Environmental Accounting and S.C. Johnson Wax Term Paper by Nicky

Environmental Accounting and S.C. Johnson Wax
A look at environmental accounting practices at S.C. Johnson Wax.
# 149358 | 2,228 words | 5 sources | APA | 2011 | US
Published on Dec 11, 2011 in Business (Companies) , Environmental Studies (General) , Accounting (General)


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Description:

This paper examines the importance of environmental accounting at S.C. Johnson Wax and how it differs from traditional accounting methods. First, the paper points out unique aspects of environmental accounting, noting that is often more comprehensive in its assessment of cost, including not only monetary and practical costs but real assessments of the costs associated with environmental impact of a product. Additionally, the paper further considers the logistics and environmental cost of materials that go into the making of a product as well as the products' full life cycle, often including what happens to the materials after the product has been used. Then, the paper applies these concepts to S.C. Johnson Wax, particularly as they relate to research and development. The paper also notes that S.C. Johnson Wax has developed an advanced and reliable method for environmental accounting over the years. The paper concludes by stating that the company is highly adaptive and dynamic in the manner it responds to environmental impacts as well as in how it markets its advances and innovations, both likely aiding in its market share and internal impacts.


Outline:

Introduction
Direct and Indirect Environmental Impacts
Similarities and Differences
Internal Environmental Costs
External Environmental Costs
Elements of an Environmental Budget and Risk Assessment
Life Cycle Costing
Summary

From the Paper:

"There are several differences between traditional accounting and environmental accounting not the least of which is that environmental accounting is often more comprehensive in its assessment of cost, including not only monetary and practical costs but real assessments of the costs associated with environmental impact associated with the production of a product. Environmental accounting takes into consideration, in most cases the logistics and environmental cost of materials that go into the making of a product as well as the products' full life cycle, often including what happens to the materials after the product has been used. This can include the product itself as well as the packaging of it. In the case of the SC Johnson Wax company the environmental costs associated with research and development, meeting all environmental labeling and production laws as well as the man hours used to provide environmental compliance were both significant percentages of the overall accountancy which were not allocated for in the traditional accounting plan."

Sample of Sources Used:

  • Anderson, R. C. (2000). The Next Industrial Revolution. Forum for Applied Research and Public Policy, 15(4), 23.
  • Barrow, C. J. (2005). Environmental Management and Development. London: Routledge.
  • Ditz, D. Ranganathan, J. & Banks, R.D. (1995) Green Ledgers: Case Studies in Corporate Environmental Accounting World Resource Institute. Retrieved July 15, 2009 http://pdf.wri.org/greenledgers_bw.pdf
  • Lober, D. J. (1996). Evaluating the Environmental Performance of Corporations. Journal of Managerial Issues, 8(2), 184.
  • Sisaye, S. (2004). 4 Organizational Adaptation Change: Approaches on the Development and Effectiveness of Environmental Management Accounting and Reporting Systems. In Environmental Disclosure Practices and Financial Performance, E.Karim, K. & W.Rutledge, R. (Eds.) (pp. 75-101). Westport, CT: Praeger.

Cite this Term Paper:

APA Format

Environmental Accounting and S.C. Johnson Wax (2011, December 11) Retrieved January 16, 2021, from https://www.academon.com/term-paper/environmental-accounting-and-c-johnson-wax-149358/

MLA Format

"Environmental Accounting and S.C. Johnson Wax" 11 December 2011. Web. 16 January. 2021. <https://www.academon.com/term-paper/environmental-accounting-and-c-johnson-wax-149358/>

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