To identify and apply theories and models in accounting to a current topical issue

To identify and apply theories and models

Requirement of report;

To identify and apply theories and models in accounting to a current topical issue related to a corporation of choice

Find a news piece related to chosen firm’s issues. Pick one issue, CSR / CMR

Identify and rationalize with appropriate accounting theories, the motive, effectiveness and impact of the firm’s CSR/CMR disclosures in addressing these issues

Based on the case findings, make recommendations on CSR/CMR reporting at the corporation level as well as at regulatory level.

Emphasis must be given to effectiveness of CSR/CMR disclosures

Critically analysis covering the main theory elements of the course – reference to corporate reports

Min 10 sources

Group report : 2500 words,

Title Page

Executive Summary (exclude from word counts)

Table of Contents

  1. Summarize of Woolworths recent topical issues (300 words)
    1. Unethical behavior in product development
    • Woolworths wage theft issue
  2. Woolworth’s Initiative in addressing these issues (1000 – 1200 words)
  • Value based approach (as mentioned in their 2020 CSR report)
  • They acknowledge their mistake and take responsibility for it
  • They mentioned that it is not in line with their values,
  • They intensify and strengthen the training of their people, suppliers and partners
  • Hold accountability in wages repayment
  •  Take responsibility by cutting executive bonuses in order to repay underpaid employees
  • CEO Brad Banducci will forfeit a $2.6 million bonus and chairman Gordon Cairns will have director fees cut by 20 per cent because of payment scandal
  • Look into award system reform for their negligence
  • Promise on protecting employee’s wellbing as part of their 2020 CSR strategy

               2.3 Motive of Initiative

  • To comply to legislation in accordance to Fair Work Ombudsman
  • Stakeholder theory: For good image, expectations from the society, to regain confidence from investors, consumer, employees, suppliers

2.4 Impact and Effectiveness of Woolworth’s CSR strategies

  • Can look into their market share if their share price increases, if yes, then strategy can be effective
  • Look into their financial report in comparable to other competitors like Coles, Aldi and IGA, did their sales increase or dropped
  • Recommendations (800 – 1000 words) this part need further brainstorming
  • Triple bottom Line
  • Creating shared value (redefine value chain)
  • GRI (transparency, comparability, clarity)
  • Conclusion (200 words)

References

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