Student-Environment-3perpage

Student-Environment-3perpage - Week 10 Managing Social...

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1 Week 10 Managing Social & Environmental Social & Environmental Stakeholders 1 External environment Internal environment Strategy analysis & formulation Performance Measurement Are we creating Shareholder Value? Environment/Society Seminar 9 EVA BSC You are here! Customers Seminar 6 Suppliers Seminar 7 Employees/IC Seminar 8 Strategic Risk Management & Control Seminars 10 & 11 2 TCO CPA CRM ABC ABC HCM Learning Objectives By the end of this seminar you should… 1. Understand and be able to explain the concept of corporate social responsibility (CSR) ; 2. Understand and be able to explain the role of accounting in providing environmental information, specifically: – the environmental quality cost model to classify, measure and analyse environmental costs; – the life cycle model to assign environmental costs to products/services; and – the Balanced Scorecard to manage the environment. 3. Understand and be able to prepare reports outlining environmental and social performance. 3
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2 Required Readings • Management Accounting 2 Textbook: Extract 7: Environmental Cost Management Extract 8: Corporate Citizenship: Social Responsibility, Responsiveness, and Performance 4 • Reading 9.1 by KPMG (2002) in your supplementary materials, Recommended Reading (not examinable) “Environmental Management Accounting – A Case Study for AMP” 5 1. The Concept of CSR 6
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3 Little concern for the consumer Has no concept of acceptable ethical behavior Allegations Frequently Made Against Businesses Cares nothing about the deteriorating social order Indifferent to the problems of minorities and the environment 7 8 Carroll’s Definition of CSR Economic (be profitable) Legal (obey the law) Required Required Ethical (do what is right, fair and just) Philanthropic (be a good corporate citizen) Expected/desired Expected 9
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4 Responsibility Responsiveness Beyond Responsibility… Performance 10 Social performance Financial performance 1 st view Reputation Social performance Financial performance Social & Financial Performances 2 nd view 3 rd view (interactive view) Financial performance Social performance Reputation Financial performance Social performance Reputation 11 Seminar Question 1 Adapted extracts from Australian Financial Review article entitled, “Corporate Responsibility is to Make Profits” Corporate Responsibility is to Make Profits by John Roskam 12
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5 2. Role of Accounting in Providing Environmental Information 13 Environmental performance Environmental cost Environmental benefits Financial position Compliance 14 Environmental performance Environmental cost Measuring Assigning Environmental benefits Financial position Compliance 15
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6 % of sales Costs ($) [$1m] Prevention costs Establish quality circle 25,000 2.5% Subtotal prevention costs 25,000 2.5% Appraisal costs Quality audit 75,000 7.5%
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Student-Environment-3perpage - Week 10 Managing Social...

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