Management and Environment Accounting Report 2022

Running head: MANAGEMENT AND ENVIRONMENT ACCOUNTING
MANAGEMENT AND ENVIRONMENT ACCOUNTING
Name of the Student:
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Author Note

MANAGEMENT AND ENVIRONMENT ACCOUNTING1
Table of Contents
Introduction...................................................................................................................2
Part A – Critical analysis of Westpac Group................................................................2
Environment and Social impacts of Westpac Group’s operations............................2
Comparison with other firm.......................................................................................3
Key Challenges in complying with GRI.....................................................................3
Benefits of GRI Reporting Standards complained report.........................................4
Part B – Strategic Initiative of Jerry Pty Limited...........................................................5
Balanced Scorecard..................................................................................................5
Break Even Point Analysis........................................................................................6
Conclusion....................................................................................................................6
References...................................................................................................................8

MANAGEMENT AND ENVIRONMENT ACCOUNTING2
Introduction
This report is prepped to analyse the environment accounting as well as the
management accounting of the firms. The main focus of the report is to analyse all
the related aspect of environment accounting as well as management accounting. In
the current time environment accounting is very necessary for the firm for the future
sustainability. While, the management accounting is required for the firm to be
operative in current competitive business world. Hence, this report mainly have two
parts, the first part of the report is critical analysis in which report analyse the
external report of Westpac Group to understand the impact of the organisation
operations in environment including the Global Reporting Initiative to understand the
various aspect of the environmental aspect reporting of the firm. While, the second
part of the report is mainly focus in the strategic initiative and it is prepared to
analyse the management accounting of Jerry Pty Limited. This analyse the firm’s
management accounting system of the firm by preparing and analysing the balance
scorecard.
Part A – Critical analysis of Westpac Group
Environment and Social impacts of Westpac Group’s operations
Westpac Group is one of the Australia’s oldest banking company as this one
of the oldest banking group of Australia. Not only that, this is also one out of four
major bank of Australia. Westpac is also one among the largest bank of New
Zealand. The main business of this group includes the various banking as well as
asset management services to the consumers, institutional and business groups.
This Group was founded in the year 1817 with having name Bank of New South
Wales and changed its name in 1982 and become Westpac Banking Corporation
(Westpac, 2019). The Group played the important role in the economy of Australia in
last 200 years. In the basis of the current environment policy report of the group, the
followings are the some important environment impacts of the firm’s operations: -
 The operations of firm negatively impact the environment as the firm
consumes high energy and paper. The uses of the energy and paper directly
affect the environment as energy is limited while the use of paper reduces the
numbers of trees.
 Secondly, the firm emission of the green – house gases by the firm during its
operations also directly impact the environment. As we all know that the
green – house gases are very harmful for our environment as well as the
peoples (Westpac, 2019).
 The investment made by the firm in the energy efficient technologies as well
as firm also tries to develop the system to recycle the materials positively
affect the environment, this not only saves the natural resources but also
save the environment from the harmful emissions.
As per the information provided by the firm in their official website, the followings
are social impact of the Westpac Group’s operations: -
 The firm is investing the leader of tomorrow, the firm positively affect the
society by providing the education, training as well as opportunities to the
people which helps them to achieve their aspirations (Westpac, 2019). In
simple words, the firm positively impact the social aspect by providing
employment to the peoples.