Financial Report: A major global disaster (in this case an oil spill) has caused

Question

Financial Report: A major global disaster (in this case an oil spill) has caused environmental damage and has affected global transportation as well. As the controller from online store company, you are tasked with providing a financial report to the board of directors addressing how this event will affect your company.

A. Analyze the effects of the global disaster on the financial statements from online store company using the financial information from your company.

B. Recommend strategies to address the effects of the disaster on your chosen company based on your analysis

Explanation / Answer

In the given case environmental damage because of oil spill. Duet to oil spill liquid petroleum or hydrocarbon will release into ocean or land. If it is released in ocean so many plants, animals, fishes, birds, people etc who depended on that area of sea are suffer. Oil layer prevents the passing of sun light into water of the ocean it effects the water plants and water animals. Usually this oil spill may occur due to human negligence. Due to this type of environment pollutions company may lose their goodwill in the customers and public. It negatively impacts the sales of the company as well as profit. Therefore, company need to avoid human negligencies.

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