In your studies you have been introduced to systems based accounting theories.Professor Frederick Shallow, a strongly positive accountant, believes that the only reason for businesses to exist is to make wealth for the investor, and has led you to believe that systems based theories are not worthy subjects for exploration.Equally he believes that stakeholder engagement, beyond that applicable to the powerful stakeholder group, the investor, is a waste of time. He wishes to see an end to non-regulatory disclosures and in particular to the wasteful expense he believes is spent on sustainability reporting and discussions of integrated reporting.

Fortunately, Professor Shallow, who could not bring himself to discuss system-based theories, sustainability or integrated reporting or any area of corporate social reporting, invited Professor Reginald Thoughtful, a respected expert researcher in the area of CSR to talk to you about this area.You found Professor Thoughtful most impressive and started to question the ideas Professor Shallow had been impressing on you for weeks.

What are significant terms that I should discuss and exemplify for 500 words?

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