ACCT 001 Lecture Notes - Lecture 18: Future Orientation, Income Statement, Financial Statement

• School: College of The Sequoias
• Department: Accounting (ACCT)
• Course: ACCT 001
• Professor: cooper

Document Summary

Energy and emission source categorized according to whether they are direct or indirect: scope helps distinguish between these. Scope 1 direct emissions: emissions over which a company has direct control. Indirect control from the generation of purchased electricity, heat or steam. Bringing together material information about an organisation"s strategy, governance, performance and prospects in a way that reflects the commercial, social and environmental context within which it operations. Provides a clear and concise representation of how any organisation demonstrates stewardship and how it creates and sustains vale. Performance is linked to economic, political social and environmental context: future orientation. Management"s expectations and plans for the future: responsiveness and stakeholders inclusiveness. Stakeholder, not shareholder, perspective: conciseness, reliability and materiality. Benefits: relevant, concise information to all parties, the whole picture, company can better understand its operations. Costs: sensitive information (disclosing strategies, risks and values, expense to collect information. Problems: measurement, can comparisons really be made, audit and assurance.