Answer To: [18/08, 15:31] Sp: Assessment details1. Individual Assignment: Poster Presentation of a Research...
Preeta answered on Aug 20 2021
MID-TERM REVIEW
Sustainable Accounting
INTRODUCTION
Sustainability accounting is considered a subcategory of financial accounting that focuses on disclosing non-financial information about a firm's performance to external parties such as investors, creditors, government, and other authorities. It is different from Financial Accounting as it deals with economic, social, and environmental performance in such a way those suppliers, government, employees, and customers. It is done with the help of sustainability reporting, corporate social responsibility, and non-financial reporting. The motto of sustainability accounting is 3Ps - People, Planet, and Profits. Due to changing aspects of business and environment, sustainability accounting has got a much critical angle. But the studies are still having the same knowledge gaps or literature gaps similar to the time it first came to spotlight. Considering the aspect of better sustainable accounting this paper will provide a review of the gaps in sustainable accounting.
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Literature Review
Three aspects of sustainability can be considered from various angles:
Ecological factors dealing with natural resources such as water, energy, greenhouse gas, etc. also, human rights and governmental policy, financial stability, and anti-corruption are collective considerations and global considerations that rely on stakeholder finance, financial and economic efficiency.
Burritt et al., studied the potential of sustainability accounting and reporting and stated that sustainable accounting and reporting growth would be more centered on management decisions (Burritt & Schaltegger, 2010). Managerial decision-making and knowledge raising will help improve sustainability accounting and monitoring appropriately.
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Literature Review
Mitra has focused on the tradition of sustainability news in India and studied the reasons which have hindered the growth in various settings (Mitra, 2012). The major hurdle to the growth aspect was attributed to a lack of knowledge among the management and leaders in this field. There is...