Benefits Of The Australian Public Forest Sector

This report examines the new world of sustainability reporting, and the complex web of stakeholders. It focuses particularly on the demands for new kinds of transparency which serve the interests of the environment and society.

“Access to good financial information is essential to success in the policy and financial management arenas” (Bartle, Hildreth, Marlowe. P. 222). Proper accounting is the cornerstone to working towards a balanced budget. The CAFR (comprehensive annual financial report)

The Case Study analysis will be based on the company Meridian Energy Limited(MEL). Meridian is leading manufacturer of renewable electricity and its customers are from all over Australia and New Zealand. The company is largest electricity generator and is the major contributor to the government’s target of renewable energy generation (Meridian, 2016). The objective of the case study is to critically analyse the application conceptual framework of accounting and also the accounting standards that relate to them. The case studies focus will be on the Statement of changes in Equity. Also the focus will be on the extent of application judgement and estimates that have been made by MEL and the issues which may arise because of these estimates.

Managerial accounting is essential for decision making. Making the best choice depends on the manager's goals, the anticipated results from each alternative, and the information available when the decision is made (Schneider, 2012). The different techniques associated with managerial accounting are very helpful in the decisions that need to be made. In order to truly understand decision making with managerial accounting one must first discern exactly what managerial accounting means and some of the techniques associated with it. The definition of managerial accounting will be discussed along with the techniques of cost management techniques, budgeting, and quality control.

This paper provides a brief presentation of Activity-Based Costing methodology, how is used as well as its short comings.

Part of ABC’s Finance Director’s justification for manipulating the financial results is that: “a win-win situation for everyone”. This section will explore the impact of ABC’s creative accounting practice to the interest of different stakeholder groups. It will also identify the winners and losers if the finance director’s proposals are carried out.

Deforestation in Australia What is the issue? Australia is among one of the wealthiest nations. It has a small population of almost 24million but has a high rate of extensive deforestation and degradation since the later 18th century during European settlement. Most of Australia, around 7.6million

According to Investopedia, “Full costing is an accounting method used to determine the complete end-to-end cost of producing products or services.” Full costing is also called "full costs" or "absorption costing."

The most important thing to any company’s stakeholders is high-quality reporting of its financial statements. Investors, for instance, need to know the truth about a company in order to make an informed decision on whether to make private investment, buy stock or bonds. However, for stakeholders to get the truth about a company, they need to read and understand management’s discussion and analysis, the president’s letter, the notes, as well as the financial statements. Conversely, financial statements must be accompanied with disclosures to prevent them from misleading the stakeholders.

The following annotated bibliography includes a list of references that address cost measures, direct and indirect costs and pricing systems. Cost accounting systems are well-developed for tangible goods. Accounting principles are applied to businesses for financial reporting to analyze the profitability of the business. Direct and indirect costs is the basis to setting regulated prices on products.

The three factors/ approaches that best explain the current patterns of forest decline and recovery are population/markets, political economy, and ethics. The population/markets approach introduces the concept of forest transition theory which talks about how the economic growth that destroys forests is also necessary for its restoration and return. The initial expansion in population and economic activity puts pressure on forest resources, resulting in rampant deforestation that clears land for agricultural use. The intensification of agriculture then allows more crops to be grown on less land, in turn freeing up unneeded land for forest recovery. From a political economy standpoint however, a decrease in forest cover is viewed as an expansion

Australian Paper’s positive management strategies currently meet the minimum requirements of the Australian Forestry Standard.

Bhimani, A., Horngren, C., Datar, S., Rajan, M. et al. (2012) Management and Cost Accounting. 5th ed. Edinburgh: Prentice Hall, p.369 - 378.

The Following involves the analysis of the costing techniques followed by the company along with its Budgeting system. It also involves the Investment appraisal analysis for the given data.

Costing systems are part of the overall accounting system used by companies to measure sustainability performance and identify and account for expenditures accurately (Tatum, 2011). Three cost methods used as part of the decision-making process are Activity-based costing (ABC), Life-cycle costing (LCC), and Full cost accounting (FCA). The benefits and limitations of each in relation to sustainability efforts are examined.