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Financial Reporting for Environmental and Social responsibility: A Normative Strategic Concept

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Abstract

Corporate responsibility demands that firms address environmental and social values in their firm’s policy and key performance indicators. These are integrated through strategic planning and require firms to merge the longer term environmental and social values with short term economic objectives and performance measures. Each firm’s strategy will differ. This paper provides a normative reporting concept to connect the financial implications associated with longer term planning for environmental and social values, with short term accounting reports. Reporting variants adapted from total cost assessment, life cycle costing, variable costing are integrated to offer upstream information based on a product segment view.

Suggested Citation

  • Jean Raar, 2004. "Financial Reporting for Environmental and Social responsibility: A Normative Strategic Concept," Accounting, Finance, Financial Planning and Insurance Series 2004_05, Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance.
  • Handle: RePEc:dkn:acctwp:aef_2004_05
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    File URL: http://www.deakin.edu.au/buslaw/aef/workingpapers/papers/swp2004_05.pdf
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    More about this item

    Keywords

    Strategy; environmental reporting; life cycle costing; cost systems; multi-period accounting; multi-stage fixed costs.;

    JEL classification:

    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics

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