1.Describe the quantitative approach to disclosing social responsibility

2. Describe the full cost approach to social responsibility accounting. What has been one of

the most significant problems with this approach? Explain.  3. ‘If environmental disclosures in business financial statements remain unregulated and in the hands of individual accountants, then financial reporting of the environmental impacts of businesses is likely to remain piecemeal and biased’ (Australian Financial Review, 22 March 1995, p. 34). Discuss. What regulations are required to improve the quality of corporate reporting on environmental issues?