...two chemicals is causing the most damage to the environment. Tables have proven that there is an excessive use of the Dyetype material. Both chemicals have been calculated using the life-cycle assessment to show unit cost per kilogram price for each product. The findings from the report immediately draw attention to the Dyetype chemical having the most environmental impact out of the two chemicals. The company also discovers that there are additional toxins being released which require $2,700,000 to cover the total costs. The Balance Scorecard is considered for the effects of toxin releases. If there is an fifth perspective to the balance scorecard Eco efficiency must be contributed adding environmental perspective to the Mudjimba Chemical Ltd plant. Table of Contents Executive Summary i 1. Introduction 1 1.1 Purpose 1 1.2 Scope 1 1.3 Limitations 1 2. Environmental Cost Categories 2 3. Environmental Activity Costs 3 3.1 Inventory Analyse 3 3.2 Impact Analyse 4 3.3 Improvement Analyse 4 4. The Environmental Damage 5 5. Toxin Release Costs 6 6. The Additional Environmental Perspective 7 7. List of References 11 1. Introduction 1.1 Purpose The purpose of this report is to calculate the environmental cost for two products being produced by a manufacturing company. The report then will use this information to identify which of the products appears to cause the most degradation to the environment. Justification is provided as to whether recalculation...
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...Question 1: The Management Accounting Environment Word Count allowed 500 – Actual word count 536 a) How Management Accounting can contribute to competitive advantage and competitive strategy b) How Management Accounting Information can be used for the proposed strategy GTH Ltd manufactures hearing aids and other innovative products for the deaf community; the business is looking at the differentiation strategy and the possibility of expanding into foreign markets, specifically developing countries. Management accounting focuses on subunits of the business, which allows the analysis of a variety of aspects of the business, such as processes, departments and specific products to ensure that the actual results are tracking close to the plans. Whereas financial accounting is an overall view of the business which produces reports for the external stakeholders and must adhere to the NZ accounting standards. Management accounting is not governed by such standards, if something can be measured it can be analysed, controlled and influenced. The differentiation strategy of innovation means that GTH Ltd needs to continually design and develop innovative products. Management accounting information is important and it must be received by managers in a timely manner so that production processes can be changed rapidly in response to innovations within the R&D team and in response to changes in the competitive environment. Management accounting can track the innovations...
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...Fundamentals of Accounting The Accounting Environment http://homeworkfy.com/downloads/bus-3061-fundamentals-of-accounting-the-accounting-environment/ To Get this Tutorial Copy & Paste above URL Into Your Browser Hit Us Email for Any Inquiry at: Homeworkfy@gmail.com Visit our Site for More Tutorials: (http://homeworkfy.com/ ) BUS3061- Fundamentals of AccountingThe Accounting EnvironmentResources • The Accounting Environment Scoring Guide. • APA Style and Formatting. • Writing Feedback Tool. • Accounting Principles: A Business Perspective, Financial Accounting. This assignment will familiarize you with the very beginnings of the accounting function in an organization. After completing this assignment, you will understand: • The functions performed by accounting in a business organization. • Available career options in the accounting field. • How the field of accounting is subdivided into categories. • The organizations involved in setting generally accepted accounting principles (GAAP). • The role ethics plays in the accounting function. Instructions Respond to the following questions using grammatically correct language and appropriate APA citations. To achieve a proficient grade in this assignment, answer the proficient-level queries for each question. To achieve a distinguished grade, answer both sets of queries for each question. 1. Question 1: o Proficient-level: There are several important functions performed in an organization, among which accounting is one...
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...CHAPTER 1 The Accounting Environment: What Is Accounting and Why Is It Done? QUESTIONS Q1-1. A variety of answers are possible but the essential elements are the production and communication of information so that stakeholders can make decisions. Q1-2. Financial accounting is concerned with providing information to those outside an entity such as investors, lenders, and CRA. Managerial accounting provides information to those inside the entity such as managers and other decision makers. Table 1.3 provides differences: Table 1.3 DIFFERENCES BETWEEN FINANCIAL AND MANAGERIAL ACCOUNTING | |Financial Accounting |Managerial Accounting | |Stakeholders |External to the entity. Includes investors, |Internal to the entity. Managers and other | | |lenders, taxation authorities (such as the |employees. | | |Canada Revenue Agency), competitors, and many | | | |others. These stakeholders usually don’t have | | | |direct access to information about the entity | | | ...
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...CHAPTER 1 THE CHANGING ROLE OF MANAGERIAL ACCOUNTING IN A DYNAMIC BUSINESS ENVIRONMENT Learning Objectives 1. Define managerial accounting and describe its role in the management process. 2. Explain four fundamental management processes that help organizations attain their goals. 3. List and describe five objectives of managerial accounting activity. 4. Explain the major differences between managerial and financial accounting. 5. Explain where managerial accountants are located in an organization, in terms of formal organization, deployment in cross-functional teams, and physical location. 6. Describe the roles of an organization's chief financial officer (CFO) or controller, treasurer, and internal auditor. 7. Briefly describe some of the major contemporary themes in managerial accounting. 8. Understand and explain the concepts of strategic cost management and the value chain. 9. Understand the ethical responsibilities of a managerial accountant. 10. Discuss the professional organizations, certification process, and ethical standards in the field of managerial accounting. Chapter Overview I. The Management Process in Organizations A. What is managerial accounting? B. Management activities 1. Decision making 2. Planning 3. Directing operational activities 4. Controlling II. How Managerial Accounting Adds Value to the Organization A. Provides information...
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...Management Accounting Environment Introduction Every organization small, medium and large needs someone to be in charge of day to day activities that is going to be responsible for decision making, planning, controlling, directing personnel, outlining organization structure and will be responsible for taking strategies in competitive advantages. In today’s business environment, corporate organizations need to take every advantage they can to remain competitive due to highly increasing competition in the market, i.e. electronics commerce ( e-commerce) and introduction of new technology day by day. Customers need specialized products and service and accurate information convening product they are purchasing, product availability, order status, delivering time. Shareholders expect greater value from their investment and accurate information of the financial status of the company. This new competitive environment requires companies ability to create value for their customers and to differentiate themselves from their competitors through the formulation of clear business strategy. In today's business environment, knowledge is power so business strategy must be supported by appropriate organizational factors such as accounting information systems, organizational design and effective manufacturing process Management Accounting deals with provision of information inside the company - that is, the process of identifying, measuring and forecasting, analyzing, interpreting...
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...Global Environments in Accounting University of Phoenix Principles of Accounting ACC/300 Global Environments in Accounting Yum! Brands, Inc. is a worldwide food service company with over 40,000 restaurants in 125 countries. According to Yum! Brands financial statements the company has been profitable over the last two years. They have been able to this by lower the costs of food production. According to the Yum! Brands website over 70% of their revenue comes from outside the United States. Most of this expansion has occurred in developing markets were they have over 14,000 restaurants, which is nearly double of the nearest competitor. Yum! Brands has been able to position themselves for growth and would be a wise investment due to their long term growth potential. When reviewing data from the financial statements specifically we can see potential in the current ratio and the debt to worth ratios over the last two quarters. Yum brands current ratio for first quarter 2014 stands at 0.84 showing that the companies relative liquidity can handle the majority of their liabilities immediately. When compared to the last quarter of 2013 which stood at 0.75 we can see that liquidity rose by nearly 10 percent. Solvency is also a concern when reviewing possible investments and Yum brands finished the fourth quarter of 2013 with a 74% debt to worth ratio fell to 73% exhibiting growth in shareholder equity. Yum! Brands Debt Security A debt security, also known as fixed income securities...
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...a) Briefly outline what you understand by environmental accounting and environmental reporting? Throughout this essay the social accounting issue ‘environmental accounting’ will be discussed. Environmental accounting is ‘the practice of including the indirect costs and benefits of a product or activity, for example, its environmental effects on health and the economy, along with its direct costs when making business decisions.’ Also ‘the term environmental accounting is frequently used within the accounting and environmental management literatures. Environmental accounting is a broader term that relates to the provision of environmental-performance-related information to stakeholders both within, and outside, an organisation.’(epa.vic). There are many definitions for environmental accounting, however, there is no accepted single definition. Environmental accounting is also connected to Green accounting. Green accounting is seen as one of the most important aspects of environmental accounting. ‘The term, green accounting, has been around since the 1980s, and is known as a management tool used for a variety of purposes, such as improving environmental performance, controlling costs, investing in “cleaner” technologies, developing “greener” processes and products, and forming decisions related to their business activities.’(articalbase). Being a ‘green’ company it has a positive impact and makes the company or business look good. It also measures ‘carbon footprint’, how sustainable...
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...Accounting is not the same as it used to be. Advancements in information technology have transformed the accounting process and the ways in which accountants undertake their roles. Bookkeeping, calculations and data storage that were previously maintained on paper are now all processed on computers through the use of accounting information systems. It is a known fact that accounting is influenced by external factors such as the economy, laws and society and it must persist to remain current with all the factors that affect the accounting process to maintain its effectiveness. Society has had a great influence over the accounting process, so much so, that a notion stating some information regarding the internal workings of a company should be made available to the public, forced the mandatory disclosure of a company’s financial information to its stakeholders as well as the public. Society has also influenced accounting in a more indirect manner. This can be illustrated by how the societal push towards a more environmentally aware culture forced new regulations and standards such as ISO 14001 (International Organization For Standards, 2010) to be established to reflect this perceptional change, which in turn indirectly created compulsory costs for a company pertaining to the promotion of environmental sustainability. Companies are now obligated to offset their pollution levels and any harmful bearings their corporate activities cause to the environment, as well as...
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...Ways in which Management Accounting contributes to Green Tourism that can add value to A Country’s Tourism Industry. Management accounting refers to the processes and techniques that focus on the effective and efficient use of organizational resources, to support managers in their tasks of enhancing both customer value and shareholder value. (Langfield Smith & Kim, 2009:6). Conversely, Green tourism describes basic tourism focused on visiting wildlife sites, historical heritage and sustainable tourism which does not damage the sites and communities being visited and a travel which is environmentally friendly. The undesirable state of the natural environment contaminated with harmful substances as consequences of human activities in regards to air, land and water is called Pollution. It is vital the tourism industry thrives being Fiji’s main income earner. To maximize the customer and shareholder value, it is imperative for Fiji to promote Green tourism which can be achieved by reducing pollution. Business firms need relevant and timely information regarding their level of waste disposal. Therefore, the management accounting techniques assist the managers develop strategies to curtail the impact of their business operations on the environment namely, pollution, which would in turn contribute to green tourism attracting more visitor arrivals whilst adding value to Fiji’s tourism. The tourism sector is vital for Fiji’s economy as it provides employment, earned over $850...
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... Executive Summary The organization being described in this paper is Somerset CPA, which is one of the largest accounting firms found in Indiana. They have been repeatedly awarded for their outstanding work environment throughout the last decade. This company has been constantly improving themselves through there continued efforts to be an important tool for the customers to use. They pride themselves as being a customer oriented company. Through this dedication to the customer the company has gone through extensive expansions to a numerous amount of different account fields in which they can successfully partake in. This paper will describe a variety of different aspects that help to illustrate the type of organization that Somerset is. Some topics being discussed are the history of the company, employee discussions, cultural artifacts, involvement with the community, and more. These different parts all help to define the organizational behavior of the company. According to the Colquitt textbook organizational behavior is the study to defining and comprehending the different entities that make up an organization. By analyzing the company managers are better able to identify what is necessary for change to put into practice the best possible work environment. History of Somerset Somerset CPA was originally started as a certified public accounting institution known as Whippie & Company in 1960. During the early stages of the company primary tasks were in...
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...Introduction (Corporate Social Responsibility and the impact it has on society at a global level is studied (discussed/investigated) as we look at whether current regulations are sufficient or mandatory regulations are required in order to sustain our environment in the future.) Since the 1990’s there has been an increasing trend for companies to provide information regarding the environmental implications of their operations (Gozali et al., 2002). This has arisen due to the increasing importance of environmental issues worldwide, and as such there is increased discussion on whether environmental reporting should become regulated internationally or continue to remain voluntary. The environment disclosures are generally through a sustainability report, which may also include the social and economic performance of an organisation. This is commonly referred to as triple bottom–line reporting, and is tied together closely with the term Corporate Social Responsibility. What is Corporate Social Responsibility? While sustainable development is most commonly defined as ‘development that meets the needs of the present world without compromising the ability of future generations to meet their own needs’ (World Commission on Environment and Development – Brundtland Report, 1987), Corporate Social Responsibility focuses on the mission and values of an organisation and its obligations and impacts on a wider range of stakeholders. (CSR (promotes) principles are for sustainability, accountability...
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...Business Environment Analysis Background Environmental analysis is a systematic process that starts from identification of environmental factors, assessing their nature and impact, auditing them to find their impact to the business, and making various profiles for positioning. A common process of environmental analysis or scanning is discussed in the following section. Environmental Analysis Process A business manager should be able to analyze the environment to grasp opportunities or face the threats. Organizations need to build strength and repair their weakness available in the business environment. Therefore, this process consists not only a single steps but a process of various steps. Environmental analysis comprises scanning, monitoring, analyzing, and forecasting the business situation. Scanning is to get the relevant information from the information overload. It is to focus on the most relevant information. Monitoring is to check the nature of the environmental factors. Analyzing requires data collection and use of different required tools and techniques. Forecasting is to find the future possibilities based on the past results and present scenario. Environmental analysis process is not static but a dynamic process. It may differ depending on the situation. However, a general process with few common steps can be identified as the process of environmental analysis these are a) Monitoring or identifying environmental factors, b) Scanning and selecting...
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...| UNIVERSITY OF SOUTH AUSTRALIA Assignment Cover Sheet – Internal | An Assignment cover sheet needs to be included with each assignment. Please complete all details clearly. If you are submitting the assignment on paper, please staple this sheet to the front of each assignment. If you are submitting the assignment online, please ensure this cover sheet is included at the start of your document. (This is preferable to a separate attachment.) Please check your Course Information Booklet or contact your School Office for assignment submission locations. Name: Xueying Sha | Student ID | 1 | 1 | 0 | 0 | 5 | 9 | 7 | 2 | 1 | Email: shaxy008@mymail.unisa.edu.au | Course code and title: CONTEMPORARY ISSUES IN ACCOUNTING M | School: | Program Code: | Course Coordinator: Dr. ELVIA SHAUKI | Tutor: Elvia Shauki/Haniff Zainuldin | Day, Time, Location of Tutorial/Practical: | Assignment number: | Due date: May 6, 2013 | Assignment topic: The incorporation of social and environmental factors within external reporting | Further Information: (e.g. state if extension was granted and attach evidence of approval, Revised Submission Date) | I declare that the work contained in this assignment is my own, except where acknowledgement of sources is made. I authorise the University to test any work submitted by me, using text comparison software, for instances of plagiarism. I understand this will involve the University or its contractor copying my work...
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...natural resource problems they face has become increasingly clear. In doing so—and before they finally accept that the responsibility for tackling these problems is theirs, not something to be pushed onto future generations—they typically move through a number of stages. These have included: ignorance awakening denial guilt reduction, displacement behaviour, and tokenism conversion integration In the wake of the publication of Our Common Future, the 1987 report of the World Commission on Environment and Development,' and the UN Conference on Environment and Development (UNCED) held in Rio de Janeiro in June 1992, the concept of sustainable development—involving the integration of environmental thinking into every aspect of social, political, and economic activity—has become central to the environmental debate. This article considers some of the ways in which business is now developing new "win-win-win" strategies in this area to simultaneously benefit the company, its customers, and the environment. I Towards the Sustainable Corporation 91 Sustainable Strategies? Most countries are still some considerable way from genuine conversion to the cause and realities of sustainable development, let alone the effective integration of environmental sustainability as a national priority. But we are beginning to see an early crop of strategies designed to move individual national economies—and even the...
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