Managerial Control Systems (Take home exam)

Managerial Control Systems (Take home exam) Essay example
Masters
Essay
Finance & Accounting
Pages 8 (2008 words)
Download 0
Answer to Question No. 1 Carbon management accounting is the aggregate of ‘the tools, structures, and procedures for managing carbon related information,’ and is a component of sustainability accounting that helps companies make short and long-term decisions concerning environmental concerns such as carbon emissions (Burritt, Schaltegger & Svezdov, 2011, p…

Introduction

to significantly reduce these emissions (p. 81). The choice of approach depends upon the nature of the business, its motivations and objectives, and the environment it functions in. As a result, there is no one best way by which organizations may achieve their carbon emission targets. The advantages to the firm in the second to the fourth approaches are self-evident, in that energy savings which reduce emissions reduce costs, and the positive publicity enhances the firm’s standing among its consumers. The first approach has to do with the trading of emissions certificates, wherein businesses whose operations require higher emissions purchase pollution permits from other firms who do not need theirs. In this manner, firms who reduce their emission levels have no need for their emission certificates, and may sell them to other firms and therefore earn revenue. Answer to Question No. ...
Download paper
Not exactly what you need?

Related papers

Managerial Accounting
This money would be classified as cash until the salaries are actually paid. At that point, salaries would come upon a specific salary section on the balance sheet or may even be considered a business expense and taken of the balance sheet altogether. 2) a) The predetermined overhead rate for the year is $5 per direct labor hour. (Manufacturing Overhead/ Direct Labor-hours) ($80,000/ 16,000) = $5…
Managerial Accounting
The balanced scorecard method comprises of four different perspectives like, customer perspectives, financial perspectives, innovation and learning perspective and lastly the internal business process perspective. By the implementation of these perspectives the balance scorecard captures the lagging and the leading indicators which gives a balanced notion over the performance of the organisation.…
Evaluating accounting control systems
The meaning of internal control has changed over the recent years with the development of various internal control models. The COCO model is one of those models. Stone Creek Church in Urbana, Illinois has adopted the COCO framework model for their Internal accounting control system. The Coco model, which builds on COSO (another internal account control model) is the most user-friendly and concrete…
Product Cost and Budgetary Control Methodologies and Systems
The budgetary control systems controls costs through the preparation of budgets, comparing actual performance with the budget. This allows the managers to act upon the budget and results in order to attain maximum profitability (FAO, 2010). Over the last two decades the computer world is changing how companies operate and report. The need to incorporate computerized systems in every business…
Financial Analysis and Control Systems
Importance of Working Capital Management in Budgeting There are various ways of developing working capital and working capital management. These starts with the simple duty of assessing the expenditures, revenue sources and the pending debts on daily, weekly, monthly or yearly basis. It is followed by planning before hand on how to strike a balance between these variables. To provide more cash for…
Management Control Systems
According to Bedford (2006), different MCS components represent a package if they function jointly with the purpose of attaining organisational outcomes. Following this line of discussion, it is further stated that if the links between the control system components (for instance, financial plan and organisation’s traditions) are not sufficient, then the system may not execute its planned…
Accounting Information Systems and Control Issues
A Control Manager warrants efficient and effective exploitation of resources in an organisation so that the planned goals are achieved. It seeks to measure the divergence of actual productivity from the benchmark performance and analyses the causes of the divergence if any and renders measures to take corrective actions. Controlling has several features: As dynamic in nature, it enhances the…