Financial Performance Management: Examining Environmental Costs and Management Accountant Tools

Financial performance
management

Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................1
PART1.............................................................................................................................................1
1. Detailed examination of the various problems that are faced by different firms in managing
their environmental costs and also identifying different methods that are used for its
accounting....................................................................................................................................1
PART2.............................................................................................................................................3
1. Detailed analysis and evaluation of management accountants tools and techniques that are
used by them so as to provide information that is correct so that the firm can perform well in
long run and also its key performance indicators implementation..............................................3
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Management of financial performance of a firm is one of the most important aspect as it helps in
managing the most crucial thing that is the fund that the business possess and thus it is related
with its effective and efficient management which further helps the company to grow and
prosper in the long run (Ali, Danish and Asrar‐ul‐Haq, 2020). In this report there is a detailed
discussion, analysis, and evaluation of the aspects that are related with environment management
accounting and its related costs, benefits, etc. apart from this the report also covers identification
and proper recoding of the environment costs, its impact and the ways through which it can be
controlled. Further budgetary control, decision making process, its relevance, key performance
indicators of a firm, and the factors of financial stability is also discussed in detail in this report.
PART1
1. Detailed examination of the various problems that are faced by different firms in managing
their environmental costs and also identifying different methods that are used for its
accounting
Managing the environment and that too in an effective as well as efficient manner is one
the most critical aspect in the current scenario as mostly all the firms that are operating in the
market is concerned about this thing only irrespective of the industry in which they are operating.
As it is a beneficial thing for the firm too because government of each and every country gives
some amount of concession and subsidies to the firm that is working according to the set
policies, laws, guidelines, and procedures regarding this aspect. In addition to this the company
that abides by these laws tends to capture a larger share in the market too as the customers are
more aware in the present as compared to earlier as there is a change of mindset that directly
affects the business growth and profitability. There are a number of ways by which the firm can
comply with all these aspects just it needs to do some research and deep analysis about it.
Costs that are related with environment are nothing but the cost of the present as well as future
degradation and deterioration of the assets that are available in the environment. As these costs
can be huge at times thus all the company’s must ensure that they are positioned well enough in
the market as well as in the industry so that they are capable to bear these costs in an efficient
manner. Sometimes these costs can come in an included format in the total costs and hence in