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Macsween's Environmental Accounting Experience: is it Viable - Essay Example
Finance & Accounting
Pages 10 (2510 words)
1. Introduction Business processes are only viable so as long as they are able to fulfil the basic contention behind business activity – making profit. One of the chief reasons why organisations and businesses have been slow to adopt environmental practices is because the means are often not justified by the ends…
Often it is not possible to tabulate costs for the introduction of cleaner business practices because of opportunity costs and due to liquid costing areas. However, the renewed emphasis on cleaner business practices is leading a number of businesses to adopt multiple approaches to deal with the issue of costs. Macsween is a traditional haggis manufacturer with a family owned structure operating the business for over three generations. James Macween the owning director of the company has come up with a new method to introduce cleaner business practices in recent years. James believes that environmental accounting is essential to discovering areas where the company can save money by implementing environmentally friendly business practices. The company has embarked on a journey to make business processes and finances more transparent so that other businesses can take cue and improve their environmental practices. However, the approach taken by Macsween has yet to prove that it is actually financially viable to adopt such practices. The larger roadblocks that prevent the viability of such practices is the lack of information that is required to determine the fiscal validity of such practices. This text will focus on using methods to elucidate if Macsween’s processes are viably tuned for environmental savings. ...
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