36). Anticipations of high principles of ethical corporate conduct are rising as corporations face economic and legal penalties for pursuing illegal and unethical practices. Businesses cause environmental degradation, which have negative impacts on society. Environmental degradation is an ethical concern among businesses and society. As a result, businesses have developed corporate strategies in order to address the growing concern of unethical behavior such as environmental degradation (Gowthorpe & Blake 1998, p. 178). This paper seeks to discuss the development of environmental and ethical bookkeeping practices as a new bookkeeping discipline. Green and Ethical Accounting Practices The advantage of corporate environmental bookkeeping initiative is recognized the capability, to establish and create consciousness regarding expenditures related to surroundings, which in turn assists in identifying the methods for avoiding and reducing such costs. This corporate environmental initiative has assisted in the improvement of the environment. The ecological costs that arise as a result of the financial results of a company’s operation may be established by means of environmental bookkeeping tool. The operational performance of an organization may be established with an aid of certain processes such as documentation and exposure of emissions of conservatory gases (Farouk, Cherian & Jacob 2012, p. 37). Aronson and Lofgren (2010, p. 21) argue that society commends for the ecological responsible conduct from businesses and government by investigating the environmental degradation and tragedies of world’s ecosystem. Businesses are given this responsibility by the society for solving the ethical troubles by considering either preserving the environment or promoting their profit. Wells (2013, p. 13) argues that there ought to be homogeneous and quantitative measures with an aim of controlling the business activities polluting the surroundings before executing a condition in which businesses are required to clean the effluence emitted by them. It is better preventing environmental degradation rather than avoiding since most of the ecological damages may not be restructured. Wells (2013, p. 18) recommends the establishment of environmental bookkeeping system in order to avert environmental degradation. The system deems the monetary measures, which have an impact on energy generation and utilization on environment. As a result of the process, the energy plant that highly affects natural resources is deemed and consequent actions needed are conducted. He also recommends that ethical predicaments may be resolved when ecological stewardship is put in terms of monetary way, and that achieves extra significance from business. The significance of the ecological predicaments has been augmented, as a result, of the continuous degradation of ecosystem and increasing ecological tragedies. Schaltergger & Burritt (2000, p. 44) argues that in order to entail ecological predicaments in normal life it is imperative to consider these predicaments with respect to legal, technical, economic, financial and accounting levels. In view of the ecological factors in terms of the economy for instance costs of products and services,
Name: Tutor: Course: Date: University: The Development of Green and Ethical Accounting Practices as a New Accounting Discipline Introduction Green accounting is deemed to be a significant mechanism of understanding the powerful factors of natural surroundings with respect to the economy…
A theoretical framework is a “set of interrelated constructs (concepts), definitions, and propositions that presents a systematic view of phenomena by specifying relations among variables.” (Sevilla et al., 1992) In this research study, the main framework is to describe social accounting practices in Thai rural society.
The main objective is to extend the range of monetised information which covers social, environmental and economic impact on which decisions are made. Sustainability accounting has been defined as the generation, analysis and use of monetarised environmental and socially related information in order to improve corporate environmental, social and economic performance (Sigma Projects, 2003).
The 'Pooling Method', used at present, imposes added costs to the users and prepares of the financial statements. The allocation of resources is also adversely affected, for want of credible information.
An overview of Claire’s Antiques reveals that it had been in the business for the past ten years and is now striving hard to grow its product line and target customer market. It manufactures only three types of antiques – clock, dinette sets and bedroom suites. These products have different market share, varying profit.
Corporate scandals such as the collapse of Enron invariably turn the attention of the public to the ethical stance of accountants and the ethical values of financial analysts and evaluators as also their claim to professionalism. Professionalism is clearly associated with ethical integrity and this is especially true on the case of financial reporting and accounting.
you did not think it fit and proper to examine the financial statements prepared by the external accounting department discloses your dissatisfaction with the present state of affairs within the Company, and mostly with the present inventory and accounting system. The
In contrast to its sister area, financial accounting which is particularly related to providing financial data to external stakeholders, its purpose is to provide accounting information to internal stakeholder of an
eporting various factors such as the nation’s political state, environmental and legal among others tend to affect from the outside of accounting and this has hampered the development of the financial reporting in diverse nations. This essay seeks to examine the aspects that
3 pages (750 words)Essay
Got a tricky question? Receive an answer from students like you!Try us!
Let us find you another Essay on topic Critically discuss the development of green and ethical accounting practices as a new accounting discipline for FREE!