ACCTING 1002 Lecture Notes - Management Accounting, Resource Consumption, Qantas
25 Jan 2023
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Document Summary
Through accounting systems, you are able to paint a picture, or tell a story, about the impact of organisations on the environment these stories are regarded as extremely valuable by interested stakeholders! Companies have started thinking more deeply about how they might use accounting to identify and measure their environmental costs and broadly conceptualise the sustainability of their pursuits. For example, qantas offers customers an option to pay for their share of carbon emissions from flights! Sustainability- an approach to prolong, reduce or eliminate the need for consumption in the pursuit of an individual or organisational objective. Sustainability practices- activities conducted to prolong the use of resources or to reduce or eliminate resource consumption. Sustainability practices are any pursuit that prolongs the use of, reduces or eliminates resources being consumed in performing transactions to achieve an individual or organisational objective. Sustainability practices have the twin effect of lowering consumption for environmental preservation reasons, but also impacting cost structures in organisations.
