For this assignment:
• Develop an outline for your argument which should include:
o A thesis statement or controlling idea which clearly identifies a debatable position
o The main topic for each body paragraph and a few supporting details for each
A typical answer should have between 750 words, but it is the quality of the answer that matters, not the number of words.
make sure that you cite and reference all your outside sources properly, as per the Harvard Referencing System.
Critical Issues in Corporate Finance
There is a growing trend of incorporating environmental reports in corporate organizations in Vietnam and across the globe. Given the state of the global environment and the rapid rate at which it is deteriorating, environmental conservation has become a global concern (Noronha, Tou, Cynthia, & Guan, 2013). Currently most organizations across the globe, in different industries and sectors are engaged in effective corporate governance and Corporate Social Responsibility strategies (CSR). According to Hond and Neergaard (2007), with the increasing CSR across the globe, many organizations now engage in sustainable practices and they make a reporting of the same. This is what has led to the growing trend of environmental reporting which has significantly impacted my professional area.
Environmental reporting is affecting the entire globe and not just particular regions (Hond & Neergaard, 2007). Financial reporting is usually regulated by the government, and currently most governments have made it a necessary requirement for organizations to make reports of their corporate social responsibility activities (Noronha, Tou, Cynthia, & Guan, 2013). This mandate is changing the manner in which corporations make their financial reports with some organizations incorporating the environmental reports in their financial reports as others report them separately (Financial Reporting Council, 2014). It is by this virtue that the environmental concerns can be seen as impacting on how finances are reported today.
The growing trend of environmental reporting is expanding the global community as it links organizations and their environmental activities closer. This is because the environment has the ability to affect all organizations adversely (Martínez-Ferrero, 2013). As a result of increased information access and efficient communication channels, currently industries and individuals have been able to interact more effectively and in real time. With sharing of information the individuals and organizations are able to know whatever is happening in different parts of the globe as soon as anything happens.
I believe that through a course in the corporate finance program structure, I can be better capable of discharging my professional roles as well as advance in my career. Currently I am in the transport engineering sector where I work in an International Transport Consultancy in Vietnam. I work in the procurement department. The industry is witnessing an increase in the demand and use of sustainable materials with regards to the development of new roads or refurbishing existing ones. This is so as to guarantee the sustainability of roads over the long term, with limited adverse impacts on the environment. There is considerable on-going research on alternative fuel including alternative petrol and these are part of the ‘green’ changes that are affecting the transport engineering sector which I am currently working under. What is more is that the organization has an objective of ensuring that it engages in sustainable practices. Sustainability has significantly affected the procurement department of International Transport Consultancy in Vietnam as well as the entire transport industry because carbon emissions which are emitted by the current means of transport is one of the main causes of environmental degradation. Currently ‘green’ supplies and materials in the transport industry are highly preferred and with the global increase in environmental reporting across various industries and sectors in the globe, there have been considerable changes in financial reporting. A main concern is how environmental reporting should be done and how it can be differentiated from the regular financial reporting (Martínez-Ferrero, 2013). Through the course in corporate finance, I will be able to enhance my understanding of financial statement reporting and analysis. The course can also help me enhance my knowledge on finance analysis and valuation.
As a financial consultant in the procurement department at the International Transport Consultant in Vietnam, there is a lot of work. Currently, my institution has an undertaking, which is one of its functions to help the government of Vietnam, as formulated in its Long Term Plan known as the corporate financial management plan, which is directed towards the establishment of the Integrated National Financial management system. This means that it is necessary to have pertinent skills to ensure that I am able to discharge my duties accurately. My current work environment requires one to be creative and innovative to succeed. It is an environment that is not tolerant to errors and I believe that through the MSC course in corporate finance, I will be able to broaden my knowledge base, sharpen my skills and increase my levels of innovativeness. What this means is that the course can be very beneficial to my career and it will also enable me to perform the best that I can within the corporate finance industry. This means that I can be able to maintain positive standards of service delivery with greater potential for career advancement. With outstanding performance in the industry I could earn the institution with recognition which would be beneficial to the University.
Week 1: Discussion question
Thank you for your very well researched discussion about CSR. I just had couple of comments/questions about your discussion paper.
1. CSR and environmental reporting. Are you specifically referring to Vietnam when you say that there has been a growing trend and requirement in environemental reporting. As in the western economies I have seen CSR statements and environmental reporting especially in industries such as oil and gas such as BP for some years now.
2. You also said that the global community is shrinking when it comes to environmental reporting? CAN you explain this point a bit more?
3. What do you mean by corporate finance reporting? Are you referring to financial statements or reporting of newly acquired entity?
Are your firms examining the environmental impacts of their activities? Is Corporate Social Responsibility part of the organizations stated aims?