ACCM 4500 Report on Management Accounting Issues in Water Buybacks

This report, prepared for ACCM 4500, analyzes management accounting issues related to the government's water buyback program under the Murray-Darling Basin Agreement. The report highlights a lack of transparency in expenditure, negotiation processes, and valuation methods, as well as the absence of open tendering processes. It emphasizes the need for environmental management accounting to assess costs related to water, energy, and other environmental components. The report recommends implementing online tendering, activity-based costing to allocate costs efficiently, and quality controls such as environmental cost reports. It concludes that management accounting techniques can facilitate better stakeholder interests, proper allocation of resources, and sound internal control systems to improve external reporting. The report references relevant articles to support its findings and recommendations.