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Environmental Analysis (company reporting) - Essay Example
Environmental accounting is now a sub part of accounting proper. There are different branches of accounting(Thompson, 1995) such as partnership accounting, corporation accounting, Sole proprietorship and limited companies. The purpose of environmental accounting is to combine the costs of originally pure economic accounting with the new science of economic accounting…
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. ...