NON ALCOHOLIC BEVERAGES Sustainability Accounting Standard

Non Alcoholic Beverages Sustainability Accounting Standard-Free PDF

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NON ALCOHOLIC BEVERAGES,Sustainability Accounting Standard. About SASB, The Sustainability Accounting Standards Board SASB provides sustainability accounting standards for use by. publicly listed corporations in the U S in disclosing material sustainability information for the benefit of investors. and the public SASB standards are designed for disclosure in mandatory filings to the Securities and Exchange. Commission SEC such as the Form 10 K and 20 F SASB is an independent 501 c 3 non profit organization. Through 2016 SASB is developing standards for more than 80 industries in 10 sectors. About this Standard, This Standard is an exposure draft presented for public review and comment This version is not intended for. implementation, The public comment period lasts for 90 days beginning on Wednesday January 14th 2015 and ending on. Tuesday April 14th 2015 The Standard is subject to change thereafter. For instructions on providing comments to SASB please click here. SUSTAINABILITY ACCOUNTING,STANDARDS BOARD,75 Broadway Suite 202.
San Francisco CA 94111,415 830 9220,info sasb org,www sasb org. The information text and graphics in this publication the Content is owned by Sustainability Accounting Standards Board All rights. reserved You may use the Content only for non commercial and scholarly use provided that you keep intact all copyright and other. proprietary notices related to the Content and that you make no modifications to the Content The Content may not be otherwise. disseminated distributed republished reproduced or modified without the prior written permission of Sustainability Accounting. Standards Board To request permission please contact us at info sasb org. 2015 SASB SUSTAINABILITY ACCOUNTING STANDARD NON ALCOHOLIC BEVERAGES. Table of Contents,Introduction 1,Purpose Structure 1. Industry Description 1, Guidance for Disclosure of Material Sustainability Topics in SEC filings 2. Guidance on Accounting of Material Sustainability Topics 4. Users of the SASB Standards 4,Scope of Disclosure 5. Reporting Format 5,Limitations 6,Forward Looking Statements 7.
Assurance 7, Material Sustainability Topics Accounting Metrics 8. Energy Management Fleet Fuel Consumption 10,Water Management 13. Health Nutrition 15,Product Labeling Marketing 17,Packaging Lifecycle Management 20. Environmental Social Impacts of Ingredient Supply Chains 23. 2015 SASB SUSTAINABILITY ACCOUNTING STANDARD NON ALCOHOLIC BEVERAGES. INTRODUCTION,Purpose Structure, This document contains the SASB Sustainability Accounting Standard SASB Standard for the Non Alcoholic Beverages. SASB Standards are comprised of 1 disclosure guidance and 2 accounting standards for sustainability topics. for use by U S and foreign public companies in their annual filings Form 10 K or 20 F with the U S Securities and. Exchange Commission SEC To the extent relevant SASB Standards may also be applicable to other periodic. mandatory filings with the SEC such as Forms 10 Q S 1 and 8 K. SASB s disclosure guidance identifies sustainability topics at an industry level which may be material depending on a. company s specific operating context to a company within that industry. Each company is ultimately responsible for determining which information is material and is therefore required to be. included in its Form 10 K or 20 F and other periodic SEC filings. SASB s accounting standards provide companies with standardized accounting metrics to account for performance on. industry level sustainability topics When making disclosure on sustainability topics companies adopting SASB s. accounting standards will help to ensure that disclosure is standardized and therefore useful relevant comparable. and auditable,Industry Description, The Non Alcoholic Beverages industry produces a broad range of beverage products including various carbonated.
soft drinks syrup concentrates juices energy and sport drinks teas coffee and water products Industry participants. partake in syrup manufacturing marketing bottling operations and distribution with larger companies typically. being more vertically integrated into finished product operations that bottle sell and distribute the finished products. The industry currently faces challenges with addressing the health and nutritional benefits of its products Additionally. the purchase of raw ingredients such as water and sugar is among the industry s largest expenses and creates supply. challenges in areas considered to be water stressed and or exposed to shifting weather patterns associated with. climate change, 2015 SASB SUSTAINABILITY ACCOUNTING STANDARD NON ALCOHOLIC BEVERAGES 1. Guidance for Disclosure of Material Sustainability Topics. in SEC Filings,1 Industry level Sustainability Topics. For the Non Alcoholic Beverages industry SASB has identified the following sustainability topics. Energy Management Fleet Fuel Product Labeling Marketing. Consumption,Packaging Lifecycle Management,Water Management. Environmental Social Impacts of,Health Nutrition Ingredient Supply Chains. 2 Company level Determination and Disclosure of Material Sustainability Topics. Sustainability disclosures are governed by the same laws and regulations that govern disclosures by securities issuers. generally According to the U S Supreme Court a fact is material if in the event such fact is omitted from a particular. disclosure there is a substantial likelihood that the disclosure of the omitted fact would have been viewed by the. reasonable investor as having significantly altered the total mix of the information made available 1 2. SASB has attempted to identify those sustainability topics that it believes may be material for all companies within each. SICS industry SASB recognizes however that each company is ultimately responsible for determining what is material. Regulation S K which sets forth certain disclosure requirements associated with Form 10 K and other SEC filings. requires among other things that companies describe in the Management s Discussion and Analysis of Financial. Condition and Results of Operations MD A section of Form 10 K any known trends or uncertainties that have had. or that the registrant reasonably expects will have a material favorable or unfavorable impact on net sales or revenues. or income from continuing operations If the registrant knows of events that will cause a material change in the. relationship between costs and revenues such as known future increases in costs of labor or materials or price. increases or inventory adjustments the change in the relationship shall be disclosed 2. Furthermore Instructions to Item 303 state that the MD A shall focus specifically on material events and. uncertainties known to management that would cause reported financial information not to be necessarily indicative. of future operating results or of future financial condition 2. In determining whether a trend or uncertainty should be disclosed the SEC has stated that management should use a. two part assessment based on probability and magnitude. First a company is not required to make disclosure about a known trend or uncertainty if its management. determines that such trend or uncertainty is not reasonably likely to occur. TSC Industries v Northway Inc 426 U S 438 1976,C F R 229 303 Item 303 a 3 ii.
2015 SASB SUSTAINABILITY ACCOUNTING STANDARD NON ALCOHOLIC BEVERAGES 2. Second if a company s management cannot make a reasonable determination of the likelihood of an event. or uncertainty then disclosure is required unless management determines that a material effect on the. registrant s financial condition or results of operation is not reasonably likely to occur. 3 Sustainability Accounting Standard Disclosures in Form 10 K. a Management s Discussion and Analysis, Companies should consider making disclosure on sustainability topics as a complete set in the MD A in a. sub section titled Sustainability Accounting Standards Disclosures 3. b Other Relevant Sections of Form 10 K, In addition to the MD A section companies should consider disclosing sustainability information in other. sections of Form 10 K as relevant including, Description of business Item 101 of Regulation S K requires a company to provide a. description of its business and its subsidiaries Item 101 c 1 xii expressly requires disclosure. regarding certain costs of complying with environmental laws. Appropriate disclosure also shall be made as to the material effects that compliance with Federal State and local. provisions which have been enacted or adopted regulating the discharge of materials into the environment or. otherwise relating to the protection of the environment may have upon the capital expenditures earnings and. competitive position of the registrant and its subsidiaries. Legal proceedings Item 103 of Regulation S K requires companies to describe briefly any. material pending or contemplated legal proceedings Instructions to Item 103 provide. specific disclosure requirements for administrative or judicial proceedings arising from laws. and regulations that target discharge of materials into the environment or that are primarily. for the purpose of protecting the environment, Risk factors Item 503 c of Regulation S K requires filing companies to provide a discussion. of the most significant factors that make an investment in the registrant speculative or risky. clearly stating the risk and specifying how a particular risk affects the particular filing. c Rule 12b 20, Securities Act Rule 408 and Exchange Act Rule 12b 20 require a registrant to disclose in addition to the.
information expressly required by law or regulation such further material information if any as may be. necessary to make the required statements in light of the circumstances under which they are made not. misleading, More detailed guidance on disclosure of material sustainability topics can be found in the SASB Conceptual. Framework available for download via http www sasb org approach conceptual framework. 2015 SASB SUSTAINABILITY ACCOUNTING STANDARD NON ALCOHOLIC BEVERAGES 3. Guidance on Accounting of Material Sustainability, For sustainability topics in the Non Alcoholic Beverages industry SASB identifies accounting metrics. SASB recommends that each company consider using these sustainability accounting metrics when disclosing its. performance with respect to each of the sustainability topics it has identified as material. As appropriate and consistent with Rule 12b 204 3 for each sustainability topic companies should consider. including a narrative description of any material factors necessary to ensure completeness accuracy and comparability. of the data reported Where not addressed by the specific accounting metrics but relevant the registrant should. discuss the following related to the topic, The registrant s strategic approach to managing performance on material sustainability issues. The registrant s competitive positioning,The degree of control the registrant has. Any measures the registrant has undertaken or plans to undertake to improve performance and. Data for the registrant s last three completed fiscal years when available. SASB recommends that registrants use SASB Standards specific to their primary industry as identified in the. Sustainable Industry Classification System SICS If a registrant generates significant revenue from multiple. industries SASB recommends that it consider the materiality of the sustainability issues that SASB has identified for. those industries and disclose the associated SASB accounting metrics. Users of the SASB Standards, The SASB Standards are intended for companies that engage in public offerings of securities registered under the.
Securities Act of 1933 the Securities Act and those that issue securities registered under the Securities Exchange Act. of 1934 the Exchange Act 4 for use in SEC filings including without limitation annual reports on Form 10 K Form. 20 F for foreign issuers quarterly reports on Form 10 Q current reports on Form 8 K and registration statements on. Forms S 1 and S 3 Nevertheless disclosure with respect to the SASB Standards is not required or endorsed by the. SEC or other entities governing financial reporting such as FASB GASB or IASB. SEC Rule 12b 20 In addition to the information expressly required to be included in a statement or report there shall be added such. further material information if any as may be necessary to make the required statements in the light of the circumstances under which. they are made not misleading, Registration under the Securities Exchange Act of 1934 is required 1 for securities to be listed on a national securities exchange. such as the New York Stock Exchange the NYSE Amex and the NASDAQ Stock Market or 2 if A the securities are equity securities. and are held by more than 2 000 persons or 500 persons who are not accredited investors and B the company has more than 10. million in assets, 2015 SASB SUSTAINABILITY ACCOUNTING STANDARD NON ALCOHOLIC BEVERAGES 4. Scope of Disclosure,Unless otherwise specified SASB recommends. That a registrant disclose on sustainability issues and metrics for itself and for entities in which the registrant. has a controlling interest and therefore are consolidated for financial reporting purposes controlling interest. is generally defined as ownership of 50 or more of voting shares 5. That for consolidated entities disclosures be made and account. The Non Alcoholic Beverages industry produces a broad range of beverage products including various carbonated soft drinks syrup concentrates juices energy and sport drinks teas coffee and water products Industry participants partake in syrup manufacturing marketing bottling operations and distribution with larger companies typically

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