Question 1

Which reporting approaches have been adopted in reporting social and environmental performance?

Accepted Answer

The checklist approach, target based reporting, eco-balance approach, and full-cost approach are all commonly used reporting approaches for social and environmental performance. The other options listed (A and B) are financial reporting approaches and are not specifically designed for reporting social and environmental performance. The area-of-interest method is not commonly used in social and environmental reporting.

Question 2

The Global Reporting Initiative is:

Accepted Answer

The Global Reporting Initiative was initially assembled by the Coalition for Environmentally Responsible Economies (CERES), which has connections with various organizations such as businesses, governments, and environmental groups. GRI aims to create sustainability reporting standards that are applicable to a wide range of entities worldwide.

Question 3

Environment Australia has identified a number of possible benefits for entities choosing to report environmental information,including:

Accepted Answer

All of the given benefits are possible outcomes of reporting environmental information. These benefits can lead to improved financial performance, stakeholder relations, and overall reputation for the entity.

Question 4

The World Business Council for Sustainable Development has encouraged the use of eco-efficiency indicators by businesses.Eco-efficiency indicators are based on:

Accepted Answer

Eco-efficiency indicators focus on the value of a product or service relative to its environmental impact, aiming to create more value with less environmental harm.

Question 5

Sustainable cost has been defined by Gray and Bebbington as:

Accepted Answer

Gray and Bebbington define sustainable cost as the expenditure required to restore the biosphere to its original state at the start of the accounting period, emphasizing environmental restoration.

Question 6

Global Reporting Initiative's (GRI)Sustainability Reporting Guidelines provide guidance to best practice reporting.These include reference to the following reporting principles:

Accepted Answer

The Global Reporting Initiative's (GRI) Sustainability Reporting Guidelines provide guidance on best practice reporting, including reference to the reporting principles of inclusivity, materiality, sustainability context, and completeness. These are considered the four core principles of GRI reporting, and they guide the development of sustainability reports that provide a comprehensive and balanced account of a company's sustainability impacts, risks, and opportunities.

Question 7

Global Reporting Initiative's (GRI)Sustainability Reporting Guidelines provide guidance to best practice reporting.These include defining the report quality to contain the following qualitative attributes:

Accepted Answer

The GRI's Sustainability Reporting Guidelines define report quality to contain the following qualitative attributes: reliability, clarity, balance, comparability, accuracy, and timeliness. Therefore, option C is the correct choice. Options A and B include some of the attributes mentioned in the guidelines but are not comprehensive. Option D includes some attributes that are not mentioned in the guidelines. Option E is incorrect as there is a definite set of attributes mentioned in the guidelines.

Question 8

There is significant diversity in the approaches adopted to disclose social and environmental information.Examples of broad approaches adopted include:

Accepted Answer

The eco-balance approach and target-based reporting are both valid and widely used approaches to disclosing social and environmental information. The eco-balance approach involves measuring and reporting on the environmental impacts of a company's activities, while target-based reporting involves setting specific targets for social and environmental performance and reporting on progress towards those targets. Both approaches can be effective in providing stakeholders with information about a company's impact on the environment and society.

Question 9

Which of the following statements is correct?

Accepted Answer

The answer of Which of the following statements is correct?
...

Question 10

The Global Reporting Initiative's draft guidelines on report content describes sections that may be found in a sustainability report,including:

Accepted Answer

The answer of The Global Reporting Initiative's draft guidelines on...

Question 11

The NSW Environmental Protection Authority's report,Corporate Environmental Reporting: Why and How,suggests disclosures including information relating to:

Accepted Answer

The report suggests disclosures on all of the given options including stakeholder consultation programs, use of energy in transportation, noise and odour production, and use of packaging. Therefore, option E is the best choice.

Question 12

Research in corporate environmental disclosures show that entities typically disclose positive environmental information.This would be consistent with:

Accepted Answer

The answer of Research in corporate environmental disclosures show that...

Question 13

Following are reports prepared by reporting entities:  Which of the following identifies all stand-alone social reports from the above list?

Accepted Answer

The stand-alone social reports from the given list are:
II - Social Report 2020
III - Sustainability Report 2019
VI - Annual Corporate Social Responsibility Report 2020

Therefore, the option C (II, III, and VI) is the correct choice.

Question 14

Which of the following statements is incorrect with respect to the Global Reporting Initiatives (GRI)Guidelines?

Accepted Answer

The GRI does not have a self-assessment system that ranks organizations from "Three" stars to "one" star.

Question 15

A number of research studies considering what motivates environmental disclosure by Australian entities had common findings that include:

Accepted Answer

Environmental disclosures are often self-laudatory, focusing on positive aspects and rarely mentioning negative information, aligning with findings from research studies on Australian entities.

Question 16

In boundary setting for sustainability reporting under the Global Reporting Initiatives (GRI)Guidelines,which of the following statements is incorrect?

Accepted Answer

This statement is incorrect as it contradicts the GRI guidelines. The boundary setting for sustainability reporting is not voluntary, and it pertains to both the report as a whole and individual Performance Indicators.

Question 17

Which of the following statements is a valid criticism of the accounting profession with respect to its consideration of social and environmental reporting?

Accepted Answer

The answer of Which of the following statements is a...

Question 18

Guthrie and Parker (1990)undertook a comparative analysis of corporate social-disclosure practices in the USA,the UK and Australia.Their findings include:

Accepted Answer

Guthrie and Parker (1990) found that corporate disclosure in Australia is low compared with the USA and the UK, and that disclosures made by Australian companies are mostly a reactive response to various social pressures. They also found that Australian companies rarely provided "bad news" in its activities.

Question 19

The stand-alone social responsibility reports voluntarily provided by Australian companies since the late 1990s include(s):

Accepted Answer

The stand-alone social responsibility reports voluntarily provided by Australian companies since the late 1990s include all the given answers, namely triple-bottom line report, sustainability report, and social responsibility report.

Quiz 37: Accounting for Corporate Social Responsibility

Which reporting approaches have been adopted in reporting social and environmental performance?

The Global Reporting Initiative is:

Environment Australia has identified a number of possible benefits for entities choosing to report environmental information,including:

The World Business Council for Sustainable Development has encouraged the use of eco-efficiency indicators by businesses.Eco-efficiency indicators are based on:

Sustainable cost has been defined by Gray and Bebbington as:

Global Reporting Initiative's (GRI) Sustainability Reporting Guidelines provide guidance to best practice reporting.These include reference to the following reporting principles:

Global Reporting Initiative's (GRI) Sustainability Reporting Guidelines provide guidance to best practice reporting.These include defining the report quality to contain the following qualitative attributes:

There is significant diversity in the approaches adopted to disclose social and environmental information.Examples of broad approaches adopted include:

Which of the following statements is correct?

The Global Reporting Initiative's draft guidelines on report content describes sections that may be found in a sustainability report,including:

The NSW Environmental Protection Authority's report,Corporate Environmental Reporting: Why and How,suggests disclosures including information relating to:

Research in corporate environmental disclosures show that entities typically disclose positive environmental information.This would be consistent with:

Following are reports prepared by reporting entities: Which of the following identifies all stand-alone social reports from the above list?

Which of the following statements is incorrect with respect to the Global Reporting Initiatives (GRI) Guidelines?

A number of research studies considering what motivates environmental disclosure by Australian entities had common findings that include:

In boundary setting for sustainability reporting under the Global Reporting Initiatives (GRI) Guidelines,which of the following statements is incorrect?

Which of the following statements is a valid criticism of the accounting profession with respect to its consideration of social and environmental reporting?

Guthrie and Parker (1990) undertook a comparative analysis of corporate social-disclosure practices in the USA,the UK and Australia.Their findings include:

The stand-alone social responsibility reports voluntarily provided by Australian companies since the late 1990s include(s) :