The environmental costs will include the amount the company will have to pay in order to indemnify the victims of the company's water waste victims. The environmental costs will include the amount of money spent to clean up the land and water area that they has been contaminated with dirty water sewage
as well as the pollution of the air by the smokestacks with the company's carbon dioxide emissions in violation of the law. The environmental costs includes costs to clean up the company's contaminated sites, penalties for violation of the UK and Germany environmental laws. Environmental accounting also includes the taxes that the company will be able to save because the net income of the business has been reduced by money invested in environment saving devices.
According to Wolfgang Ballwieser, there are many major key features of the German Accounting System 1Accounting in Germany. One of which is that it is influenced by the Roman Law system. The German finance financial accounting is regulated by the law from the start to the finish. The start begins with the gathering of business financial data that will be used in the recording of daily business transactions what will be recorded and how it will be recorded. The finish of the accounting in our basic accounting course(Larson,1995) is the part when the financial statements such as the balance sheet and the income statements as well the statement of cash flows are produced. The most important accounting law in Germany is the Handelsgesetzbuch or simply known as the HGB commercial code. This German accounting law is composed of regulations(Sussland, 2000) that are depending on the which of business the German company is involved in. The business could be a sole proprietorship which means that is owned by only one individual or businessman or businesswoman. Another form of business organization is the balance sheet. The partnership is composed of two or more persons who will agree to contribute, money or industry to the partnership in order to generate income. The partners then agree to distribute the profits by dividing such based on a pre agreed profit and loss distribution plan. The last kind of organization is the corporation. The corporation is composed of shareholders who willingly invests their hard earned cash in the business but do not partake in the minor day to day business operations. This same German accounting law gives laws based on the size of the business. This Same German accounting law use the factor of what kind of business the company is engaged in.
The German accounting system in all situations, even the predictable events, must be based on the Grundstze ordnungsmiger Buchfhrung or GoB which is described as the principles of regular accounting. The Gob had previously originated from accounting for business transactions. The the Grundstze ordnungsmiger Buchfhrung or GoB is a major factor in accounting for tax purposes because both the commercial accounting(Ross et al, 1996) and the tax computation process are related. The method of accounting will either increase or decrease the amount of taxes that the business enterprise will pay the government of Germany.
Therefore, the process of using group accounting is now legally