contemporary issues in accounting, homework help

Task 1 ( 400 words)

Environment accounting

Mazda is carefully assessing the costs and benefits of its environmental activities and is working constantly to improve their efficiency.Under the Mazda Global Environmental Charter, Mazda carries out a wide variety of environmental protection activities related to products and technologies; manufacturing, logistics, and office operations; and social contributions. The Company appropriately discloses information on each of these activities, and ensures opportunities for dialogue with the stakeholders concerned, thereby striving to respond promptly and appropriately to social problems.

Required

1- identify the costs and benefits of Environmental Accounting for Mazda Motors and;

2- Introduce any two method of Environmental cost accounting suitable for Mazda Motor’s operation.

Answer Guidance

Bennett and James (Six Benefits)

• Integrating the environment into capital expenditure.
• Understanding and managing environmental costs
• Introducing waste minimisation schemes
• Understanding and managing life cycle costs
• Measuring environmental performance

• Involving management accountants in a strategic approach to environment-related management accounting and performance evaluation.

Cost of Environment Accounting :

• Conventional costs
• Potentially hidden cost
• Contingent costs
• Image and relationship costs

Environmental Accounting methods ( just choose two method )

• Input / Output analysis
• Flow cost accounting
• Environmental activity-based accounting
• Live cycle costing.

Task 2 ( 400 words)

Human resource accounting

Human resource accounting is the process of identifying and reporting investments made in the human resources of an organization that are presently unaccounted for in the conventional accounting practices. It is an extension of standard accounting principles. Measuring the value of human resources can assist organizations in accurately documenting their assets.

The human resource accounting process was established to fulfill a number of objectives within the organisation. These include:

1. To furnish cost value information for making proper and effective management decisions about acquiring, allocating, developing, and maintaining human resources in order to achieve cost effective organizational objectives.
2. To monitor effectively the use of human resources by the management.
3. To have an analysis of the Human Asset, i.e. whether such assets are conserved, depleted, or appreciated.
4. To aid in the development of management principles and proper decision making for the future, by classifying financial consequences of various practices.

There are two approaches to HRA. Under the cost approach, also called the “human resource cost accounting method” or model, there is an acquisition cost model and a replacement cost model.
Under the value approach, there is a present value of future earnings method, a discounted future wage model, and a competitive bidding model under.

Required

Select a company at your choice, and introduce the benefits of human resource accounting (HRA) and explain one method of HRA under cost based model and one method of HRA under the Economic value base model applicable for your company.

useful link : www.charteredclub.com/what-is-human-resource-accou…

Answer Guidance

Benefits of HRA

• HRA helps the company ascertain how much Investment it has made on its Employees and how much return it can expect from this Investment
• The Ratio of Human Capital To Non-Human Capital computed as per the HRA concept indicates the degree of Labour Intensity of an Organisation.
• HRA provides a basis for planning of physical assets vis-à-vis Human Resources.
• HRA provides valuable information to Investors interested in making Long-Term Investments in Service Sector companies.

Cost Based Models ( just choose one method )

1. Capitalisation of Historical Costs Model
2. Replacement Costs Model
3. Opportunity cost Model

Economic Value Based Models ( just choose one method )

1. Present Value of Future Earnings Model / Lev and Schwartz Model
2. Reward Valuation Model / Flamholtz Model
3. Valuation on Group Basis

Task 3 ( 400 words)

Social Responsibility Accounting

Over the years, the concept of Social Responsibility Accounting (SRA) is gaining recognition and sophistication. While providing management with key performance indicators in social, environmental and economic dimensions, accountants are deemed to provide integrated reporting that is reflective of the organization’s strategy and values, as well. Social Responsibility Accounting is used as a tool to evaluate the company’s performance through economic units in view of Corporate Social Responsibility (CSR).

a study identifies the opportunities and challenges through the different approaches of Social Responsibility Accounting. The findings throw light on the fact that the best practice for Social Responsibility Accounting depends on the unique organizational strategies and values. The study illustrates the challenges with which Social Responsibility Accounting needs to be extended. The study also suggests that for each organization different diagnostic and interactive approaches are used through Social Responsibility Accounting as every firm perceives a different sense of responsibility towards the society.

Required

1- Demonstrate benefits of social responsibility accounting (SRA) available for a company at your choice and;

2- Explain any two approaches for SRA applicable to your company

Answer Guidance

Benefits of SRA

• A firm fulfils its social obligations and informs its members, the government and the general public to enables everybody to form correct opinion.
• It counters the adverse publicity or criticism levelled by hostile media and voluntary social organisations.
• It assists management in formulating appropriate policies and programmes.
• Through social accounting the firm proves that it is not socially unethical in view of moral cultures and environmental degradation.
• It acts as an evidence of social commitment.
• It improves employee motivation.
• Social accounting is necessary from the view point of public interest groups, social organisations investors and government.
• It improves the image of the firm.
• Through social accounting, the management gets feedback on its policies aimed at the welfare of the society.
• It helps in marketing through greater customer support.

• It improves the confidence of shareholders of the firm.

Approaches of SRA ( just choose two approach )

• The Company Level Measurement Approach (CLM)
• The Stakeholder Theory Approach (ST)
• The Environmental Accounting and Pillars of Sustainability Approach (EAPS)
• The Islamic Financial Institutions Approach (IFI)

*constructions and format of the assignment :-

• introduction ( 150 words )
• tasks answers :

1. Task 1 ( 400 words )
2. Task 2 ( 400 words )
3. task 3 ( 400 words )

• Limitations ( 150 words )
• conclusion ( 100 words )
• references

* support your assignment with relevant graphs, charts, tables( quantitative data) if applicable

* the total of assignment = 1400 words

Important note// please build your answer depending on the answer guidance by expand it with more explanations

 

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