Environmental Reporting – NBC Institute

CR – Nov 2023 – L3 – SC – Q5 – Introduction to Corporate Reporting

Explain digital transformation in finance and the inclusion of social responsibility reporting requirements and benefits.

Question

a. Digital transformation in the finance and accounting industry was accelerated by the technological development following the COVID-19 pandemic, which reshaped business models and organizations globally. For many organizations, the impetus to full digital adoption and transformation was a major enabler for survival and growth.

Required:
Identify and explain various ways in which finance executives can embrace digital transformation in accounting, financial, and corporate reporting.
(10 Marks)

b. Westham PLC is a multinational energy group recently quoted on the Nigerian Exchange Limited (NGX) and the London Stock Exchange (LSE). Among its many activities, the group operates an oil refinery in Nigeria, a nuclear waste disposal facility in South Africa, and a coal extraction facility in Kenya.

The finance director of Westham PLC is aware that other companies in similar sectors are including social responsibility and environmental reports as part of their corporate annual reports.

Required:
i. Identify and explain the requirements for including this type of information in corporate annual reports in Nigeria.
(2 Marks)

ii. Discuss the benefits of publishing social and environmental reports.
(3 Marks)

Answer

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Topic: Introduction to Corporate Reporting
Series: NOV 2023

CSME – Nov 2023 – L2 – Q2 – Sustainability and Strategic Management

Develop a sustainable development blueprint using specific environmental and social reporting frameworks.

Question

You have been appointed as a consultant to a company manufacturing microchips in Nigeria. The company’s management and board of directors want to implement a sustainable development agenda. You have been asked to develop a blueprint of financial and environmental reporting that captures the influence of the company’s activities on the physical and social environment.

Required:

a. Define the term ‘Sustainable Development’. (1 Mark)

b. Suggest frameworks for environmental and social reporting using the following:

i. Triple Bottom Line (4 Marks)
ii. Balanced Scorecard (BSC) (4 Marks)
iii. Sustainability Assessment Model (SAM) (4 Marks)

c. What are the steps involved in implementing the SAM approach to measure a product’s performance over its entire life-cycle? (7 Marks)

Answer

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Topic: Sustainability and Strategic Management

CSME – May 2022 – L2 – SB – Q3 – Environment analysis

Explain the nature, benefits, and key elements of environmental reporting, audits, and Environmental Management Accounting (EMA).

Question

There is a growing concern that organizations should act in a responsible manner to ensure sustainability of their environment. To this end, environmental reporting has become an important part of the reporting obligation of firms. Hence, you have been approached for advice by a manufacturing company that seeks to incorporate environmental reporting into its annual reports. You are to present to the management a report detailing the following:

a. Nature and benefits of environmental reporting. (5 Marks)

i. Key elements of the Sustainability Balanced Scorecard (SBSC) as a measure of a firm’s performance. (2 Marks)
ii. Elements of an environmental audit. (4 Marks)

c. Nature and use of Environmental Management Accounting (EMA). (9 Marks)

Answer

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Tags: Audit, Corporate Social Responsibility, EMA, Environmental Reporting, SBSC
Level: Level 2

Topic: Environment analysis
Series: MAY 2022

CR – Nov 2018 – L3 – Q5a – Beyond financial reporting

Discuss what users might expect to see in a company’s annual report to indicate that environmental concerns are receiving adequate attention.

Question

An increasing number of users have an interest in environmental matters, either as socially responsible investment (SRI) analysts, private investors, banks, employees, or customers. In cases where there are material environmental impacts, they will normally expect to see something in the annual reports.

Required:
What might users expect to see in a company’s annual report to indicate that environmental concerns are receiving adequate attention?

Answer

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Tags: Corporate Responsibility, Environmental Reporting, Financial Reporting, Sustainability
Level: Level 3

Topic: Beyond financial reporting
Series: NOV 2018

CR – Nov 2023 – L3 – SC – Q5 – Introduction to Corporate Reporting

Explain digital transformation in finance and the inclusion of social responsibility reporting requirements and benefits.

Question

Required:
Identify and explain various ways in which finance executives can embrace digital transformation in accounting, financial, and corporate reporting.
(10 Marks)

The finance director of Westham PLC is aware that other companies in similar sectors are including social responsibility and environmental reports as part of their corporate annual reports.

Required:
i. Identify and explain the requirements for including this type of information in corporate annual reports in Nigeria.
(2 Marks)

ii. Discuss the benefits of publishing social and environmental reports.
(3 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Topic: Introduction to Corporate Reporting
Series: NOV 2023

CSME – Nov 2023 – L2 – Q2 – Sustainability and Strategic Management

Develop a sustainable development blueprint using specific environmental and social reporting frameworks.

Question

Required:

a. Define the term ‘Sustainable Development’. (1 Mark)

b. Suggest frameworks for environmental and social reporting using the following:

i. Triple Bottom Line (4 Marks)
ii. Balanced Scorecard (BSC) (4 Marks)
iii. Sustainability Assessment Model (SAM) (4 Marks)

c. What are the steps involved in implementing the SAM approach to measure a product’s performance over its entire life-cycle? (7 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Topic: Sustainability and Strategic Management

CSME – May 2022 – L2 – SB – Q3 – Environment analysis

Explain the nature, benefits, and key elements of environmental reporting, audits, and Environmental Management Accounting (EMA).

Question

a. Nature and benefits of environmental reporting. (5 Marks)

i. Key elements of the Sustainability Balanced Scorecard (SBSC) as a measure of a firm’s performance. (2 Marks)
ii. Elements of an environmental audit. (4 Marks)

c. Nature and use of Environmental Management Accounting (EMA). (9 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit, Corporate Social Responsibility, EMA, Environmental Reporting, SBSC
Level: Level 2

Topic: Environment analysis
Series: MAY 2022

CR – Nov 2018 – L3 – Q5a – Beyond financial reporting

Discuss what users might expect to see in a company’s annual report to indicate that environmental concerns are receiving adequate attention.

Question

Required:
What might users expect to see in a company’s annual report to indicate that environmental concerns are receiving adequate attention?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate Responsibility, Environmental Reporting, Financial Reporting, Sustainability
Level: Level 3

Topic: Beyond financial reporting
Series: NOV 2018

Question Tag: Environmental Reporting

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CR – Nov 2023 – L3 – SC – Q5 – Introduction to Corporate Reporting

Explain digital transformation in finance and the inclusion of social responsibility reporting requirements and benefits.

CSME – Nov 2023 – L2 – Q2 – Sustainability and Strategic Management

Develop a sustainable development blueprint using specific environmental and social reporting frameworks.

CSME – May 2022 – L2 – SB – Q3 – Environment analysis

Explain the nature, benefits, and key elements of environmental reporting, audits, and Environmental Management Accounting (EMA).

CR – Nov 2018 – L3 – Q5a – Beyond financial reporting

Discuss what users might expect to see in a company’s annual report to indicate that environmental concerns are receiving adequate attention.

CR – Nov 2023 – L3 – SC – Q5 – Introduction to Corporate Reporting

Explain digital transformation in finance and the inclusion of social responsibility reporting requirements and benefits.

CSME – Nov 2023 – L2 – Q2 – Sustainability and Strategic Management

Develop a sustainable development blueprint using specific environmental and social reporting frameworks.

CSME – May 2022 – L2 – SB – Q3 – Environment analysis

Explain the nature, benefits, and key elements of environmental reporting, audits, and Environmental Management Accounting (EMA).

CR – Nov 2018 – L3 – Q5a – Beyond financial reporting

Discuss what users might expect to see in a company’s annual report to indicate that environmental concerns are receiving adequate attention.

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Question Tag: Environmental Reporting

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CR – Nov 2023 – L3 – SC – Q5 – Introduction to Corporate Reporting

Explain digital transformation in finance and the inclusion of social responsibility reporting requirements and benefits.

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CSME – Nov 2023 – L2 – Q2 – Sustainability and Strategic Management

Develop a sustainable development blueprint using specific environmental and social reporting frameworks.

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CSME – May 2022 – L2 – SB – Q3 – Environment analysis

Explain the nature, benefits, and key elements of environmental reporting, audits, and Environmental Management Accounting (EMA).

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CR – Nov 2018 – L3 – Q5a – Beyond financial reporting

Discuss what users might expect to see in a company’s annual report to indicate that environmental concerns are receiving adequate attention.

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CR – Nov 2023 – L3 – SC – Q5 – Introduction to Corporate Reporting

Explain digital transformation in finance and the inclusion of social responsibility reporting requirements and benefits.

You're reporting an error for "CR – Nov 2023 – L3 – SC – Q5 – Introduction to Corporate Reporting"

CSME – Nov 2023 – L2 – Q2 – Sustainability and Strategic Management

Develop a sustainable development blueprint using specific environmental and social reporting frameworks.

You're reporting an error for "CSME – Nov 2023 – L2 – Q2 – Sustainability and Strategic Management"

CSME – May 2022 – L2 – SB – Q3 – Environment analysis

Explain the nature, benefits, and key elements of environmental reporting, audits, and Environmental Management Accounting (EMA).

You're reporting an error for "CSME – May 2022 – L2 – SB – Q3 – Environment analysis"

CR – Nov 2018 – L3 – Q5a – Beyond financial reporting

Discuss what users might expect to see in a company’s annual report to indicate that environmental concerns are receiving adequate attention.

You're reporting an error for "CR – Nov 2018 – L3 – Q5a – Beyond financial reporting"

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