Please help me with question no 2 and 3. Please read the question carefully. Just need help with question no. 2 and 3. thanks

1 COLLEGE OF BUSINESS BAO2203- Corporate Accounting Assignment Semester 1 2016 DUE DATE: Week 9 Lecture Topic: Financial Reporting Standards and Environmental Disclosures \"Currently, most companies that report on sustainability publish stand-alone reports. However, a trend toward integrating sustainability reporting with financial results is emerging and is supported by the International Integrated Reporting Council's (IIRC) efforts to develop a global integrated reporting framework. Both stand-alone and integrated sustainability reporting require the involvement of accounting professionals. Accounting majors, many of whom have grown up in an environment that strongly values ecologically, ethically, and socially responsible corporate behavior, represent the future accounting professionals\" (James 2015, p.1). Disclosures on organisational behaviour in relation to the natural environment form an essential component of integrated sustainability reporting. This assignment would assist you to explore the ability of the current international financial reporting standards (IFRS) in monitoring the impacts of organisational operations on the natural environment. (Reference: James, ML 2015, 'The benefits of sustainability and integrated reporting: an investigation of accounting majors' perceptions', Journal of Legal, Ethical & Regulatory Issues, vol. 18, no. 1, pp. 1-20.,) 1. What is environmental reporting? Explain how reporting on environmental issues could be related to the objectives of general purpose financial reports (GPFR). 2. Identify two accounting standards (IAS/IFRS) that are relevant to environmental impacts of an organisational operation. Explain the relevance of these accounting standards with environmental issues related to business activities. 3. Select the most recently published annual report of a company from an environmentally sensitive sector. Provide a critical discussion of the environmental disclosures in relation to financial accounting reported by the company you selected. Required: Write an essay to discuss the above three points using appropriate headings. (The \"guidance/hints\" provided in page 2 and the \"assessment criteria and assignment structure\" presented in page 5 should help you in preparing and organising the essay) 2 You are to form into group of two for the submission of this assignment. Assignments undertaken by an individual (1) student will not be accepted for marking. Guidance/Hints for obtaining a reasonable understanding of the assignment topics: a) Your reading must include: - Academic journal articles (minimum 6 should be referenced) - International Accounting Standard Board (IASB) Frameworks and standards - Corporate annual reports from any environmentally sensitive sector - Recent corporate environmental news published in newspapers/magazines/online b) You must provide appropriate referencing (both in-text and in the reference list) of the sources of information obtained. c) Critical thinking and discussion in question no. 3 should cover at least the followings: - Identify environmental issues of the company you selected that could be considered relevant - what is disclosedot disclosed - how disclosureon-disclosure would affect the reporting of the financial performance and position of the company - how disclosure could be improved from the perspective of decision usefulness and accountability We would like to encourage you to go beyond the guidance/hints listed above. We look forward to be exhilarated by your research skill and written communication! Writing and submission guidelines: a) Style and Format - Word limit: 2000 words excluding referencing and evidence of group work Font: size - 12-point; style - Calibri; Line spacing: 1.5 line spacing; write on one side of the (A4) paper. Page margin: 3 cm/ 1 inch on each side (right, left, top and bottom) Insert page number College of Business Assessment declaration form: must be completed, signed by all the partners and included. In addition to the assessment declaration form, you must prepare a title page which should contain the title, your name, your ID number, and importantly, your tutorial day and time. Your report must display headings (as presented in the marking scheme) and subheadings to help establish its structure and aid the marking process. b) Referencing and plagiarism: 3 - You are required to use is the Harvard Referencing System for referring both in-text and in the reference list. The minimum of 6 academic journal articles are expected to be cited. Reference from the Wikipedia, Investopedia and other business dictionary websites will not be accepted as proper reference. Three weeks before due date, you may commence testing your assignment for originality on TURNITIN which will be available on VU Collaborate. The originality rate must not exceed 30 percent. Assignments will be penalised severely where plagiarism (copying directly from textbooks, journal etc. without due recognition) has occurred. Assignments not using the Harvard system, showing no evidence of research for information or are obviously plagiarised will be returned unmarked. c) Teamwork: - Team members must belong to the same tutorial group. - It is YOUR responsibility to form teams, thus swapping contact details and arranging regular progress meetings is essential. Remember, once a team is formed, it is up to you and your fellow team members to maintain team discipline. All group members are equally responsible for the submission of the assignment. - Students must meet at least once every fortnight. Meeting records must be attached at the end of your report. - Marks will be allocated for your meeting logs. A suggested meeting log is attached. Further, the Collaboration document available in the VU Collaborate will also give you suggestions on how to collaborate and prepare meeting logs. - Where a group member is not cooperating or contributing to the group and the team has made all efforts to resolve the issue, the team must inform the tutor and unit coordinator/s immediately via email. Where a group does not report this matter immediately, it will not be entertained later on, especially before the due date of the assignment. The defaulting member will be given a warning and should the member continue to default, the group will continue without the defaulting member and the defaulting member will receive zero for the task. d) Submission of assignment: - You have to submit TWO copies of your report - 4 - 1. A soft copy should be submitted to Turnitin via a link on VU Collaborate. The report should be submitted ONLY by one team member or team leader. 2. A hard copy (printed) of the report should be submitted to your lecturer in week 9 lecturer class after the conclusion of the lecture. Do not submit the assessment declaration form to Turnitin. Penalty for not complying with the writing and submission guidelines: 4 marks out of 50 Penalty for late submission without proper authorisation from the unit coordinator: 5 mark out of 50 per working day (weekday) and no mark will be awarded after five days. Marking guidelines: The assignment will be marked out of 50 and then reduced to 20 per cent of the overall assessment. For example, if a student gets 35 out of 50, the mark that would be added towards the overall assessment is 14, calculated as: ((35/50) x 20). Please see the next page for mark breakdown. Student ID: Name: Assessment Criteria and Assignment Structure Assessment Structure (marks) Excellent Very Good Good Average Marginal Poor Very Poor 5 1 2 3 4 5 6 7 8 9 Abstract (4) Introduction (4) Question 1 (7) Question 2 (8) Question 3 (10) Conclusion / recommendation (4) Bibliography, referencing and citations and style (4) English expression, coherence, grammar and spelling (4) Evidence of the group workmeeting logs (5) Assessment criteria to be applied on Assessments Excellent: Work fulfilling the above criteria to an outstanding degree, in particular demonstrating excellence in sustained argument, critical thought and synthesis of material from diverse sources. Very Good: Work demonstrating extensive knowledge and understanding of major content areas and issues; the ability to appropriately synthesise material from a range of sources; a well-developed capacity for critical analysis of key issues and concepts; the ability to present a defensible perspective on issues; evidence of wide reading in relevant areas of the discipline. Good: Above average work demonstrating good knowledge and understanding of major content areas and issues; demonstration of some capacity for critical analysis; the ability to present a perspective on issues; evidence of reading in relevant areas of the discipline. Average: Work of 'average' standard which demonstrates a average comprehension both of basic concepts and some issues, based on class work and some further reading in the area; some ability to compare key concepts and theoretical perspectives; average presentation, particularly in regard to structure, expression and referencing. Marginal: Work which shows a basic understanding of key elements of the subject matter at a descriptive level, based mainly on attendance at lectures; satisfactory presentation with some deficiencies in structure, expression and referencing. Poor: Work which shows little evidence of knowledge or understanding of the subject matter and is unsatisfactorily presented, particularly in regard to structure, expression and referencing. Very poor: Work which shows no evidence of knowledge or understanding of the subject matter. 6 _ _ __ _ _ _ _ _ _ _ _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _