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Environment Accounting and Management : Case Study

   

Added on  2020-02-24

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Running head: ENVIRONMENTAL ACCOUNTING AND MANAGEMENT ACCOUNTINGEnvironmental Accounting and Management AccountingName of the Student:Name of the University:Author Note:
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2ENVIRONMENTAL ACCOUNTING AND MANAGEMENT ACCOUNTINGExecutive Summary The main aim of the assignment is to highlight the concept of environment accounting andmanagement in accordance to the case study firm named as Premier Investments Limited. Thecurrent study elucidates positive and negative social and environmental impact that links with thecase study firm. In addition, the study provides information about the GRI disclosures andexplains whether the case study firm properly follows and works in accordance to the guidelinesas mentioned in the report. Premier Investments decide to open a new store of Smiggle and PeterAlexander in new places at UK, Asia and North America. In order to predict the growth plan andfeasibility, balanced scorecard approach is used for understanding the overall perspective fromthe point of view of customers, financials, internal process and learning and growth. To that,break-even analysis is even calculated to evaluate whether online services will be feasible idea ornot where customers will be able to look at wide range of options as well as customize theirproducts with their names as well. Therefore, the study had been broken into three parts whereeach part explains one broad concept of Premier Investments operations and its plan forupcoming financial year.
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3ENVIRONMENTAL ACCOUNTING AND MANAGEMENT ACCOUNTINGTable of ContentsIntroduction......................................................................................................................................3Part A...............................................................................................................................................4Overview of the environmental and social impacts (positive and negative) of PremierInvestments operations....................................................................................................................4Positive environmental impact of Premier Investments..............................................................4Negative environmental impact of Premier Investments.............................................................5Positive social impact of Premier Investments............................................................................5Negative social impact of Premier Investments..........................................................................6Identifying and discussing four key GRI disclosures that are likely to be most relevance to thestakeholders of Premier Investments...............................................................................................6Comparing quality and depth of environmental performance information provided by PremierInvestments with the practices of Myer...........................................................................................8Evaluating whether widespread compliance with the GRI guidelines by Australian retail businessthat benefit potential investors, current shareholders and other stakeholders of PremierInvestments......................................................................................................................................8Part B.............................................................................................................................................10Identifying likely major costs associated with ongoing operations of Smiggle and PeterAlexander.......................................................................................................................................10Estimating the cost behavior (fixed, variable or otherwise) of each of the major costs identified10
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4ENVIRONMENTAL ACCOUNTING AND MANAGEMENT ACCOUNTINGCritically evaluate whether use of break-even analysis would be useful and reliable screeningtool for Premier Investments Limited as they assess the desirability of opening up new stores innew territories................................................................................................................................11Balanced Scorecard of Premier Investments Limited...................................................................12Part C.............................................................................................................................................14Break-even.....................................................................................................................................14Achieve an after-tax profit of $350000.........................................................................................16Suggesting a number of possible initiatives that Premier Investments could implement in relationto the Custom Finish Lab concept for enhancing the break-even point of annual profit..............17Conclusion.....................................................................................................................................18Reference List................................................................................................................................20
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5ENVIRONMENTAL ACCOUNTING AND MANAGEMENT ACCOUNTINGIntroduction This study deals with analyzing the concept of environmental accounting andmanagement accounting in relation to Premier Investments Limited (Mitchell, 2016). PremierInvestments Limited is one of the Australian public companies that is limited by shares and listedin Australian Stock Exchange in the year 1987. Premier Investments Limited was established asan investment vehicle for maximizing growth in capital returns to shareholders throughacquisition of control over strategic shareholdings in premier Australian companies by focusingon retailing, distributing and importing at the same time. Premier Investments Limited hasseveral brands such as The Just Group, Just Jeans, Peter Alexander, Jay Jays, Dotti and Smiggle.The current assignment provides an opportunity to apply developing accounting as well asfinancial management skills to the case firm known as Premier Investments Limited. PremierInvestments Limited operates in a range of retail fashion chains throughout Australia, Singapore,UK, Malaysia, New Zealand, Singapore and Hong Kong. The current segment explains anoverview of the environmental and social impact of Premier Investments Limited operations. Iteven identifies as well as discusses 4 GRI disclosures that are likely to be most relevance fromthe perspective of stakeholders of Premier Investments Limited and evaluate whether theseinformation are valid or not. It is important to compare the quality and depth of environmentalperformance information as provided by Premier Investments Limited with the practices of MyerHoldings Limited. The next segment explains growth strategy where Premier InvestmentsLimited plans to open further Smiggle and Peter Alexander stores throughout Asia, UK andNorth America. To that, balanced scorecard approach had been used as it clearly defines thefeasibility of new stores of Smiggle and Peter Alexander from the perspective of financial,customer, internal process and learning & growth (Mitchell, 2016).
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6ENVIRONMENTAL ACCOUNTING AND MANAGEMENT ACCOUNTINGPart A Overview of the environmental and social impacts (positive and negative) of PremierInvestments operations Positive environmental impact of Premier Investments Packaging Stewardship- One of the positive environment impact of PremierInvestments is packaging stewardship (Low, 2017). To that, Premier Investments iscommitted towards managing as well as reducing the impact of business operations thathave on environment. Furthermore, Premier Investments has submitted a 5 year ActionPlan that outlines objectives in relation to optimizing packaging for reducingenvironmental impacts, increasing the collection as well as packaging recycling andcommitment towards product stewardship and implementing sustainable packagingguidelines. Waste and Recycling- One of the positive environmental impacts of PremierInvestments is waste and recycling. Premier Investments have extensive recycling as wellas sustainable practices in and across network stores, support center and distributioncenters (Batholomeusz, 2017). Energy efficiency- One of the positive environmental impacts of Premier Investments isenergy efficiency. Premier Investments recognize the importance of energy efficient aswell as low environment that impact lighting systems and adhered to new improvedlighting standards for managing energy consumption in all their stores (Chang, 2015).
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