Environmental accounting: Theoretical review and research prospects

This paper is based on the ecological and harmonious development concept of ecological civilization, and combines economic development, environmental governance and accounting research as the basis for the development of environmental accounting theory. In order to analyze the relevant theories of environmental accounting development at home and abroad, we use the historical measurement research and hierarchical division methods to systematiccally review the theoretical literatures and research progress. It is concluded that:(1) The development of foreign environmental accounting focuses on the formulation of industry norms, the interpretation of regulations and policies, and the organization of the overall structural framework. Relevant environmental costs, environmental accounting, uncertainties and environmental accounting information disclosure throughout the study of Western environmental accounting. The theory is applied to practice and tested in the free market.(2) Domestic related research is mostly based on comprehensive considerations. It started late. Although the overall environmental accounting framework is basically formed and related laws and regulations are gradually improved, there are still some: the environmental accounting subsystem is not clear, and the accounting standards are not unified. Through the combing of domestic and international environmental accounting theories and combining with China's actual national conditions, this paper proposes that in the field of environmental accounting, China needs to further improve relevant legal norms, improve the environmental accounting theory system, clarify the field of environmental accounting research, and determine environmental accounting requirements and methods.

Corporate Risk Strategic Management and Probabilistic Analysis Related to Environmental Liabilities: A Case Study

Environmental stewardship is one of the main indicators of corporate performance and reputation among investors today. However, historical operational practices and accidents have created significant environmental liabilities in the industrial sector, and now require significant investments for appropriate management and resolution. A strategic approach is imperative to assure that company’s financial resources are effectively allocated, and shareholders’ interests are protected. In addition, these liabilities must be appropriately and continuously reported, which require the use of robust forecasting techniques such as Monte Carlo Simulation. The present study results demonstrate that under an optimized strategic approach, liability management costs may be reduced in approximately 50%. In addition, the financial forecast under the selected approach may support appropriate reporting of company’s liabilities.

Enhancing Sustainability in Forestry Using Material Flow Cost Accounting

Forestry is an applied science related to the sustainable management of natural resources. Many scientific disciplines influence forest science including ecology, economics and other social sciences. In this paper, it is proposed to promote the sustainable management of forest resources using a method coming from the Environmental Management Accounting discipline. The method is Material Flow Cost Accounting, which assists managers to recognize material and energy inefficiencies in production processes and create cost savings for the organization. Through a study of the methodology and using forestry examples, it is shown that Material Flow Cost Accounting can be a useful tool for forest managers, either in Public Forest Service, or other forestry organizations.

Extending the production boundary of the System of National Accounts (SNA) to classify and account for ecosystem services

There is a broad acceptance to depicting the relationship between ecosystems and human well-being using the concept of ecosystem services,emanating in large from the findings and research published in the Millennium Ecosystem Assessment in 2005.While the generic concept of ecosystem services provides an excellent platform for discussion,the ongoing lack of clarity surrounding the definition,clas sification and measurement of ecosystem services,is emerging as a barrier to more extensive collaboration across disciplines.This paper applies the principles of national accounting to bring additional rigor and consistency to the discussion on ecosystem services.In this paper we revisit four fundamental aspects of the System of National Accounts(SNA)that underpin the measurement of the economy,namely,the definition of economic units;the definition of production;the recording of transactions and the recording assets.By considering each of these aspects in the context of the United Nations'System of Environmental-Economic Accounting,the paper presents a framework to describe the relationship between ecosystems and human aativity that can then be used to consistently define,classify,measure and account for ecosystem services.

The case for mandatory inclusion of ethics within the zoological sciences curriculum

Traditionally,undergraduate science curricula include little or no“ethics,”either as theory or practice.However,zoologists are currently enjoying considerable media exposure:some of it positive(as in conservation practice),but more often negative(pertaining to issues such as the use of animals for testing of drugs,and genetic engineering).More than ever before,zoologists are being asked to make value judgments,and many of these involve moral assessment;if we accept that zoologists(along with other scientists)are professionals,then we must accept that they are responsible for any decisions they make,and it then follows that they are accountable,which can have serious ramifications in cases of malpractice.Ethics involves the application of morality in a professional setting.In light of this,teaching ethics is mandatory in degree programs such as engineering and medicine.This paper contends that a key output of zoological education is the undergraduate who is cognizant of the ethical framework and constructs within which he/she must function.The paper concludes with comment on the nature and style of delivery of ethics education.