Académique Documents
Professionnel Documents
Culture Documents
ITS
NATURE, PURPOSE, NEED AND
INFLUENCE ON COMPANYS FINANCIAL
RESULTS
Finance University under the
Government of the Russian
Federation.
Moscow 2015
OUTLINE
Definition
Management of environmental costs
Toshibas environmental accounting approach
Conclusion
References
DEFINITION
In 1998, the International Federation of Accountants
(IFAC) originally defined environmental management
accounting as:
The management of environmental and
economic performance through the
development and implementation of
appropriate environment-related accounting
systems and practices. While this may include
reporting and auditing in some companies,
environmental management accounting
typically involves lifecycle costing, full cost
accounting, benefits assessment, and strategic
planning for environmental management.
Finance University under the Government of the Russian
Federation.
MANAGEMENT OF ENVIRONMENTAL
COSTS
There are three main reasons why the
management of environmental costs is
becoming increasingly important in
organizations.
First, society as a whole has become more environmentally
aware, with people becoming increasingly aware about the
carbon footprint and recycling taking place now in many
countries.
Second, environmental costs are becoming huge for some
companies, particularly those operating in highly
industrialized sectors such as oil production.
Third, regulation is increasing worldwide at a rapid pace,
with penalties for non-compliance also increasing
accordingly.
Finance University under the Government of the Russian Federation.
Source: https://www.toshiba.co.jp/env/en
Finance University under the Government of the Russian Federation.
Source: https://www.toshiba.co.jp/env/en
Source: https://www.toshiba.co.jp/env/en
Finance University under the Government of the Russian Federation.
Source: https://www.toshiba.co.jp/env/en
Finance University under the Government of the Russian Federation.
CONCLUSION
Many companies need external help in creating or improving
their EMA, as those skills are not widespread and rarely available
internally. EMA has to be tailored to the special needs of the
company rather than be applied as a generic system. The costs
and benefits of building such a system has to be considered and
the scope of the EMA properly selected. Building the EMA
incrementally is a common implementation strategy among
companies.
REFERENCES
List of references
Ralph Adler, Management Accounting - Routledge, 2013
M. Mongiello, Management accounting - LSE, 2013
Michael Ehrhardt, Eugene Brigham, Cengage Learning, Corporate
Finance, 2010
Management and Cost Accounting with Myaccounting Lab Access
Card, Bhimani Alnoor, Reader in Accounting and Finance Department
of Accounting and Finance Alnoor Bhimani, Financial Times Prentice,
2011
Jacqueline Birt, Keryn Chalmers, Suzanne Byrne, Albie Brooks, Judy
Oliver, Business Reporting for Decision Making - John Wiley & Sons,
2012
Annette Becker, Corporate considerations for nature the motivation
behind environmental accounting - GRIN Verlag, 2013.
https://www.toshiba.co.jp/env/en
Finance University under the
Government of the Russian
Federation.