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The world’s energy supermajors had a bountiful 2022. ExxonMobil, the largest of the private-sector giants, reported: Accounting Principles Essay, NCL, UK
| University | Nelson College London (NCL) |
| Subject | Accounting Principles |
The world’s energy supermajors had a bountiful 2022. ExxonMobil, the largest of the private-sector giants, reported a record annual net profit of $56bn after Russia’s invasion of Ukraine sent oil prices soaring. Mouth-watering—unless you are Saudi Aramco, in which case it is peanuts. Last year the desert kingdom’s oil giant brought in some $160bn of net income, the most by any company in corporate history.
- Examines the purpose of the accounting function within business organizations using appropriate examples from real-life businesses and the business given in the case study.
- Assesses how ethics and regulation impact the role of the accounting function in an organization and the extent to which these factors are beneficial for a business organization.
- Evaluates the context and purpose of the accounting function in meeting organizational, stakeholder, and societal needs and expectations and critically evaluate the role of the accounting function in informing decision-making and meeting organizational, stakeholder, and societal needs and expectations.
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