International Accounting
5th Edition
ISBN: 9781259747984
Author: Doupnik, Timothy S., Finn, Mark T., Gotti, Giorgio
Publisher: Mcgraw-hill Education,
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Textbook Question
Chapter 12, Problem 7EP
Clarion Bank and Trust (CBT) is a local bank based in a small town in the American Midwest. The town’s only other bank, a branch of a large multinational, recently closed. Based on research conducted at the SASB, one of the following sustainability topics is substantially more likely to be highly material for CBT than the others. Use your knowledge of the banking industry to identify this topic.
- a. Biodiversity impacts
- b. Child and forced labor
- c. Air pollution
- d. Workplace health and safety
- e. Access and affordability
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Case Analysis:
CBA Rural Bank is a rural bank serving the entire Zamboanga Peninsula and just like any business organization it has been significantly affected by the pandemic. It has 13 branches all over ZP and a total of 170 employees as of the latest manpower headcount. Below is its hypothetical manpower data and labor productivity-related costs:
With the financial information given above, briefly answer the following
How has the income been affected because of the pandemic? What could be the reason for its decreasing trend?
What do you think was the strategy of the bank in terms of how it managed its human resources taking into consideration its manpower data and its salaries expenses?
What could be the major decisions of the HRD Department in terms of its training in consideration of its decreasing amount of training expense? Build a hypothetical scenario if needed in your justification.
Values that are hard to express in monetary form is one of current issues in Management Accounting.
You should focus on question, how animals can be reported and accounted in one of following scenarios:
A city wishes to report wild animals in its area as an asset
A construction company, that is planning to build an apartment house right next to you home (please describe also the place and environment)
A wind energy company, that is planning to build 20 windmills to northernmost part of Lappland.
True or False
Sustainable development as a concept was launched in the late 1990s.
Sustainability reporting started with public sector companies.
Sustainability information includes both financial and non-financial information.
Sustainability reporting can be a tool to attain cost savings
One of the main developers of sustainability reporting has been the Global Reporting Initiative (GRI)
Chapter 12 Solutions
International Accounting
Ch. 12 - What is sustainability reporting?Ch. 12 - Prob. 2QCh. 12 - What is the Global Reporting Initiative (GRI)?Ch. 12 - Prob. 4QCh. 12 - Prob. 5QCh. 12 - Prob. 6QCh. 12 - Prob. 7QCh. 12 - Prob. 8QCh. 12 - What is the primary difference between the GRI and...Ch. 12 - Prob. 10Q
Ch. 12 - Prob. 11QCh. 12 - Prob. 12QCh. 12 - What industry dominates the list of the worlds...Ch. 12 - Prob. 14QCh. 12 - Nestl is the worlds largest food producer and is...Ch. 12 - Prob. 5EPCh. 12 - Garner Pharmaceuticals is a U.S. drug company that...Ch. 12 - Clarion Bank and Trust (CBT) is a local bank based...Ch. 12 - Prob. 8EPCh. 12 - Carbon accounting standards allow companies to use...
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Please answer in your own words After the pandemic ended, most of us are back to in-person work. However, the remote work and study format has a long-term impact on our society and economy. Also, with the introduction of AI-Generated Content like ChatGPT, our life and labor markets will change. Please discuss how the above one or two new norms will influence your investment decisions, such as which companies and/or industries will benefit from the change, and how you should change your investment strategy (i.e., investing in more stocks or bonds or real estate, investing in which companies, sectors, and industries).arrow_forwardYour firm is considering what to do with the current food distribution platform. The management might upgrade the platform (i.e., upgrading the new food distribution technology) or they can have a vendor construct a new one closer to the headquarters of the firm. What kind of projects are these?arrow_forwardAfter the pandemic ended, most of us are back to in-person work. However, the remote work and study format has a long-term impact on our society and economy. Also, with the introduction of AI-Generated Content like ChatGPT, our life and labor markets will change. Please discuss how the above one or two new norms will influence your investment decisions, such as which companies and/or industries will benefit from the change, and how you should change your investment strategy (i.e., investing in more stocks or bonds or real estate, investing in which companies, sectors, and industries).arrow_forward
- Suppose that Demont has been given a summer job as an intern at Isaac Aircams, a company that manufactures sophisticated spy cameras for remote-controlled military reconnaissance aircraft. The company, which is privately owned, has approached a bank for a loan to help it finance its growth. The bank requires financial statements before approving such a loan. Classify each cost listed below as either product costs or period costs for the purpose of preparing the financial statements for the bank. Costs Product Cost/Period Cost 1. Depreciated on salesperson's cars 2. Rent on equipment used in the factory 3. Lubricants used for machine maintenance 4. Salaries of personnel who work in the finished goods warehouse 5. Soap and paper towels used by factory workers at the end of a shiftarrow_forwardActing and Reporting on Sustainability Sustainability and the environment are topics of increasing importance in business and society today. Locate an article that profiles an organization from one of the sectors we have studied in this course (governments, not-for-profit organizations, and colleges or universities) and how that organization is addressing and reporting their activities related to sustainability. What can you learn about the organization’s commitment to sustainability from their financial statements and reporting? (Note: This may require more research than just one article.) Compare your findings to those of your classmates. What conclusions can you draw from the information shared?arrow_forwardAchieving sustainable development will likely require the cooperation of communities, governments, and businesses. The World Business Council for Sustainable Development (WBCSD) claims that ecoefficiency is the business contribution to sustainable development. Required: 1. What is sustainable development? 2. Explain why the WBCSDs claim about ecoefficiency may be true. 3. WBCSD has recently noted (http://www.wbesd.org): the good news is that ecoefficiency is working in the companies that try it. The troubling news is that it is not being tried on a large enough scale, even though it makes good business sense. Why do you think the ecoefficiency paradigm is not as widely accepted as it perhaps ought to be? What would you suggest to increase the number of companies involved in ecoefficient projects?arrow_forward
- In Japan, the government has laws on how much fish a fisher can catch. By limiting the number of fish caught per day or per season, it is certain that future generations will have fish from the area; that is, fish will not be depleted in this area. Japan's fish policy is an example of: a- Fair trade b- Globalization c- Trans-boundary pollution d- Sustainability.arrow_forwardSuppose that Demont has been given a summer job as an intern at Isaac Aircams, a company that manufactures sophisticated spy cameras for remote-controlled military reconnaissance aircraft. The company, which is privately owned, has approached a bank for a loan to help it finance its growth. The bank requires financial statements before approving such a loan. Classify each cost listed below as either product costs or period costs for the purpose of preparing the financial statements for the bank. Cost Product Cost/Period Cost 1. Factory supervisors' salaries 2. Heat, water, and power consumed in the factory 3. Materials used for boxing products for shipment overseas. Units are normally boxed. 4. Advertising costs 5. Workers' compensation insurance for factory employeearrow_forwardSuppose that Demont has been given a summer job as an intern at Isaac Aircams, a company that manufactures sophisticated spy cameras for remote-controlled military reconnaissance aircraft. The company, which is privately owned, has approached a bank for a loan to help it finance its growth. The bank requires financial statements before approving such a loan. Classify each cost listed below as either product costs or period costs for the purpose of preparing the financial statements for the bank. Cost Product Cost/Period Cost1. Depreciation on chairs and tables in the factory lunchroom 2. The wages of the receptionist in the administrative offices 3. Cost of leasing the corporate jet used by the company's executives 4. The cost of renting rooms at a Florida resort for the annual sales conference 5. The cost of packaging the company's productarrow_forward
- Golden Joy Investment is engaged in mining in a deprived farming community in the Western North Region of Ghana. The company invested heavily in their concession and eventually has started recouping their investment. The community, led by their Chiefs and Elders, have written a petition to the company for support for two key infrastructural needs. Imagine you have been employed as financial consultant in an established firm of your choice: How will the mining company be able to determine, and maximize or satisfice stakeholders' expectation? What will be the objective of each stakeholder identified? Veroni Ventures a key distributor of Voltic Water and other assorted products is considering investing Ghc335,600 in a project at Kasoa with a five-year life. The project will result in an increase in the company's turnover of Ghc350,000 at additional fixed cost of Ghc110,000 and a variable costs ofGHS150,000. At the end of the project in five years’ time, the assets will be sold for…arrow_forward(b) Explain one advantage and one disadvantage for CH of having a mission statement. (c) Explain two possible external sources of finance CH could use to continue production of Copper Health (CH) was the market leader in the production of anti-venom* vaccines to treat (CSR) – is to put customers first and profits second in the treatment of snake bites. poisonous snake bites. CH's mission - influenced heavily by corporate social responsibility Despite 100000 deaths worldwide each year from snake bites and 400000 serious injuries, CH recently announced that it will no longer produce anti-venom vaccines. Several large Mexican, Brazilian and Indian pharmaceutical companies have entered the market selling anti-venom 5. Copper Health (CH) vaccines at a much lower price than CH. A spokesperson for CH said: "We will remain a private limited company where corporate Social responsibility (CSR) remains an important driving force for our mission. Our medical research is only financed from retained…arrow_forwardThe following quote appeared in an article entitled ‘Business and society in the coming decades’, which was available on the website of McKinsey & Company (accessed in October 2015). “There are compelling reasons companies should seize the initiative to drive social and business benefits. First, in an interconnected world facing unprecedented environmental and social challenges, society will demand it. Increasingly, a basic expectation among customers, governments, and communities will be that the companies they do business with provide a significant net positive return for society at large, not just for investors. This will be part of the implicit contract or license to operate”. Now a) Explain the above statement in the context of corporate social responsibility. b) Further, do you think such a statement would impact the perceived ‘legitimacy’ of companies? Explain.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Cornerstones of Cost Management (Cornerstones Ser...AccountingISBN:9781305970663Author:Don R. Hansen, Maryanne M. MowenPublisher:Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser...
Accounting
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Cengage Learning
Cost control, Why cost control is necessary for a business?; Author: Educationleaves;https://www.youtube.com/watch?v=yMg3gJx48Fg;License: Standard youtube license