Contemporary Issues in Accounting Essay Example | Topics and Well Written Essays - 750 words

Contemporary Issues in Accounting - Essay Example Around the world, governments (typically following the lead of practice) have begun to take notice, putting new disclosure regulations on the book. Despite these new regulations, significant questions remain about whether, and, possibly more importantly, how corporate disclosures about their social, environmental, and economic practices should evolve." (Corporate Disclosure of Social and Environmental Data Mandatory Vs Voluntary. 2004). If a particular organization is operating with an appropriate emphasis on its environmental issues, it means that it is focused on sustainability as well as the well being of the particular society in which the organization exists. Nowadays, the accounting system requires the disclosure of environmental facts in respect of financial accounting reports. The main purpose of preparing the financial accounting report is that to provide useful information about the business to its ultimate users. Such categories of users shall be owners, shareholders, investors, employees, suppliers, creditors and the public as a whole. Moreover, the report so made should be more relevant, it should possess the quality of materiality, accuracy and comparability. Environmental performance and economics measurements relate to a certain extent, as far as the accounting policies and reporting procedures are taken in to consideration. "Environmentally driven innovation can create shareholder value by lowering cost, improving production processes and service delivery, and helping to find new markets. Increased process efficiency is an example of a proven sustainability strategy for decreasing cost and adding revenue, there by improving profitability." (Slater and Gilbert 2004). The users of accounting reports should have a thorough knowledge about the changes that take place within the organization as well as in matter of accounting standard context. The accounting report should disclose the environmental performances, for the purpose of easily identifying and evaluating whether the organization is running as per the requirements of the society. Moreover, this helps to develop the reputation of the organization by comparing various environmental data obtained from the annual accounts of the company. "Investors and users of financial statements need information about the impact of environmental risks and liabilities on the financial position of the company, as well as the company's attitude towards the environment and its environmental performance, to the extent that these factors may have consequences for the financial health and performance of the company. Regulatory authorities have an interest in monitoring the application of environmental regulations by companies and the costs incurred as a result. But companies' voluntary disclosure of environmental data in annual accounts and annual reports is low. Users of annual reports have an interest in ascertaining to what extent environmental protection is an integral part of the company's policies and activities and what costs and benefits are associated." (Accounting: Commission issues Recommendation on environmental issues in companies' annual accounts a

Eugne Delacroix Research Paper Example | Topics and Well Written Essays - 1000 words - 1

Eugne Delacroix - Research Paper Example He travelled far and wide, incorporating the Oriental culture in his work. He passes down an impressive legacy to his descendants especially the artistic school of the Impressionists and Neo-Impressionists. Eugene de la Croix was contemporary with the Romanticism movement spanning from 1790 to 1850, rose as a reactionary wave against the Age of Reason or Enlightenment. Romantics are characterized by nature, sentimentalism, idealism, imagination, religion, utopia, memory, symbolism, and heroism. All of these attributes are evidenced in Eugà ¨ne de la Croix’s works of art. Romanticism is set apart from other epochs because it asserted the importance of individualism; therefore, romantic writers had the liberty to conform to the ideals of the movement and to detour in a new direction according to their own individual desires. De la Croix himself was described as individualist because despite the heritage of his predecessors like Michaelangelo, he invented himself by his own paintings. Because of Enlightenment’s neglect, Romanticism reasserts nature, feeling, memory, symbolic representation, imagination, myth, and spirituality. One can find all these details in De la Croix a rt work. In Romanticism, nature is lauded as one of the most supreme objects of observation. Feelings and sentimentalism are core aspects of Romanticism since feelings and emotions are the channels through which man expresses thought and creativity. Romantics though that sensory and sensual perceptions also where vital in validating man as a being and not solely the mind as enlightenment intellectuals taught. Memory and imagination are mental transactions which evoke, project, and create images. In memory, anything can happen details can be altered, exaggerated, idealized, and forgotten. Frequently in the romantics’ works, nostalgia and a tender evoking of the past play prominent roles where the romantic’s retrospective vision is viewed in idyllic and