Task 1 Traditionally, Accountants are concerned themselves with their bottom linesor the monetary profits their businesses made. Today, more leaders have begun to think sustainably. The triple bottom line theory expands the traditional accounting framework to include two other performance areas: the social and environmental impacts of their company.

Requirement

Select an annual report of public listed company in Oman and assess the application of Triple bottom line approach and corporates social responsibility in the published accounts. (12 marks)

Discuss the reason for entities to comply with the conceptual framework for financial reporting while preparing the financial statements. (3 marks)