Accounting Theory Essay Example | Topics and Well Written Essays - 1500 words - 1

Accounting Theory - Essay Example Laan (2009) argues that the two theories namely Stakeholder and Legitimacy, derived from the broader political economy perspective, broadly explain motivations for social disclosures. The paper aims at exploring whether the main motivation to corporations for social and environmental reporting is to enhance their corporate image and credibility with stakeholders. While a few decades back, corporations sole aim remained enhancing shareholder value in financial terms and report them as per the statutory norms, organisations have now moved beyond traditional financial reporting of their performance to its stakeholders. Currently, stakeholders group not merely constitute shareholders, employees, suppliers, creditors, customers but they also include society, community and all those who are affected by the operations of the organization. Corporate social reporting thus, has occupied a wider perspective. Stakeholder theory prescribes that all stakeholders including primary and secondary have the right to expect fair treatment from an organisation. That is to say management needs to manage the corporation such that interests of all stakeholders are secured. Community or Society at large may not be directly engaged in transactions with the corporation yet they are influenced and affected by the activities of corporations such as emission levels, waste water creation and its treatment, impact on ecology or surroundings and so on. Ethical branch of stakeholder theory also necessitates that community and society not only have a right to know how they are affected or impacted in the long run from the activities of corporations but also they expect that they must be treated fairly by corporation. At the same time, managerial branch of stakeholder theory explains that organisations prefer to provide social and environmental reporting when they believe that it is in their

Comparing Regulation of bank provision for two countries Essay

Comparing Regulation of bank provision for two countries - Essay Example Part of the functions of the Central Bank of Iraq, as can be gleaned from the above, is the regulation of the banking system to make sure that players abide by the rules and the law. It also serves to shape the policy relating to the money supply, as well as occupies the role of the lender that banks and other entities can turn to when there are no other venues to source loans (Central Bank of Iraq; Munro 4). The way that the Iraqi Central Bank has vast power over the money supply is evidenced in recent news, for instance, relating to the bank imposing rules to regulate the way banks and other entities in Iraq are able to purchase US dollars (Albawaba Business). In similar fashion, the Central Bank of the UAE is likewise founded on the basis of a founding law, passed this time around in 1960, and its powers mirror the powers that are bestowed on the Iraqi Central Bank. The founding laws are said to be based on the principle that the UAE Central Bank ought to be autonomous and self-functioning, and on the principle of the importance of sound monetary policy crafted outside of the usual pressures associated with temporal politics. The independence of the Central Bank is an aspect of its independence to set monetary policy for the whole of the UAE. Moreover, as in the case of the Iraqi Central Bank, the intention of the law and of attempts to modify the founding laws of the UAE Central Bank, is to make sure that it operates along the lines of international law and international banking standards, as can be gleaned from the Basel Committee formulations. As with the Iraqi Central Bank too, the UAE Central Bank has vast powers to regulate the mem bers of the banking system, to impose the rules, and to make sure that players adhere to those rules. On the other hand, while the Iraqi Central Banks more recent moves involves the restricting in foreign currency trades, especially with the US dollar, the