ACCT1046: Corporate Social Responsibility and Sustainability - Accounting Assessment Answer

Accounting Assessment Task

Requirement 1

Use the information from your research to provide a description of your business. In your description include the following;

1. The type of organisation it is (for-profit/not-for-profit; merchandiser/manufacturer; partnership/company etc.)
2. An outline of your business’s main products/services and activities;
3. It’s approach to corporate social responsibility and sustainability (within your discussion you must explain the meaning of ‘corporate social responsibility’ and ‘sustainability’);

Requirement 2 

Your business’s focus on corporate social responsibility and/or sustainability has the potential to create value/benefits for several stakeholder groups.  Use the information from your research to do the following:

1. Identify four (4) specific stakeholder groups that are likely to benefit from your business’s corporate social responsibility focus.  In your response, you must identify whether each specific stakeholder group is internal or external.
2. For each stakeholder group identified in part a),
   1. Describe in detail one (1) corporate social responsibility activity your business is undertaking to manage the impact their operations have on that group.
   2. Explain how these activities are likely to create value for /benefit those stakeholders.

Requirement 3:

In Requirement 2 (b) you have identified four corporate social responsibility activities your business undertakes. To fulfil its corporate social responsibility, your business will also need to determine if these activities do in fact provide benefits as intended. 

For each of the four (4) corporate social responsibility activities you identified in Requirement 2 (b);

1. Identify two (2) items of management accounting information that would help your business decide whether stakeholder groups actually benefited from those activities then;
2. Explain how these items of information would help your business make this decision.

Requirement 4

The focus on corporate social responsibility and sustainability taken by your business has the potential to create value/provide benefits not only to its stakeholders, but also to the business itself.

Undertake research to identify two (2) benefits your business is likely to have gained from its focus on corporate social responsibility and/or sustainability.  For each benefit identified you must use the information collected from your research to explain why you believe your business has gained these benefits.

Requirement 5

Choose one specific product or service your business provides to its customers.  Undertake research about this product/service and identify the following:

1. The price the product or service is sold for (you must provide the source of this information).
2. For each type of cost listed below, identify two (2) examples that are likely to be incurred in the provision of the product/service you have identified - e.g. if the product was ice-cream, then you could identify the raw ingredient ‘milk’ as a variable cost that would be incurred.
3. 1. Variable cost;
   2. Fixed cost;
   3. Direct cost;
   4. Indirect cost.

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