HANS PRINCE DOHERTY
Forensics Journal Research and Review
Table of Contents
Title page 1 - 1
Journal-Research 1 - 20
Appendices 21 - 23
References and Bibliography: 24 - 25
Environmental Management Accounting ...view middle of the document...
This journal paper is focused on describing the better accounting method or approach to promote widespread adoption of environmental accounting practices and to explore the roles that have been suggested for organization reporting of environmental policy, goals and achievements ’.
There is a general consensus with researchers that management and financial accounting both play an integral role in environmental cost approximation for a variety of purposes (Bringer et al, 1994; Makower, 1993; Craig, 1992; Hall, 1992; Jacobson, 1992; Greenberg et al, 1991). Management accounting is conventionally viewed as a part of an organization’s internal control strategy that is directly associated to the production of goods and services. Conversely, as stakeholders experience the hurried defilement of environmental issues, followed by an onslaught of regulations by governmental agencies and the ensuing cost of such regulations, there is an apparent need for environmental cost to be reported in companies’ financial statements . Spitzer, (1995); debated that environmental cost can be significantly reduced as a result of business decisions ranging from operational changes, to the investment in “green” process technology, and the redesign of processes in the production of goods and services.
Spitzer also recommended how EFA and EMA can be used appropriately; and articulated that EFA will account for all estimation and public reporting of environmental liabilities, and financial material environmental costs. Laughlin, 1991, and Gray et al, 1995; unsubstantiated that EFA’s role in response to organization’s changing agenda was an attempt to study organization dynamic process , that is to say, financial accounting needs to develop a theory that will help organization’s to forecast and address multifaceted issues neighboring their long term environmental achievement.
This section will identifies some of the recent development in corporate reporting and how various financial agencies have outlined their requirements to foster accounting for environmental cost. Nowadays regulators believe that relevant costing techniques and organization incentive to promote accounting for environmental costs are needed if technical changes are to be operative; moreover as regulators utmost wish is to set forth to corporate managers how negative environmental costs can influence the environment if it failed to account for their environmental cost when making decisions. The following financial reporting boards such as: Generally Accepted Accounting Principles (GAAP); the Generally Accepted Auditing Standard (GAAS); the International Financial Reporting Standard (IFRS); the U.S. Security Exchange Commission (SEC); the Public Company Accounting Oversight Board (PCAOB); the Financial Accounting Standard Board (FASB); and the Sarbanes-Oxley Act of 2002 necessitates that every organization should provide an overview of key costing techniques, and current framework for accounting...