Management Accounting Essay Example | Topics and Well Written Essays - 1750 words

Management Accounting - Essay Example Well whatever the reason is, it is surely time that we sit down, assess and analyse the system as a whole and try coming out with both, a reason and a solution for all this happening. Arguably the main reason of reaching such a unpleasant situation is that, major stakeholders, whether it’s the big companies or the government, they have mainly focussed on short term achievement and plans rather than analysing, assessing and planning for longer term success. Hence before we consider entering in a developing country for investment purposes I would like to reflect some light on different aspect of sustainability reporting, the differences between sustainability reporting and traditional reporting and the benefits of sustainability reporting. Introduction A sustainability report mainly focuses, in fact constitutes, three elements or dimension, namely, social, economic and environmental. Due to this fact is often known as triple bottom line or 3BL. Some even regards is as a planet, profit, people principle. While discussing this aspect, sustainability reporting is often substituted for environmental social and governance reporting and corporate social responsibility as the whole idea is almost the same. The framework of sustainability is set up by GRI (Global Reporting initiative), a non-profit organisation. Difference between sustainability reporting and traditional reporting Sustainability reports differs from traditional reporting in a few important ways. Sustainability reports stress on the fact of maximising stakeholder value rather than only shareholder value. Stakeholder in this context refers to someone in fact anyone that is affected by the organisations actions whether it be directly or indirectly. Customers, civil societies, employees, financers and the community as a whole are all included in the list of stakeholders. Another crucial difference is that sustainability reports do not require each aspect to be in monetary term. That is some indicators may just be included as a comparison as the previous years to help analyse how the company is performing. In traditional reporting all reported data is produced in monetary terms. Sustainability reports produce comparison data due to the fact that some performance indicators may not be valued accurately in monetary terms, thus, are better off used as a mean of comparison. An example may be that of the pollution waste produce by the organisation. This may be reported as number of tons of wastage produced or even waste per unit of production. Both can be compared with that of other organisations depending on what indicator the other organisation has preferred. The sorts of information that they will need to include in a sustainability report of why they should be included The main reason to produce a sustainability report is to provide a true representation of the sustainable performance of an entity, that is, a reasonable and balanced presentation of the entity performance that incl udes both its positive contributions and negative contributions. Sustainability reporting helps organisations produce sustainable information of an

Berman v. dept of interior - ethics Essay Example | Topics and Well Written Essays - 750 words

Berman v. dept of interior - ethics - Essay Example POGO filed a suit against the oil companies based on this fact, which resulted into the oil companies making a settlement of $440 million to the United States. POGO thereof honored its agreement with Berman and Berman received a check of $383,600, which on the face side of the the check indicated that it is a public service award to Berman for working for the government. It is on this basis the United States government filed a suit against Berman stating that Berman had violated section 209(a) by using his office for private gain since he had accepted the amount from POGO, which is a private entity. This led to his removal from office. Berman appealed the judgment passed, but to no gain. This is because the jury based his ruling on the fact that Berman did not consult any ethics official in the agency for advice before entering into the agreement. His agreement with POGO clearly showed that he intended to use his office for private gain. This showed how reckless Berman was in performing his duties. This case seeks to show how important it is for employees to observe the highest levels of ethical conduct. As evident in this case, despite Bermans 26 years of service in the government and having no record of crime earlier, it was not sufficient to prevent him from losing his job. Therefore, it is important that employees observe appropriate ethical behaviors while at work. This case seeks to show how important it is for the state also to be efficient enough in its duties. It shows that the state was not doing enough to curb fraud in the United States. Such fraud should be exposed at an early stage to avoid wrongful decision-making by the state. POGO argued that oil companies had committed fraud since they had undervalued the oil they got from the federal lands; hence, formulating undervalued reports and making undervalued payments to the state in terms of royalties. POGO considered this act as being totally unethical to have been