Green Accounting Essay example
Masters
Essay
Finance & Accounting
Pages 10 (2510 words)
Download 0
Green Accounting Introduction Accounting for Sustainability Development Sustainability Accounting is a tool which can be employed to assist companies in becoming more sustainable. It identifies the importance of financial information in the transformation and shows how traditional methods of accounting can be extended to take account of sustainability impacts at the organisational level (Sigma Projects, 2003)…

Introduction

It is based on the existing financial accounting standards. In United Kingdom it is a combination of a company law and company accounting standards framed by the regulatory bodies which is utilised by the accounting professionals of UK (Sigma Projects, 2003). Different countries follow different kinds of GAAP (Generally Accepted Accounting Principles) accounting principles based on their regulatory and legal frameworks. Sustainability and sustainable accounting have different meanings and applications. The concept was first coined by Brundtland Commission and published in the report Our Common Future in the year 1987 (Christofi and Sisaye, 2006). It involves the effective and optimum utilisation of resources and reducing carbon emissions, wastage, environmental impacts. Sustainability accounting on the other hand helps in the financial reporting and communication about the sustainability initiatives and actions to the shareholder’s and stakeholders of the company. ...
Download paper
Not exactly what you need?

Related papers

Green buildings
the LEED checklist. Local governments are also responsible to involve economists and modelers to ensure effectiveness of existing standards and achieve the desired goals which should be in line with cost-benefit analyses. Last but not least cities must consider the choice between the two types of buildings whilst ensuring that their green building ordinances could come-up with the desired changes…
accounting
Uniformity will allow for comparisons in the industry as a whole and that will ensure that the best performing entities are noted. The other advantage of uniform accounting is the fact that it will be easier for the relevant authorities to check the books of accounts when it is required. That will reduce any instances of tax evasion or any other crimes that are associated with manipulation of…
Critically discuss the development of green and ethical accounting practices as a new accounting discipline
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…
Management Accounting
Well whatever the reason is, it is surely time that we sit down, assess and analyse the system as a whole and try coming out with both, a reason and a solution for all this happening. Arguably the main reason of reaching such a unpleasant situation is that, major stakeholders, whether it’s the big companies or the government, they have mainly focussed on short term achievement and plans rather…
Environmental Accounting in United Arab Emirates
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…
Management Accounting
However, contrary to this, the visual arts platform of the society constantly remains under the financial pressures and vulnerability even in the sound economic conditions of the country. The proponents of the visual arts, on this vulnerable situation of the visual arts platform have been raising constant voices over the matter. One the of such voices claim that visual arts organisations in order…
Managerial and Cost Accounting
This is because managerial accounting provides information and reports that may be used by organizations to identify areas within the organization that need additional investigation and examination. Managers use information provided by managerial accounting such as budgets to make decisions and plans. The information provided by managerial accounting can be used by managers to solve problems.…