...can be classified as either business or consumer products, depending on the buyer’s intension and these products are marketed difference; they are marketed to different target markets and tend to use different distribution, promotion, and pricing strategies. In my paper, I choose the cleanser (Skincare product) as the consumer products to introduce and tell how they are different from each other as well as the Marketing Mix for all three products. Cleanser for acne skin ofDermalogica, Shiseido, and Neutrogena skincare products are three popular products that are sold at United State with larger market. First of all, as a brand, Dermalogica immediately upset the prevailing paradigm of beauty and glamour by classifying skin care as a health issue as opposed to a cosmetic concern. Just as it removed common irritants from the ingredient menu, Dermalogica also introduced a powerful new element into the brand identity: the specialized expertise of the professional skin therapist.Truly understanding your skin is the first step towards a lifetime of skin health. Start with a Dermalogica professional skin therapist: fortunately, with over 75,000 of them in over 50 countries, chances are you have a skin health expert just around the corner. Clearing mattifier cleanser of Dermalogica is a medicated topical treatment that clears breakouts, reduces congestion and controls shine. Silicones melt gently into skin to help diminish fine lines and smooth skin texture. Niacinamide, Zinc Gluconate,...
Words: 4928 - Pages: 20
...Resources Accounting for Emission Rights Introduction Accounting for greenhouse gas emissions remains a challenge, and market participants continue to wait for clear guidance from accounting standards setters. Formative efforts on the part of those standards setters have proven unsuccessful. The International Financial Reporting Interpretations Committee (“IFRIC”) initially took on this task, and issued IFRIC 3, Emission Rights. Unfortunately, considerable pressure from both the business community and European politicians, who objected to the financial statement consequences of applying that interpretation, led to its withdrawal by the International Accounting Standards Board (“IASB”) within a year of its issuance. In the US, the Emerging Issues Task Force (“EITF”) also attempted to address the related accounting issues in EITF Issue 03-14, Participants’ Accounting for Emissions Allowances under a “Cap and Trade” Program. However, it was never finalized, and ultimately removed from the EITF’s agenda. More recently, organizations have been advised of informal views from both the Financial Accounting Standards Board (“FASB”) and the Securities and Exchange Commission (“SEC”) on the appropriate accounting for emissions allowances held, especially since EITF 03-14 was tabled. As a consequence, many companies remain confused about the appropriate accounting treatments under both International Financial Reporting Standards (“IFRS”) and generally accepted accounting principles in...
Words: 4828 - Pages: 20
...Energy & Resources Accounting for Emission Rights Introduction Accounting for greenhouse gas emissions remains a challenge, and market participants continue to wait for clear guidance from accounting standards setters. Formative efforts on the part of those standards setters have proven unsuccessful. The International Financial Reporting Interpretations Committee (“IFRIC”) initially took on this task, and issued IFRIC 3, Emission Rights. Unfortunately, considerable pressure from both the business community and European politicians, who objected to the financial statement consequences of applying that interpretation, led to its withdrawal by the International Accounting Standards Board (“IASB”) within a year of its issuance. In the US, the Emerging Issues Task Force (“EITF”) also attempted to address the related accounting issues in EITF Issue 03-14, Participants’ Accounting for Emissions Allowances under a “Cap and Trade” Program. However, it was never finalized, and ultimately removed from the EITF’s agenda. More recently, organizations have been advised of informal views from both the Financial Accounting Standards Board (“FASB”) and the Securities and Exchange Commission (“SEC”) on the appropriate accounting for emissions allowances held, especially since EITF 03-14 was tabled. As a consequence, many companies remain confused about the appropriate accounting treatments under both International Financial Reporting Standards (“IFRS”) and generally accepted...
Words: 4828 - Pages: 20
...assigned the topic “Carbon Accounting” by our course teacher for accomplishing our report. 1.2 Objectives of the report ➢ To attain the skill of report writing. ➢ To achieve deep knowledge about Carbon Accounting. ➢ To fulfill the partial requirement of our course of Accounting for Managers. 1.3 Methodology of the report This study was a descriptive research where we have been analyzed mainly secondary data to understand the Carbon Accounting and its application. All the data has gathered for report writing during term. Information collected to furnish this report is mainly from secondary in nature such as related books, journals, periodicals and Websites etc. 1.4 Limitations of the report We have tried our level best to find out the opportunity of work for overcoming the limitation but due to shortage of time, official compulsion and lack of availability of required data it was not possible to collect huge information about the topic. Other limitation is our report is mostly text based. 1.5 What is Carbon Accounting? Carbon accounting refers generally to processes undertaken to "measure" amounts of carbon dioxide equivalents emitted by an entity. It is used by nation states, corporations and individuals. It is the process of measuring, monitoring, benchmarking and reporting an organization Greenhouse Gas Emissions in a defined reporting period. Carbon Accounting is not is a greener form of financial accounting. 1.6 What is the Issue? The recognition of climate...
Words: 5831 - Pages: 24
...Affairs Law Review Volume 39 | Issue 2 Article 7 6-1-2012 Accounting for Emissions Trading: How Allowances Appear on Financial Statements Could Influence the Effectiveness of Programs to Curb Pollution Laura E. Souchik Follow this and additional works at: http://lawdigitalcommons.bc.edu/ealr Part of the Environmental Law Commons Recommended Citation Laura E. Souchik, Accounting for Emissions Trading: How Allowances Appear on Financial Statements Could Influence the Effectiveness of Programs to Curb Pollution, 39 B.C. Envtl. Aff. L. Rev. 475 (2012), http://lawdigitalcommons.bc.edu/ealr/vol39/iss2/7 This Notes is brought to you for free and open access by the Law Journals at Digital Commons @ Boston College Law School. It has been accepted for inclusion in Boston College Environmental Affairs Law Review by an authorized administrator of Digital Commons @ Boston College Law School. For more information, please contact nick.szydlowski@bc.edu. ACCOUNTING FOR EMISSIONS TRADING: HOW ALLOWANCES APPEAR ON FINANCIAL STATEMENTS COULD INFLUENCE THE EFFECTIVENESS OF PROGRAMS TO CURB POLLUTION Laura E. Souchik* Abstract: Cap-and-trade programs to curb carbon emissions frequently rely on the use of tradable emissions credits known as “allowances.” To date, companies' presentations of their usage of these allowances on their financial statements has not been uniform. Cap-and-trade programs will be most effective when presentation of allowances on financial statements is standardized...
Words: 11507 - Pages: 47
...Research Articles Emissions Trading and Carbon Credit Accounting for Sustainable Energy Development With Focus on India A. N. Sarkar Senior Professor (International Business), Asia-Pacific Institute of Management, New Delhi, India Abstract Global climate change is inextricably linked with the enhanced build-up of greenhouse gases. Emissions- trading in the form of carbon credits or CERs is opening up a new vista of trade opportunities with prospect for gradual reduction of emissions particularly by the developed nations under Annexure-I categories. Various national and international programmes undertaken by the government and voluntarily by the non-government agencies have positively impacted on progressive reduction of emissions in many parts of the world. The paper highlights the emerging issues linked to the modalities of emission-trading, together with scope for developing sound accounting procedures for trading carbon credits. Paper discusses the opportunities for developing a sound marketing system of carbon credits with built-in efficiency in transactions, accountability and transparency in reporting systems with focus on India. Paper also GMJ,VOL 4,ISSUE 1 & 2, JANUARY - DECEMBER 2010 underlines the need to comply with the Global Accounting Standards, Tax Planning, access to Multi-commodity Exchange Market, certification, verification and enforcement procedures for proper execution of emission-trading initiatives aimed at achieving carbon neutrality. The aspects...
Words: 19274 - Pages: 78
...MEMORANDUM Polluter Corp operates three manufacturing facilities in which various household cleaning products are manufactured and sold to retail stores. Polluter has a certain emission allowances for each year that are classified as intangible assets. Because it anticipates a need for additional emission allowances for the years 2010 – 2014, it purchased $3 million in emissions credits from Clean Air Corp. on April 2, 2010. A complete renovation of its facilities will be completed by 2014, at which point in time Polluter expects to have additional emission allowance that it does not need. Therefore, to offset the cost of having to purchase emissions credits until the renovations are complete, Polluter sold $2 million worth of future emissions credits to Dirty Chemical Corp. The question of how to account for these transactions in the statement of cash flows has been raised. This memo discusses and evaluates the relevant options. Definitions Accounting Standards Codification 230-10 Statement of Cash Flows 230-10-20 Glossary Financing Activities Financing activities include obtaining resources from owners and providing them with a return on, and a return of, their investment; receiving restricted resources that by donor stipulation must be used for long-term purposes; borrowing money and repaying amounts borrowed, or otherwise settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Investing Activities ...
Words: 2793 - Pages: 12
...Corporation is a manufacturing firm in the United States registered with the Securities and Exchange Commission. Polluter Corp. operates three facilities manufacturing various household cleaning products. These products produced are sold to retail customers. The United States government funded their company with emission allowances (EAs). An emission allowance is an authorization to emit a fixed amount of a pollutant. An emissions allowance is sometimes also referred to as a permit. An allowance is a fully marketable commodity that may be bought, sold, or traded for use by entities covered by the program. The government granted those EAs with varying vintage years which is the number of years the allowance may be used. Polluter Corp. EAs were to be used between 2010 and 2030 which is substantial time. Once the company received their receipt they record the EAs as intangible assets with a cost basis of zero, in accordance with The Federal Energy Regulatory Commission (FERC). FERC is accounting guidance for EAs so companies understand rules and regulations associated with the allowance. Governing bodies generally issue rights to help control or reduce the emission of pollutants and greenhouse gases. They also allow entities to emit a specified level of pollutants. EAs individually have vintage year designation, but EAs with the same vintage year destination are replaceable and can be replaced by another identical item. EAs with the same vintage year destination also can...
Words: 806 - Pages: 4
...Research Project Report Submitted to the Faculty of AMITY BUSINESS SCHOOL AMITY UNIVERSITY UTTAR PRADESH by Aamir Malik(B 43) Anuj Dubey(B 55) MBA (G) 2013-2015 October 2013 __________________________________________________ INDEX S.No | Topic | Page No. | 1. | Acknowledgement | 4 | 2. | Abstract | 5 | 3. | Introduction | 5-6 | 4. | How carbon credit Trading works | 7 | 5. | Global Scenario | 8 | 6. | Analyzing Indian Scenario | 9 | 7. | Benefits for India | 10-11 | 8. | Financing Up port in India | 11-12 | 9. | Business Mechanism and Carbon exchange | 12-13 | 10. | CDM process and carbon Trading | 14 | 11. | Accounting and Tax treatment In different Countries | 15-17 | 12. | CASE 1: Buddhil Hydro Electric Power Ltd. | 18-20 | 13. | CASE 2: Greenply Industries Ltd. | 21-22 | 14. | CASE 3: Reliance Power | 23 | 15. | Future Of Carbon Trading | 24-25 | 16. | Conclusion | 26 | 17. | References | 27 | ACKNOWLEDGEMENT I have taken efforts in this project. However, it would not have been possible without the kind support and help of many individuals and organizations. I would like to extend my sincere thanks to all of them. I am highly indebted to Ms. Lakhwinder Kaur Dhillon Mam for their guidance and constant supervision as well as for providing necessary information regarding the...
Words: 4759 - Pages: 20
...Accounting 5110 – Fall 2012 Critical Writing Case Section 1 by 7:30 am Section 2 by 3:40 pm Section 3 by 10:45 am Due November 21, 2013 Please submit your memo in Canvas The attached case presents an accounting dilemma and asks you to provide guidance on the proper accounting. Prepare your guidance in memo format. The purpose of this assignment is to help you recognize an accounting problem, gather and weigh relevant information, consider and evaluate alternatives, and reach and articulate informed solutions. I strongly encourage you to make use of a service here on campus – the University Writing Center (UWC). UWC provides one-on-one writing consultation free to university students. Unlimited half hour sessions are available. UWC now has an office in the business building – SFE 1171. To make an appointment follow this link: http://uath.mywconline.com/. The final draft of your memo should not exceed two pages, single-spaced, one-inch margins, 12 point font. The memo will be graded based on the attached rubric. Criterion Organization Points possible 5 100% Appears neat and organized; no spelling or grammar errors; uses active voice; guides the reader through the case; gets to the point Summarizes the facts completely; key facts identified; distinguishes between facts and assumptions ...
Words: 1306 - Pages: 6
...Relevant financial reporting standards As noted earlier, a number of existing standards and interpretations directly and indirectly deal with environmental issues. In this respect, BFRS 6 (implementation January 2007) for example directly deals with extractive industries and IFRIC 5 provides the guidance for decommissioning, rehabilitation and restoration of environment related expenditure. IFRIC 3 (still under discussion) and BAS 38 (intangibles) deal with government allocated emission rights, trades in these rights and the impairment of the emission allowances. Furthermore, it is important to note that a number of other standards provide an indirect support for the recognition, measurement and disclosure of environmental assets and liabilities. BAS 37 (provisions for contingent liabilities and assets) can be linked to environmental liabilities. BFRS 3, BAS 27, BAS 28, BAS 31, BAS 24 and BFRS 8 respectively deal with business combinations, investments in joint ventures and associates, related party disclosures, and specify the reportable segments of a geographically dispersed global company. Listed local manufacturing companies, subject to certain exemptions, are expected to comply with BFRS. An environment perspective to financial reporting standards therefore provides a new insight; an insight that is useful for monitoring and protecting the environment. The relevant standards are discussed below. Paragraph 11 of BFRS 6 states the following: “In accordance...
Words: 1119 - Pages: 5
...CHAPTER ONE INTRODUCTION 1.1 Background to the Study The need for Environmental Accounting has become the concern and focus of nations and responsible corporate managements. It became one of the foremost issues on the agenda of nations and businesses earlier in the 1990s and the reasons for this were varied emanating from both within and outside of the firm and particularly at the global level (Okoye and Ngwakwe:2004:220-235). A lot of government enactments, laws and regulations on environmental protection have been made in several nations of the world. In the light of the awakening to environment protection, various laws and regulations such as the Environmental Impact Assessment Act, 1992 have been enacted. These require corporate managements to consider the environmental implications of all internal decisions of their managements. Also, all organizations monitored by environmental policy agencies in Kenya are expected to demonstrate much consideration in decision making. Environmentalists agree that it could be more cost effective and beneficial for companies to acquire pollution prevention or clean technology than those of pollution clean-up. It is also observed that in environmental regulations, there is a shift from the ‘command and control’ approach to market-driven forms in which pollution prevention alternatives are replacing pollution cleaning approach. It follows therefore, that determining the appropriate pollution prevention approach may lead to additional decisions...
Words: 5970 - Pages: 24
...2011 state and trends of the 2011 Environment Department This report was prepared by a World Bank team comprising of Nicholas Linacre, Alexandre Kossoy and Philippe Ambrosi, with important contributions from Manelle Aït Sahlia, Veronique Bishop, Benoît Bosquet, Christophe de Gouvello, Taisei Matsuki and Monali Ranade. 2 | State and Trends of the Carbon Market 2010 New Approach for the 2011 Report With the goal of providing a comprehensive discussion of the issues that most affected the carbon market in 2010, the authors of last year’s report have restructured State and Trends of the Carbon Market for 2011. The report still provides an overview of the size and reach of the carbon markets, as well as the evolution of the Kyoto flexibility mechanisms, and offers potential supply/demand scenarios for coming years. However, it no longer includes a detailed breakdown of carbon transactions, as in previous years. Instead, the report provides a more in-depth analytical discussion of the regulation and policy issues that will guide future carbon market development. The findings and opinions expressed in this report are the sole responsibility of the authors and should not be cited without permission. They do not necessarily reflect the views of the World Bank Group, its Executive Directors, the countries they represent or of any of the participants in the carbon funds or facilities managed by the World Bank. The World Bank does not guarantee the accuracy of the data included in...
Words: 41282 - Pages: 166
...MBA Financial and Managerial Accounting Assignment 2012 Question 1 : Question 1.1 An Asset is objects that you own. These assets are divided in 2 classes e.g. Non - Current Assets , which are assets that may take longer than a year to convert such as property, Investments ext. Current Assets on the other hand is assets that is quickly to converted into cash , such a debtors ( someone who owes you money ) inventory and cash. A liability is defined by the following characteristics; any type of borrowing from persons or banks for improving a business or personal income that is payable during short or long time; there are 2 types of liabilities. Non-current liabilities are loans which can be paid over a longer period than a year e.g. a mortgage bond. A current liability on the other hand is short terms debts that must be repaid within a year e.g. creditors (someone you owe money ) , Bank overdraft and SARS income tax, Question 1.2.1 Liquidity Ratio is determined by Current Assets – stock divide current liabilities Abe Ltd. | Bee Ltd | Abe Ltd liquidity is very limited as the ratio is 1:1R0 liquidity is available as all assets and liabilities are covering each other. | Bee Ltd. liquidity is more flexible with more than R70 000 liquidity available. | Abe Liquidity will find it difficult to meet each short term needs unless it is able to obtain additional current assets through the conversion of current assets or through financing, or through profitable operating...
Words: 2588 - Pages: 11
...user through unique logon identifications, passwords, access cards or biometric data. “User authorization” consists of access rules to determine the computer resources each user may access. Specifically, such procedures are designed to prevent or detect: • • • • • Unauthorized access to on-line terminal devices, programs and data; Entry of unauthorized transactions; Unauthorized changes to data files; The use of computer programs by unauthorized personnel; and The use of computer programs that have not been authorized. *Accounting estimate—An approximation of a monetary amount in the absence of a precise means of measurement. This term is used for an amount measured at fair value where there is estimation uncertainty, as well as for other amounts that require estimation. Where ISA 540 2 addresses only accounting estimates involving measurement at fair value, the term “fair value accounting estimates” is used. *Accounting records—The records of initial accounting entries and supporting records, such as checks and records of electronic fund transfers; invoices; contracts; the general and subsidiary ledgers, journal entries and other adjustments to the financial statements that are not reflected in formal journal entries; and records such as work sheets and spreadsheets supporting cost allocations, computations, reconciliations and disclosures. Agreed-upon procedures engagement—An engagement in which an auditor is engaged to carry out those procedures of an audit nature to which the...
Words: 10496 - Pages: 42
