Which of the following statements regarding CSR and sustainability reporting is false? a.The Global Reporting Initiative is an international organization that develops the use of sustainability reporting standards.   b.Generally accepted accounting principles require firms to report CSR and sustainability efforts.   c.Many corporations use a triple bottom line approach to sustainability reporting.   d.The triple bottom line approach includes financial, social, and environmental performance components.

(a) The IASB's Framework for the Preparation and Presentation of Financial Statements requires financial statements to be prepared on the basis that they comply with certain accounting concepts, underlying assumptions and (qualitative) characteristics. Five of these are: Matching/accruals. Substance over form • Prudence • Comparability Materiality Required Briefly explain the meaning of each of the above concepts/assumptions. (b) Product development costs are a material cost for many companies. They are either written off as an expense or capitalised as an asset. (IAS 38 'Intangible Assets')

Which of the following is NOT disclosed in sustainability reports?   a. Assessments of the impact on the local community b.   Policies and practices regarding sourcing from local suppliers   c. Accounting policies and estimates d. Initiatives to reduce greenhouse gas emissions

Which statement accurately describes the intersection between sustainability reporting and tax accounting? a) Sustainability reporting has no relationship with tax accounting practices. b) Sustainability reporting focuses exclusively on environmental aspects, while tax accounting deals with financial reporting. c) Sustainability reporting may impact tax accounting through disclosures related to environmental initiatives and incentives. d) Tax accounting regulations prohibit the integration of sustainability reporting data into financial statements.

Which statement is false?a. Management accounting makes use of both quantitative and qualitative information for maximum use of managementb. Financial accounting emphasizes current and future data while management accounting is essentially historical.c. Management accounting covers a much broader scope, for it goes beyond the boundaries of traditional accounting.d. Management accounting information merely assist managers in rendering judgment, but it is not a substitute for judgment.

According to the COSO ERM framework, which of following best describes the difference between strategy and business objectives?   A. Strategy is the plan to achieve business objectives. B. Business objectives are the steps to achieve strategy. C. Strategy is the organization’s core purpose, and business objectives are what the organization aspires to achieve over time. D. Business objectives are broader in scope than strategy.

In Chapter 3 of the Scott book, two theories of financial reporting are proposed, the decision usefulness approach and the stewardship approach. Compare and contrast each approach. Which approach has the profession embraced for external reporting

How can the enhancing characteristic comparability (consistency) be improved in high-quality accounting information? Do not simply repeat what it is, provide suggestions as to how a particular part of the enhancing characteristic could be improved. Please provide different answers and explanations than copy and pasting: “Accounting information is comparable, if -it is with consistent accounting standards and policies applied throughout each accounting period, enables users to draw insightful conclusions about the trends and performance of the company over time.”

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Factors Influencing The Role Of Management Accountant.? Organization size: Huge entities have the resources to engage accountants to do specific management accounting duties. Their operations also tend to cover a wider area (probably global) and therefore require many aspects of management accounting. Market competition: There is an urgent need for more management accounting information when the competition becomes more intensified. For example, a Balanced Scorecard helps measure both financial and non-financial dimensions of the operations, and a balanced scorecard is a strategic management accounting tool. Nature of the entity's business: For example, if the entity is a huge retailer having several outlets across the country, there is certain management accounting information that will be key to the operations. Such as inventory management system, cost-volume-profit analysis of each retail outlet, return on investment of each outlet, etc.     Please explain above answer how these…