Environmental Accounting and Management Accounting
Added on 2020-04-07
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Running head: ACCOUNTING AND FINANCIAL MANAGEMENTAccounting and Financial ManagementName of the Student:Name of the University:Author Note:
2ACCOUNTING AND FINANCIAL MANAGEMENTExecutive Sumary The present study briefly explains about environmental accounting and management accounting.Entire study had been divided into two equal parts where the first part highlights about positiveand negative impact of social and environmental reporting for the case study company named asPremier Investments Limited. The study even brings out four key GRI disclosures that arebeneficial for the stakeholders while working for the company. Comparison had been donebetween Premier Investments Limited and Myer Holdings Limited in terms of environmentalperformance. The second part explains the condition or feasibility whether Smiggle and PeterAlexander can open new stores in new territories such as north America, Asia and UK. For that,it is important to apply break-even analysis for analyzing the relationship between fixed costsand variable costs. Break-even analysis can take into account only the quantitative or financialmetrics. Balanced scorecard takes into account both financial as well as non-financial metricsand this approach had been broadly explained in the study keeping all the perspectives in mindsuch as financial, customer, internal business process and learning & growth. Table of Content
3ACCOUNTING AND FINANCIAL MANAGEMENTsExecutive Sumary............................................................................................................................2Introduction......................................................................................................................................5Part A...............................................................................................................................................5General idea of the environmental and social impacts (positive and negative) of PremierInvestments Limited operations.......................................................................................................5Positive environmental impact of Premier Investments Limited................................................5Negative environmental impact of Premier Investments Limited...............................................6Positive social impact of Premier Investments Limited..............................................................6Negative social impact of Premier Investments Limited.............................................................7Recognizing and converse four key GRI disclosures that are probable to be most significance tothe stakeholders of Premier Investments Limited...........................................................................7Comparing excellence and deepness of environmental performance information as provided byPremier Investments with the performance of Myer Holdings Limited........................................10Assessing whether prevalent conformity with the GRI guidelines by Australian retail trade thatpromote potential investors, present shareholders and other stakeholders of Premier InvestmentsLimited...........................................................................................................................................13Part B.............................................................................................................................................15Recognizing probable major costs linked with ongoing operations of Smiggle and PeterAlexander.......................................................................................................................................15
4ACCOUNTING AND FINANCIAL MANAGEMENTApproximation of the cost behavior (fixed, variable or otherwise) of each of the main costsidentified........................................................................................................................................15Critically assess whether use of break-even analysis would be practical and dependable screeningtool for Premier Investments Limited as they assess the attractiveness of opening up new storesin new territories............................................................................................................................16Balanced Scorecard of Premier Investments Limited...................................................................17Conclusion.....................................................................................................................................18Reference List................................................................................................................................19
5ACCOUNTING AND FINANCIAL MANAGEMENTIntroduction The current segment explain the concept of environmental accounting as well asmanagement accounting by taking into consideration the case company named as PremierInvestments Limited (Williams, 2014). This company is listed in Australian stock exchange andestablished in the year 1987. The company was formed as an investment vehicle that helps inmaximizing level of growth especially to look after capital returns to shareholders by acquiringcontrol over strategic shareholdings within specific period of time. Premier Investments Limitedoperates in retailing, importing and distribution activities. Under Premier Investments Limited,there are different brand names like Peter Alexander, Just Jeans, Smiggle, Jay Jays as well asDotti and The Just Group (Bebbington, Unerman & O'Dwyer, 2014). Part A General idea of the environmental and social impacts (positive and negative) of PremierInvestments Limited operations Positive environmental impact of Premier Investments LimitedPackaging stewardship has positive impact upon environment where PremierInvestments Limited remains dedicated towards managing and reducing the impact oftrade activities. The company even had submitted a 5 year Action Plan that brieflyhighlights objectives that concern to optimization of packaging for reducing impact ofenvironment and packaging recycling (Uno & Bartelmus, 2013).
6ACCOUNTING AND FINANCIAL MANAGEMENTWaste and recycling has positive impact upon environment where Premier InvestmentsLimited engages in continuing their operations in sustainable way especially in networkstores, distribution centers and support centers at the same time (Bebbington, Unerman& O'Dwyer, 2014). Energy efficiency has positive impact upon environment where Premier InvestmentsLimited identifies the significance of energy efficient and low environment activities thataffect the lighting systems in adherence to innovative and improved lighting standards. Ithelps at the time of managing with consumption of energy in all relevant stores(Suomala, Lyly-Yrjänäinen & Lukka, 2014). Negative environmental impact of Premier Investments Limited It is believed by the company that they will get support from their employees where theycan make strategies to reduce environmental issues and increase in the efficiency of business thatwill drive customer and connect with the employees for getting positive outcome or results.Here, the company decides to reduce environmental issues and act in a responsible and ethicalway. Therefore, the environmental issues can be anything related to waste and energy attributesand packaging (Otley & Emmanuel, 2013). Positive social impact of Premier Investments Limited Smiggle community partnerships have positive impact on the society where PremierInvestments Limited builds upon strong community partnership with the global partners. Premier Investments Limited engages in supporting centre charity programs or events. Premier Investments Limited believes in attracting new talents as well as retention ofexisting employees by providing them with rewards and recognition (monetary and non-
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