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Environmental Accounting in United Arab Emirates - Assignment Example
Author : lorahintz
Finance & Accounting
Pages 8 (2008 words)
Enter university logo Course name: Course code: Environmental Accounting in the United Arab Emirates Name: Student ID: Instructor name: Date: Semester: Environmental accounting in United Arab Emirates Introduction Environmental accounting is part of non financial disclosure aligned to best practice in corporate governance…
This is of significance especially when the company intends to attract new investors and retain shareholders through confirming confidence in its stability and transparent management practice. Globally several federal regulations exist targeting to improve practice of environmental accounting and disclosure of vital information among the business community. These include i. The comprehensive environmental response, compensation and liability Act (CERCLA) 1980 which requires corporate dealing with potentially harmful substances to incur the cost of remediation. ii. Resource conservation and recovery Act(RCRA) 1976 which establishes responsibility for monitoring, transportations, treatment, storage and disposal of potentially hazardous substances iii. The clean air Act 1990 which seeks to reduce the amount of harmful gaseous emissions disposed by corporations (Farouk, Cherian &Jacob 2012, p.1-8) Besides these several other environmental regulations have been developed especially with emerging concern of environmental cost of manufacturing. While in some regions, these are compulsory requirement the AUE region lags behind in implementation. ...