Peter Bakker's Article 'Accountants Save The World'
In the article Accountants Save the World by Peter Bakker, one of his casual claims is that “to address current economic crises in a systematic way, we must begin to demand a return on social and natural capital as well.”1 As a result, Bakker felt that shareholders would not recognize a company's' social accomplishments if it is not captured in financial reports. However, it could be that shareholders do not put social capital into financial statements because they believe that the only social responsibility of business is profits, like Milton Friedman. Therefore, demanding a return on social and natural capital would be ineffective if the majority of shareholders agree with Friedman's view. Furthermore, in David C. Korten's article When Corporations
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899 Words | 4 PagesFair value accounting (FVA) has pros and cons itself. It depends on how the fair value applied by the companies. Supporters of FVA argue that FVA can increase transparency for presenting financial statement to the third parties (Ian E. Scott, 2010). Increased transparency allows users to better understand financial performance and true picture of the company and gain additional insights in making decisions. According Zijl and Whittington (2006), fair values are useful for investors and increase transparency.
The Importance Of Accounting In Accounting
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Stephen M Ross School Of Business Essay
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Explain How Do Managerial Accountants Support Strategic Decisions
894 Words | 4 PagesHow do managerial accountants support strategic decisions? Management accounting is a profession that involves partnering in management decisions, arranging planning to performance management systems, and providing expertise in financial reporting and control to assist in the formulation and implementation of an organization's strategy. Managerial accountants look at a variety of events that happen in and around a business while considering the needs of the business. Once completed data and estimates surface, cost accounting brings the estimates and data into knowledge that will eventually be used to guide decision-making. In managerial accounting, managers use the collected information to get better informed before any decisions are made within their organizations.
Era Of Corporate Social Responsibility
1139 Words | 5 PagesIn the 1960s, we began to see scholars striving to best state what CSR meant (Carroll, 2008) . Among scholars, who contributed to defining the corporate social responsibility on early stages, were C. Walton with his book Corporate Social Responsibilities (1967), which analyses the role of business organization in society, William C. Frederick with the article The Growing Concern over Business Responsibility (1960), which suggests new ideas how to judge your responsibility, as a businessman. Joseph McGuire`s Business and Society (1963) also significantly contributed to the studying
Pros And Cons Of Executive Compensation
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Mental Accounting Theory
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Corporate Social Responsibility In IKEA
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Purpose Of Economic Globalization
933 Words | 4 PagesFor instance, NAFTA increase foreign investments for Mexico, but it causes a lot of Mexican people lost their jobs, and there are many local factories closure. In contrast, Legrain has the opposite opinion to the transnational corporation. In chapter 5, he states that use a huge company to compare with a country is unreasonable. Companies are not powerful as a country. I agree with Legrain’s opinion, companies will try their best to attract consumers, but they can not force them to purchase their products.
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