ENVIRONMENTAL ACCOUNTING AND REPORTING.docVIP

　　ENVIRONMENTAL ACCOUNTING AND REPORTING 　　 　　SHARE ON EMAILEMAIL SHARE ON PRINTPRINT SHARE ON TWITTERTWITTER SHARE ON FACEBOOKFACEBOOK SHARE ON LINKEDINLINKEDIN MORE SHARING SERVICESADD THIS 　　 　　RELATED LINKS 　　 　　Student Accountant hub page 　　 　　From 2013, environmental reporting will become part of the Paper P1 syllabus and, therefore, an examinable topic due to its relevance to many discussions around accountability, transparency and sustainability - key themes of the paper. This article outlines what environmental reporting is, where it can occur and its advantages and purposes 　　 　　For the 2013 exams onwards, a small but quite significant change applies to the Paper P1 syllabus in Section E of the Study Guide. It is in E7(a) and the change is the addition of the words: ‘and environmental reporting’. So E7(a) now reads: 　　 　　Describe and assess the social and environmental effects that economic activity can have (in terms of social and environmental ‘footprints’ and environmental reporting). 　　 　　Although aspects of E7 have been examined before in Paper P1 exams, it was appropriate to include the issue of environmental reporting as an explicit topic in Paper P1 because of its relevance to much of the discussions of accountability, transparency and sustainability that are important themes in Paper P1. 　　 　　WHAT IS ENVIRONMENTAL REPORTING? 　　 　　There is a debate in business and society about the limits of business accountability. Put simply, this concerns two profound questions: ‘for what should accounting actually account?’ and ‘to whom is a business accountable?’ This debate is reflected in models such as the stakeholder/stockholder continuum and in Gray, Owen and Adams’s seven positions on corporate responsibility. A common traditional belief is that businesses need only report upon those things that can be measured and that are required under laws, accounting standards or listing rules. 　　 　　A range of other pressures has increased on businesses in recent y