Financial Accounting Theory and Practice for Allegiance Coal

Question: Discuss about theFinancial Accounting Theory and Practice for Allegiance Coal. Answer: Allegiance Coal Limited is listed on ASX: AHQ. The company deals with producing or productions in metallurgical coal. Management of company is committed to the development of prolonging working relationships with indigenous people relating to projects in which company is engaged. Reporting of CSR in annual report of 2013 and 2016 In the year 2013, CSR reporting was company was specific and concerned towards safety and environment requirements. Report describes steps taken by the company due to which there were no lost-time injuries or environmental incidents happened in the field activities which were related to tenement inspection, drilling and geological investigations. Further all aspects of the environmental law have complied for its exploration activities as well (Investor information and annual reports, 2013). The company has also maintained a code of conduct for the accomplishment of the objective of ethical and responsible decision making. It has been established for maintaining companys integrity and accomplishing legal obligations. On the contrary in the year 2016, the environment safety clause has not been separately provided in the annual report in government clause, in the manner it has been provided in the year 2013 (Investor information and annual reports, 2016). However, it contains assurance regarding compliance of law and steps taken towards benefits of society in brief. Reporting of CSR on company website The company has more appropriately presented the way in which it has been complying with corporate social responsibility at its website in comparison to the annual report. As all the steps which have been taken are discussed in detail and at one place. It has been specified that company has continued its focus on health and safety at the workplace. The same has been done in order to ensure that people attain their outcomes but in a safe manner, through contributing to operating effectiveness and business sustainability (Project, 2017). Risk management which is being followed by the company has been explained in detail on its website. The primary objective which has been attained through risk management policy is to ensure the potential opportunity and relating harm to the company of that source in an appropriate manner and make necessary strategies for mitigating the same. References Investor information and annual reports. (2016).Investor Information | Allegiance Coal Limited.Allegiancecoal.com.au. Retrieved 25 August 2017, from https://www.allegiancecoal.com.au/irm/content/annual-reports.aspx?RID=381 Investor information and annual reports. (2013).Investor Information | Allegiance Coal Limited.Allegiancecoal.com.au. Retrieved 25 August 2017, from https://www.allegiancecoal.com.au/irm/content/annual-reports.aspx?RID=381 Project, T. (2017).Projects | Allegiance Coal Limited.Allegiancecoal.com.au. Retrieved 25 August 2017, from https://www.allegiancecoal.com.au/irm/content/tewkla-coal-project.aspx?RID=374