Question:
Critically discuss the role of a Management Accountant in a company that is implementing Environmental Management Accounting for the first time. You must include into your discussion an evaluation of the issues businesses face in the management of environmental costs; and a discussion of the potential motives of a company wishing to implement Environmental Management Accounting.
Select a UK-based company from the FTSE 250, critically evaluate how the company addresses the disclosure of environmental information and management of environmental costs (e.g. waste, energy, water, emissions, etc). You can use any publicly available reports for the company of your choice such as annual report, sustainability report, corporate website, etc. Your findings should be presented in the form of an A3 poster (submitted electronically via TurnitIn link).
Answer:
It is one of the largest companies in mining that is listed on the London stock exchange and indulges in minning related work. The company has to corn* with a lot of provisions that are related to environmental maintenance, as mining related work leads out a lot of dirt and waste. Thus the need is that necessary steps to be taken that will help in reducing the level of emission and red ucesthe crver all cost of the company. The annual report of the company can be found on the following URI-
The company has specific resources n place that manages its overal environement related coma ratites that inctude-
• Heath Safety and Environment Canhte that manages the enviramental rat related issues and monitors the overal activity of the comply in that regard.
• The company has a management amounting team that looks after the octal finnacials of the company with wad to the envirormental cost and reduction of the same.
• The company also has a (SR team ttet v.orks for the social causes and maces sure that the activities of the company are in syncwith the same.Proper Nat of thesystem is also done to judge the effeaiveness of the sane on a regular basisiGartland, 2017).
Thus it can be seen that the organisation needs to deal with the environment related issues and maintain proper levels to meet the safety standards. There is fued percentageof inarnethat the company needs tospend in case of environmental related issues and appoint experts that ca n handle the same d Dee ntfy. All the envi rorrnenta I costs are related on the CSR section and proper disclosure of the same is given in the annual reportof the company. The same is verified by the board of directors of the company fGrundy, 42 lie& Bero,20171.
References
Gartland, D. (2017). The importance of audit planning. Journal Of Accountancy. Grundy, a, Held, F., & Bero, L (2017). A Social Network Analysis of the Financial links Backing Health and Fitness Apps Arrericon kumol of Pult
lasplus. (2017).
tnviviosplystom. Retrieved decenter 07, 2017, from httpsi/www.iasplus.comien-ca/projects/assurance/researc h-rojectsii aasb-revisions-to-isa-315-identifying-an d-assessng-the-risls-of-materia 1-misstatement-thro ugh-undo. standing-the-entity-anks-environment-research.
