Earth bound: the rise and fall of a ground-breaking venture

Earth Sanctuaries Ltd (ESL) intends to offer its entire asset base for sale. ESL's primary objective is to conserve Australia's biodiversity, by breeding and preserving fauna profitably by running sanctuaries, environmental consultancies and related tourist facilities. This "ailing company" is also undergoing a management restructuring and attempting cost reduction. ESL was was one of the first firms to adopt AASB 1037. The implications for the accounting profession are discussed.