Accounting for Corporate Accountability Essay Example | Topics and Well Written Essays - 750 words

Accounting for Corporate Accountability - Essay Example Accounting for Corporate Accountability Many organisations in many countries have begun voluntary disclosure of the social environmental impacts of their activities in their annual reports. (Deecan and Unerman, 2006) These practices which have now become widespread began in many countries in the early 1990s, following considerable advances by a number of large companies to report environmental aspects of their business activities. Later-on from the mid-1990s, the reporting of social and environmental impact of organisations’ activities has become an increasingly popular practice. (Deecan and Unerman, 2006). The disclosures have often been made in the annual reports which include the financial statements comprising the balance sheet, profit and loss account and cash flow statement as well as a statement of shareholders’ equity. (Deecan and Unerman, 2006) The content of the social and environmental impact usually comprise of policies, practices and or impact of the reporting organisation on its environment. (De ecan and Unerman, 2006). The new practice today by some organisations is to separate the environmental social disclosures from the annual report as the disclosures have become widespread and extensive. (Deecan and Unerman, 2006). These organisations while publishing a summary of disclosures of social environmental impacts in their annual report publish alongside a more detailed social and environmental report in a separate document. (Deecan and Unerman, 2006).