...Executive Summary This report provides an analysis and evaluation of Triple Bottom Line (TBL) accounting. Many corporations adopt and follow the novel term, along with the public increasing public concern of social and environmental performances. The research pays attention to the arguments for and against the TBL accounting in corporate accounting reporting. Many companies concur with the significance of concept to reinforce their business, yet others hold the view that TBL is accompanied by diverse debates. The findings of this review show that TBL accounting: • Refers to a good tool of the measurement of accountability and transparency • Provides a beneficial opportunity to obtain the value of a corporate name and the market share in completion • Contributes to the reduction of production cost and the conservation of environment through making use of resources efficiently • Improves corporate management and employee productivity due to the measurement of accountability and transparency • Impacts on a core competency of business and a social situation • Adjusts a methodology to measure social and environmental performances TBL accounting with economic, social, environmental activities has been some negative thus far. However, the arguments against TBL accounting, which are related to core competency, poor societies and measure standard, are still doubtful and cannot address a strong persuasive in opposition to...
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...Executive Summary Chevron commits huge resources to tackle environmental risks; this report studies the viability of doing so. We find that (1) it is using a right combination of internal and external tools to increase workers’ awareness, diversify environmental risks and mitigate moral hazard at the same time; and (2) the Decision Making (“DEMA”) system is valuable to the company in providing a systematic framework to quantify environmental risks. Introduction Chevron operates in the business of petroleum and natural gas exploration, production, refining and marketing, and as such faces huge environmental risks such as oil spills and exhaust emissions. Throughout the years Chevron has honoured its claim in “Protecting People and the Environment” by committing a higher proportion of revenues to environmental spending than its competitors. However, environmental risks and the benefits of managing them are by nature hard to be quantified, while the costs are obvious and substantial. This report studies the viability of Chevron’s investments in two steps. First, it examines the tools Chevron uses to manage environmental risks, and explains why they are different from those used to manage other risks. Second, the report will analyse the pros and cons of the novel DEMA system, an attempt by Chevron to systematically quantify environmental risks. What tools is Chevron currently using to manage environmental business risk? We have categorized the tools currently adopted by Chevron...
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... 21 - 23 References and Bibliography: 24 - 25 Environmental Management Accounting (EMA) versus Environmental Financial Accounting (EFA): If so, what is the significance of knowing the better accounting method to use when identifying environmental cost? It has become indispensable for companies to increase their responsibility regarding all facets of the environment and to acclimatize existing practices to cause limited environmental impairment; more especially at this present time when stakeholders linger ‘bitterly’ about how corporate failure have influence organization’s environmental performance and measurement issues. Yoking this emergent obligation within the corporate sector is consequently a strategic component in any strategy for accomplishing the goal of sustainable development; and evaluating the viability of such a strategy requires both the resolution of scientific and manufacturing problems; and also the attention of how organization’s account for environmental cost to demonstrate their corporate social responsibilities. The Environmental Management Accounting (EMA) and the Environmental Financial Accounting (EFA) are the two mainstream accounting approaches that have allowed an upsurge in the demand for relevant information to augment...
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...external environment certainly impel the adjustments in management philosophy, business strategy, institutional framework, human resource, maritime logistics culture and other aspects in maritime logistics management. Therefore, the study on maritime logistics management has both theoretical significance and practical significance. Cost reduction strategies have been frequently applied in the global maritime logistics. However, it has both advantages and disadvantages in global business. Therefore, it is very necessary to make the most use of cost reduction strategies according to the unique character of maritime logistics. With the guidance of modern management theory and management innovation theory, this paper discusses the cost reduction strategies and green strategies in global maritime logistics, and presents the idea that management is an objective requirement for maritime logistics development in the new situation. The paper summarizes the achievements and deficiencies in maritime logistics innovation of cost reduction strategies in the implementation of green strategies, mainly discusses the bottleneck factors that restrict maritime logistics management, and proposes that the main problems in maritime logistics management are vague management concept, unscientific strategy formulation, and he maladjustment of maritime logistics culture, etc. On the basis of learning and introducing Singapore maritime logistics network management philosophy and practical experience, the...
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...examined by UCLES. Although no previous study of the subject is assumed by the syllabus, it would be recommended that students should have done 'O' Level Business Studies 1.2 1.3 2 SYLLABUS AIMS The syllabus is intended to lead to courses that will encourage students to: 2.1 2.2 Understand and appreciate the nature and scope of business and its role in society; Develop critical understanding of organisations, the markets they serve and the process of adding value. This should involve consideration of the internal workings and management of organisations and, in particular, the process of decision making in a dynamic environment; Be aware of the economic, environmental, ethical, governmental, legal, social, technological etc issues associated with business activity; Develop skills in: decision making and problem solving in the light of evaluation, the quantification and management of information, where appropriate, effective communication, entrepreneurship. The emphasis should be on the application of concepts and issues to the local context where appropriate. 2.3 2.4 2 ASSESSMENT OBJECTIVES Candidates are expected to demonstrate the following skills: 3.1 3.2...
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...DEPARTMENT OF ACCOUNTING MASTERS IN ACCOUNTING AND FINANCE (M.Sc) ACC 512 – ADVANCED MANAGEMENT ACCOUNTING “ENVIRONMENTAL MANAGEMENT ACCOUNTING AS A STRATEGY FOR CORPORATE SUVIVIAL” PRESENTED TO THE COURSE LECTURER – PASTOR j a OLOREDE BY; OLUMIDE ABISOYE OLOWOKURE PGSS/UJ/00083/10 Introduction Environmental accounting is a broader term that relates to the provision of information on environmental-performance to different stakeholders both within, and outside, an organization. The United States Environment Protection Agency (US EPA) sees the main function of environmental accounting as that of bringing environmental costs to the attention of corporate stakeholders who may be able and motivated to identify ways of reducing or avoiding those costs while at the same time improving environmental quality. Environmental accounting has three major aspects. 1. National Income accounting, which addresses the environmental accounting need of the nation and it’s external in nature. It is basically the micro economic measure which may use for instance physical or monetary units to refer to the consumption of the nation’s natural resources. 2. Financial accounting which addresses the environmental accounting needs of the firm this is also external in nature. This may simply be the estimation and public reporting of environmental liabilities and financial material environmental costs. 3. Managerial/management accounting, this...
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...Critical Perspectives on Accounting- MMPA 516 Journal This Journal provided me an opportunity to express my views and critically analyze the different aspects to which accounting relates. It had been a great experience and a great approach to express ones opinion. 2014 Harleen Kaur Juneja 300289064 6/3/2014 Critical Perspectives on Accounting- MMPA 516 Journal This Journal provided me an opportunity to express my views and critically analyze the different aspects to which accounting relates. It had been a great experience and a great approach to express ones opinion. 2014 Harleen Kaur Juneja 300289064 6/3/2014 TABLE OF CONTENTS 1. INTRODUCTION Page 2 2. ACCOUNTING IN ITS WIDER SENSE Page 3 3. ACCOUNTING AND EDUCATION Page 4 4. ACCOUNTING AND WAR Page 8 5. ACCOUNTING AND GLOBAL FINANCIAL CRISIS Page 11 6. ACCOUNTING AND CSR Page 13 7. REFERENCES Page 15 INTRODUCTION In this course I was surprised to see the other face of accounting. Till date I use to see the stereotypical accounting course that teaches us on a pattern to make us number crunchers who can arrange, categorize, and report details in a manner so unreasoned that only other accounting student can understand them. I had not seen to possess the more important reasoning skills that are necessary for the real life problem solving and business leadership, except to my exception in the MMPA 511 course taught by Arun Elias...
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...Chapter 17 International Accounting and Financial Management True / False Questions 1. The purpose of all accounting is to provide internal and external decision-makers with the financial data they need to make their decisions. True False 2. There are three points at which operating in a foreign currency raises accounting issues: when transactions are made in foreign currencies, when foreign subsidiaries consolidate their results to the parent company, and when debt is acquired in foreign currencies. True False 3. FASB 52 requires that companies record foreign currency based transactions at the spot rate at the time of the transaction. True False 4. Consolidation is when a company's various results are aggregated into one report. True False 5. The current rate translation method translates current assets at the rate in effect when they were acquired. True False 6. The temporal method of translation translates fixed assets at the rates in effect the day the assets were acquired. True False 7. Whether to use the current or temporal rates depends on the functional currency of the foreign operation. True False 8. Accounting is an objective, fact-based discipline and not influenced by culture. True False 9. Accounting standard convergence is unlikely, given the complexities of the systems, all of which would require harmonization. True False 10. With convergence...
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...ITM UNIVERSITY UPARWARA, NEW RAIPUR Syllabus for MASTER OF BUSINESS ADMINISTRATION EFFECTIVE FROM THE SESSION: 2012-2013 Semester –I ITM UNIVERSITY, NEW RAIPUR Master of Business Administration Semester –I List of subject for Academic Session 2012 – 13. Serial No. 1. 2. 3. 4. 5. 6. 7. 8. List of Subjects Principles of Management Managerial Economics Financial Accounting Environment Management Quantitative Techniques Business Legislation Communication Skills- I Computers for Managers ITM UNIVERSITY, RAIPUR Master of Business Administration Subject: Principles of Management Semester-I Unit I Introduction - Nature, function, definition and importance of management, Definition, nature, purpose and scope of management, Functions of a manager, an overview of planning, organizing, staffing leading and controlling. Is management a science or art? Unit II Development of Management Thought - Scientific management; Contribution of Taylor, Fayol, Mary Follet, Elton Mayo; Hawthorne experiments, Contingency approach, Indian heritage in production and consumption. Management and administration, Management as a profession, Professionalism of management in India, Management ethics and management culture, Skills required of manager, Classification of skills, Methods of skills development. Unit III Management Planning - Concept of planning, objectives, Nature, Types of plan, Stages involved in planning, Characteristics of a good plan, Importance, Limitations of planning, Making...
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...“meeting the needs of the present without compromising the ability of future generations to meet their own needs”. – www.sustain.ucla.edu Recently reporting on certain sustainability issues have now become mandatory to report – “UK government announces that under the Companies Act 2006, companies are now required to report their emissions in their directors’ report”. * Why is it important Along with the recent introduction of the G4 standards and the GRI recommendations, the significance of a sustainability report has become progressively more critical as pressures on companies both publically and institutionally to provide and publish reports increases in light of recent natural disasters. It is said that we “use about 40% more resources every year compared to what we put back”, some companies make it their mission to make it known that they give back to the environment e.g. Velvet. There is a need for a measurement system to be put in place to assess industry’s impact however currently accounting is inadequate for numerous reasons. - - http://ezproxy.bcu.ac.uk:2055/science/article/pii/S0155998210000128 The increase in awareness has meant that external users e.g. customers, investors and even shareholders are making decisions based on these reports. Detailed reports may lead to interest from potential investors and may set them apart from competitors. The report allows a company to establish a link between their policies and how those policies contribute to a sustainable...
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...Accounting, Auditing & Accountability Journal Emerald Article: Sustainability accounting and reporting: fad or trend? Roger L. Burritt, Stefan Schaltegger Article information: To cite this document: Roger L. Burritt, Stefan Schaltegger, (2010),"Sustainability accounting and reporting: fad or trend?", Accounting, Auditing & Accountability Journal, Vol. 23 Iss: 7 pp. 829 - 846 Permanent link to this document: http://dx.doi.org/10.1108/09513571011080144 Downloaded on: 04-11-2012 References: This document contains references to 57 other documents Citations: This document has been cited by 12 other documents To copy this document: permissions@emeraldinsight.com This document has been downloaded 5947 times since 2010. * Access to this document was granted through an Emerald subscription provided by UNIVERSITI MALAYSIA TERENGGANU For Authors: If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service. Information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.com With over forty years' experience, Emerald Group Publishing is a leading independent publisher of global research with impact in business, society, public policy and education. In total, Emerald publishes over 275 journals and more than 130 book series, as well as an extensive range of online products and services...
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...Combining Qualitative and Quantitative Methods In Environmental Accounting Research Evangeline Elijido-Ten Faculty of Business and Enterprise, Swinburne University of Technology Address for correspondence: Faculty of Business and Enterprise Swinburne University of Technology John Street, Hawthorn Victoria, Australia 3122 Phone: +61 3 9214 4471 Fax: +61 3 9819 2117 E-mail: eelijidoten@swin.edu.au 1 Combining Qualitative and Quantitative Methods In Environmental Accounting Research Abstract Purpose: To explore how the combination of quantitative and qualitative methods can enhance a study on the environmental reporting decisions made by Malaysian companies using the emergent stakeholder theory. Methodology/approach: The paper provides an illustration of how the descriptive, exploratory and explanatory type of research is entrenched with the objectives of the research and how the combination of quantitative (statistical regression and weighting/mean ranking) and qualitative (archival analysis, qualitative interviews) methods may enhance accounting research not only from results that corroborate. Findings: The three-fold objective of this study, corresponding to its three phases, illustrates that combining qualitative and quantitative methods involves considerations at each phase of the investigation. The research design shows that when the researcher work with different types of data within the same project, the way data is used varies according...
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...and studies found out that several factors of this study could absolutely change and affect the grades of the students. Not a single factor can definitely pointed out as a predicting grade. It has been interplay of so many factors – gender, IQ, study habits, age, year level, parent’s educational attainment, social status, number of siblings, birth order, etc. In fact, almost all of existing environmental and personal factors are a variable of academic performance. In this research study, focus is on the effect of study habits in the academic performance of students, specifically the second year BS Accountancy students. BS Accountancy is one of the toughest courses in the world. It is extremely specialized: the curriculum requires study sufficient for professional practice (often at the major-level) in financial accounting, management accounting, auditing, and taxation. The curriculum also includes general coverage of management and business mathematics, and intermediate coursework in business law and economics. Thus, in order for them to fulfill the requirement of the curriculum, accounting students needs to have a proper time management and study habits. Study habits, defined as the regular tendencies and practices that one depicts during...
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...pp. 23-30. 2012. Green Accounting for Corporate Sustainability BETTINA HÓDI HERNÁDI ASSISTANT LECTURER e-mail: vgtbetti@uni-miskolc.hu SUMMARY Today, corporate sustainability is one of the greatest challenges facing companies. Therefore, this study aims to show how accounting, as the language of business and the source of information, can meet the criteria of sustainability. This article starts out by analysing the different approaches to corporate sustainability, then it proposes the reinterpretation of the most important accounting principle, the ‘going concern’ principle. In the following section it outlines the characteristics of accounting from the point of view of sustainability. Finally, it proposes ways of transforming green accounting, both in name and content, into sustainability accounting. Keywords: corporate sustainability; the ‘going concern’ principle; green accounting (environmental accounting); sustainability accounting Journal of Economic Literature (JEL) code: M41 INTRODUCTION According to the Brundtland Commission (1987, p. 43), “Sustainable development is development that meets the needs of present generations without compromising the similar needs of future generations. The concept interprets sustainable economic, ecological and social development as a unity.” Today’s companies must also comply with the challenges stemming from this approach, and therefore they must also implement economic, social and environmental goals. The reduction of pollution...
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...The objective of this study is to determine, from accounting perspective, the environmental consequences of the operations of oil and gas companies in the Niger-Delta region of Nigeria. The study was motivated by the curiosity to explain what goes on in the Niger-Delta region in the light of environmental degradation and the continuous agitation for a sustainable approach to corporate social responsibility (CSR). The study adopted the ex-post facto research design. Questionnaires were used to collect data from primary sources while relying on previous studies for secondary data. The Yaro Yamani sampling determination technique was applied to a sample size of 300 respondents drawn from a population of three million. Data collected were analysed...
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