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Question: 942 read accounting headline 9 15 which discusses the health...

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9.42 Read Accounting Headline 9. 15, which discusses the health effects caused by tobacco, and then:
 
(a) Explain how or why tobacco companies can report accounting profits even though the consequences of their activities are believed to be causing significant social and economic impacts within society.
 

(b) Suggest an approach to accounting that would require tobacco-producing organisations to internalise the social and economic impacts that their products create for society. Your suggestion can represent a departure from existing or traditional accounting practices. LO 9.11

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