ENVIRONMENTAL ACCOUNTING AND REPORTING PRACTICES OF HINDUSTAN PETROLEUM CORPORATION LIMITED ABSTRACT: In recent years, due to increased global warming and environment degradation, environment protection has assumed utmost priority at the international level. There is a growing pressure for the corporate enterprises to consider environmental effects of their business operations. As a result, accounting and disclosure of environmental matters have rapidly been emerging as an important dimension of
-Lee Iacocca 1.0 INTRODUCTION The modem concept of sustainability was originally defined at the World Commission on Economic Development in 1987, often known as the Brundtland Commission. At the most basic level, sustainability is balancing the three concepts of people, planet, and profit to maximize the absolute value of an undertaking. Using this concept, sustainability has been embraced at the corporate level in many corporations. However, this definition does
specialist for the hand hygiene company is responsible for developing an appropriate strategy for sustainability and life cycle assessment of his company. On one hand, the company has faced with several challenges like "they are considered as a strong leader in north American markets but they have limited presence in the other arias", "for becoming a sustainable organization by embedding sustainability in everything; depends on how well the company integrated its goals such as saving lives and making
Question 1 a. Matching principle requires that expenses suffered by a business must be charged to the income statement in the accounting period with the income to which it relates. In the case of Coca Cola company, they treated shipping and handling costs in moving finished products from the manufacturer to the sales distribution centers as Cost of Goods Sold but the same cost of transportation to customer are considered as selling, general and administrative expenses in the income statement (Coca-Cola
sanitation in urban, rural and recreational areas. It involves waste water management, air pollution control, recycling, waste disposal, radiation protection, industrial hygiene, environmental sustainability, public health and environmental engineering law. It also includes studies on the environmental impact of proposed construction projects. Environmental engineers study the effect of technological advances on the environment. Advanced countries consume large amounts of resources and energy, and
Our presentation was on the case study of the NKF financial scandal, which took place in 2005. It all began when journalist, Susan Long, from The Straits Times published an article on the lack of transparency and accountability in NKF’s usage of the donated funds This led to the former CEO of NKF, T. T. Durai, suing Singapore Press Holdings (SPH) for defamation. The trial disclosed how Durai misused the donated funds and the financial mismanagement at NKF, greatly affecting NKF’s reputation. After
listed below: Pick n Pay keep their focus on customers, community and changing people’s lives as important as their business operation and based on the values and missions listed above, Pick n Pay created the following projects to support sustainability and uplift the community: The Pick n Pay School Club – It supports more than 2500 schools and provides education to more than 1.5 million students. Green range – Pick n Pay’s Green range packaging is made from sustainable and natural materials
This accounting framework is called “the Triple Bottom Line (TBL)”. To further clarify, TBL is a measurement that analyses sustainability of the companies by concentrating on profit, people, and planet. Measuring a business financial could look at their expenditure, taxes, and income. In terms of planet, natural resources
water conservation, Librarians need to undertake active part in the sustainability of the environment by carrying green audit in their libraries. Green audit helps the librarian to get an idea about the energy consumption in the library. Green audit is connected to sustainable development process. It is an effective way to solve the environmental problems. Green Audit Green Audit is the process of assessing the environmental impact of an organization, process, project, product, etc. Green means eco-friendly
With this regard, Mcfee and Brynjolfsson (2012) conducted a study in conjunction with McKinsey’s business technology to establish the impact of data analytics on the accounting profession. The study revealed that not all accounting managers embraced data-driven decision-making processes. However, Mcfee and Brynjolfsson (2012)’s study showed that accountantswho used data analytics had an overall better performance on operational results