Posted: June 5th, 2015

The Intergovernmental Panel on Climate Change (IPCC) reported that average temperatures had already risen by 0.85°C since 1880 (IPCC 2013) and it is extremely likely that humans are the dominant cause of global warming

 

Question 1

The impact of climate change on accounting practice and research

The Intergovernmental Panel on Climate Change (IPCC) reported that average temperatures had already risen by 0.85°C since 1880 (IPCC 2013) and it is extremely likely that humans are the dominant cause of global warming. Global warming will affect the physical and biological environment and have a social impact and adversely affect the quality of life of human beings (Stern 2006).

Required:

Discuss the role of accounting for climate change. You should consider how accounting can help organisations to control carbon emissions. For example, how accounting for carbon emissions can help mangers formulate and implement appropriate climate policy and improve the quality of carbon management system (CMS) so as to enhance energy efficiency, and the emission reduction targets can be more effectively achieved. You should propose new and creative approaches to develop carbon accounting framework, methodology and workable programs.

 

Question 2

“… the complexities arising from the diverse information needs and interests of investors and mangers make it effectively impossible for standard setters to calculate the right accounting standards either. We simply do not know how to calculate the best trade-off between the conflicting uses of information by investors and managers that is required by the public interest theory of regulation. This is why the choice of accounting standards is better regarded as a conflict between constituencies than as a process of calculation. “(Scott 2012, 501)

Discuss in terms of applying the theories of regulation to standard setting.

 

 

 

 

 

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