Accounting Research Harvard Case Solution & Analysis

INFORMATION

All the necessary information has been provided in the case. Abdullah is an ambitious engineer who is now planning to launch his own business. He is prepared for it but on the other hand, he is also very much worried about the environmental impacts of his business and the environmental accounting aspects related to his business. The focus of the UAE government related to the environment and green energy issues are increasing. Therefore, Abdullah wants guidance about how he could embed the various factors related to the environment into his financial statements.

The information related to the environmental concerns, corporate social responsibility, biodiversity, embedding the information related to the environmental activities in the financial statements of the company and making that information useful for the external stakeholders of the company. All the information used for this report has been obtained from external sources. All the information is relevant and verifiable. The information presented in this report supports our purpose and also answers all the questions related to the concerns of Abdullah which he has regarding the responsibilities towards the environmental concerns.

All the authoritative and non authoritative sources of information used in this report serve our purpose and the information is completely relevant to our issue. The information which has been used to serve our purpose and meet the goals of this report has been referenced in the reference section in the end of this report.

CONCEPTS

The concepts that have been incorporated into this report help us to meet the goal of this report. The two main concepts that have been used in this report to serve the purpose are sustainable development and corporate social responsibility. Both the concepts have been discussed in detail below:

SUSTAINABLE DEVELOPMENT

The concept of sustainable development is not a new concept. It has been enshrined on the masthead of Environmental Magazine, places, enmeshed in the aspirations of countless environmental programs, 8720000 web pages and many institutions. Humans have the ability to make the development of the world sustainable. Simply sustainable development means that humans should meet their present needs without compromising the needs of the future generations to meet their own needs. Therefore, it is the responsibility of today’s corporations to consider the issues related to sustainable development.

In the real world, we have to act on trade-offs and we can rarely avoid tradeoffs. As identified by Richard Norgaard, we can maximize only one objective at a time. All the definitions of sustainability state that we should see the world as a system which connects space and time. When we consider this world in the form of a system then we can say that air pollution that is created in North America will affect the quality of the air in Asia. When we consider this world as a system, then we will be more concerned and aware about the negative impacts our businesses could have on the environment, what are the implications and what actions the corporations need to take to embed these issues. The concept of sustainable development encompasses an organization’s social, environmental and economic responsibilities and implications. For the businesses, sustainable development is more than mere window-dressing. If the corporations adopt sustainable development practices then they could gain many competitive advantages, increase their customer bases and market shares and also boost the value of their shareholders. Becoming concerned for sustainable development is same as becoming more concerned for the wide variety of stakeholders of the company. This projects a positive reputation of the company towards its stakeholders.

CORPORATE SOCIAL RESPONSIBILITY

The concept of corporate social responsibility is gaining a lot of importance in today’s business environments. It is a concept which has become extensively dominant in the business reporting. Each corporation has a responsibility towards corporate social responsibility and all of them produce report which gives details on all of its activities related to their concerns for the external environment and all of their stakeholders.

There are a broad range of definitions concerning corporate social responsibility. It is defined as the relationship between individual citizens, government of countries and global corporations of the world. Another definition states it as the relationship of the corporation and its activities with the overall society in which the corporation operates. Another definition of the corporation defines it as the relationship of the corporation with its stakeholders.

There are many writers that have recognized that all the activities of an organization have an impact upon the external environment of the organizations, which has suggested that one of the roles of accounting now is to report about the impact of the organization regarding this matter. Carroll (1979) states...............................

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