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Exploring the objectives of Borealis new budgeting system

Borealis abandoned its traditional budgeting system in 1995 and implemented a new system, which is set to achieve 4 objectives:
Improve financial management and performance measurement.
Decentralise authority and decisions.
Simplify the budgeting process.
Reduce the resources used in the process.
In this report, we would examine failings in the current budgeting process and modifications that would make the existing system more useful. We would then provide more suggestions to Borealis’ new system and evaluate if Beyond Budgeting is a suitable system for other companies.
Introduction Borealis is the world’s fourth largest polyolefins producer and its main competitors are Dow, Exxonmobil, Basell (Shell

Corporate Social Responsibility In Mauritius Accounting Essay

ABSTRACT The purpose of this study is to scrutinize the current practice of CSR that firms in the financial sector and the tourism sector, more precisely banks and hotels, have to engage themselves in CSR activities and to investigate the relationship between CSR and financial performance. In Mauritius Corporate Social Responsibility (CSR) has gained much popularity and has become a subject of concern, after that the government has introduced an innovative legislation about CSR. Previous research on the topic is reviewed, the engagement of Firm in CSR. This study by means of questionnaires, also tries to investigate their motivations behind investing in CSR. Data collected was then analyzed using SPSS. The results highlighted that there are no differences between banks and hotels in the motives to engage in CSR activities. The results also highlighted that there is a relationship between CSR and Financial performance. Also the implications of other findings are discussed and the study concludes with its limitations and directions for future research.
CHAPTER 1: INTRODUCTION OVERVIEW OF CORPORATE SOCIAL RESPONSIBILITY (CSR) Mauritius since Post- colonial independence, the country over the last four decades have seen the mono-crop sugar island, our first pillar of the economy has significantly moved from the Sugar industry to Financial services industry on large scale offshore financial institutions from multinational companies to local industries, such as the Giant of Rogers Group, Air Mauritius, Island Blyth, Floreal Textile, Mauritius Commercial Bank (MCB), Barclays Bank, HSBC and others.
The field of Corporate Social Responsibility has developed exponentially in the last decades. In the past two decades, CSR appears to have become more omnipresent and perceived as being actually pertinent to companies all over the world (Aras and Crowther, 2008). It is at the forefront of strategic outlook of contemporary organisations of all kinds. A larger number of companies than at any time before are engaged in a serious efforts to define and incorporate CSR into all facets of their businesses. In recent years a great deal of time and attention has been devoted to the concept of corporate social responsibility. This basis has considered it necessary to take notice not only of the economic and financial transactions in a company, but also the social and environmental consequences a business places on its shareholders and society as well as the ecological “footprint” in all aspects of their operations, which extends beyond their statutory obligation to comply with legislation.
CSR has variously been described as a ‘motherhood issue’ (Ryan 2002, p. 302) ‘the hot business issue of the noughties’ (Blyth 2005, p. 30) and ‘the talk of the town in corporate circles these days’ (Mees