 1872, The Kimberly-Clark corporation is a multinational corporation (NYSE symbol: KMB) which manufactures and engages in the marketing of consumer products made from natural and synthetic fibers. The company consists of 3 business segments; Personal Care, Consumer Tissue, and K-C Professional (KCP).

The personal care segment produces products related to feminine, family, baby & child and adult care. The Consumer Tissue segment offers products such as bathroom tissue; paper towels, napkins etc. and the K-C Professional (KCP) help make the workplace for employees much safer, healthier and more productive by providing products such as sanitizers, tissue, towel, soaps etc.

The company headquartered in Dallas,

Role of Accounting Function regarding Sustainable Development:

According to the World Business Council of the Sustainable Development (WBCSD):

“Sustainable development is a form of progress that meets the needs of the present without compromising the ability of future generations to meet their needs.”

The above definition tells us that businesses in present have to progress in way that it doesn’t bring damage to its wider environment and have to use the resources (natural) as efficiently as possible. Now the question arises that how the business’ stakeholders would know the progress it is making regarding sustainable development or the measures it have taken to become more sustainable.

Here once again the accounting function would come to the rescue!

One of its main roles regarding sustainable development is to help produce non-financial information relating sustainability policies to the same standards as financial information, both internally for management purposes and externally for the valid concerns of multiple stakeholder groups.

Role of Accounting Function in the light of

Economies and Businesses are run on this system. One main characteristic of Free-Market economy is that it’s unjust, although it creates substantial amount of wealth for the investors and risk takers but on the expense of the little man, in short its distribution of wealth is unbalanced. The free-market approach is similar to Utilitarianism, From a Utilitarian Perspective, every decision or outcome is right, given that the total utility is maximized. It does not bother with the disadvantage one part of the society will get in order to give maximum profit or utility to the other part. The Accounting function is an important part of this system, and as a result it helps businesses and economies to provide reports and financial information reflecting activities of the business. And by looking at the way things work in a free-market economy, it won’t matter if the business outcome is disadvantageous to some part of the