ACC Final Exam Ch. 15 Questions With Complete Solutions
A CSR report is also known as a.. Correct Answers
sustainability report
Accounting for Sustainability Correct Answers - Add human
resource and environmental-related information to job cost
sheets
- use multiple MOH accounts that separate use of environmental
resources, chemicals, waste
- use standard costs for uncovering inefficiencies and waste
- use budgets to communicate sustainability goals in the short
and long term
- measure the costs and benefits of sustainable initiatives such
as:
1. sell carbon credits
2. design and patent "greener" production processes
Achieving economic savings by producing goods and services
with fewer ecological resources is an example of... Correct
Answers eco-efficiency
All of the following represent monetary information in an
Environmental Management Accounting (EMA) system except:
Correct Answers Gallons of waste-water produced
An oil company received poor publicity after an oil spill in Lake
Erie. The costs of the future lost sales resulting from the bad
publicity are not included in the results of operations provided to
management even though the loss in sales was substantial. This
scenario is an example of which type of Environmental
, Management Accounting (EMA) implementation challenge?
Correct Answers Incorrect Hidden cost.
CORRECT: Historical orientation of accounting.
Incorrect Newness of EMA.
Incorrect Communication issue.
Attract Capital Correct Answers Approach investors interested
in the "triple bottom line"
Attract labor talent Correct Answers pay more than "fair wage"
and get better employees
Bert's Bees, a manufacturer of products such as lip balm, has
developed a new soap label called TerraSkin Superscript left
parenthesis TM right parenthesisTerraSkin(TM) Wraps that is
"treeless" and "bleach-free" (it is a paper-label alternative). The
cost of researching the proper process and combinations of
components for this new label would fall into which function in
the value chain? Correct Answers R & D
Challenges to implementing EMA systems: Correct Answers -
communication issues: many people involved
- Hidden costs: environmental costs get buried in MOH
- Aggregated accounting info and archaic info systems: update
your AIS
- Historical orientation of accounting: Develop forward thinking
definitions of cost
- Undeveloped field: "Green accounting" has been around for
awhile. Consider data analytics
A CSR report is also known as a.. Correct Answers
sustainability report
Accounting for Sustainability Correct Answers - Add human
resource and environmental-related information to job cost
sheets
- use multiple MOH accounts that separate use of environmental
resources, chemicals, waste
- use standard costs for uncovering inefficiencies and waste
- use budgets to communicate sustainability goals in the short
and long term
- measure the costs and benefits of sustainable initiatives such
as:
1. sell carbon credits
2. design and patent "greener" production processes
Achieving economic savings by producing goods and services
with fewer ecological resources is an example of... Correct
Answers eco-efficiency
All of the following represent monetary information in an
Environmental Management Accounting (EMA) system except:
Correct Answers Gallons of waste-water produced
An oil company received poor publicity after an oil spill in Lake
Erie. The costs of the future lost sales resulting from the bad
publicity are not included in the results of operations provided to
management even though the loss in sales was substantial. This
scenario is an example of which type of Environmental
, Management Accounting (EMA) implementation challenge?
Correct Answers Incorrect Hidden cost.
CORRECT: Historical orientation of accounting.
Incorrect Newness of EMA.
Incorrect Communication issue.
Attract Capital Correct Answers Approach investors interested
in the "triple bottom line"
Attract labor talent Correct Answers pay more than "fair wage"
and get better employees
Bert's Bees, a manufacturer of products such as lip balm, has
developed a new soap label called TerraSkin Superscript left
parenthesis TM right parenthesisTerraSkin(TM) Wraps that is
"treeless" and "bleach-free" (it is a paper-label alternative). The
cost of researching the proper process and combinations of
components for this new label would fall into which function in
the value chain? Correct Answers R & D
Challenges to implementing EMA systems: Correct Answers -
communication issues: many people involved
- Hidden costs: environmental costs get buried in MOH
- Aggregated accounting info and archaic info systems: update
your AIS
- Historical orientation of accounting: Develop forward thinking
definitions of cost
- Undeveloped field: "Green accounting" has been around for
awhile. Consider data analytics
