环境会计相关信息披露英文版.docx
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环境会计相关信息披露英文版.docx
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环境会计相关信息披露英文版
Environmentalaccounting.Issues,reportinganddisclosure
Abstract
Withcleanupcostsofhazardouswastesexpectedtorunashighas$500billionto$1trillionoverthenext50years,environmentalreportinganddisclosurebyfirmsintheUnitedStatesduringthe2000'swillbecomemoreprolific.Thismanuscriptseekstoprovideanunderstandingofthemagnitudeofenvironmentalissues,abriefhistoryoftheEPA,discussionofenvironmentalregulatoryactsandenforcement,andreportinganddisclosurerequirementsbytheSECandFASB.
Introduction
Oneofthebiggestconcernsthatfirmswillfaceinthe2000'swillbereportinganddisclosingofenvironmentalissues.Byearly1996,theEnvironmentalProtectionAgency(EPA)hadidentifiedover36,000hazardouswastesitesintheUnitedStates,andtheidentificationofadditionalsitescontinues.TheEPAestimatesthattotalcleanupcostsofallidentifiedhazardouswastesitescouldrunashighas$500billionto$1trillionoverthenext50years(JensenandUnger1991).Interestingly,someofthelargestpubliccorporationsintheUnitedStateshavebeenidentifiedbytheEPAasresponsibleparties.
The1,405mostseriouslycontaminatedpropertieshavebeenplacedontheNationalPrioritiesList(NPL),andarecommonlyreferredtoasSuperfundsites.FromtheseSuperfundsitesalone,theEPAhasidentifiedmorethan15,000PotentiallyResponsibleParties(PRPs)(JensenandUnger1991).(APRPisapersonorentitydesignatedbytheEPAaspotentiallyresponsibleforthecostsincurredincleaningupthesite(s).)TheaveragecosttocleanupaSuperfundsiteisestimatedtobe$35million(Dixon,Drezner,andHammitt1993);moretroublesomesitescouldrunashighas$1billioneach(JensenandUnger1991).Todate,onlyabout498oftheseSuperfundsiteshavebeencleaneduptotally.
Inlightoftimeandresourcecommitmentcoststocleanupthesehazardouswastesites,thepotentialimpactonsomespecificentitiescouldbeenormous.Accordingly,itislogicalthatthepublicwouldwanttoknowabouttheexistenceofanyenvironmentalissuesforwhichareportingentitymightbeheldresponsible.Withthisinmind,theunderlyingpurposeforthismanuscriptistoprovideanunderstandingofthemagnitudeofenvironmentalissuesintheUnitedStates,abriefhistoryoftheEnvironmentalProtectionAgency,environmentalregulatoryactsandmethodsofenforcementbytheEPA,andcurrentdisclosurerequirementsforcorporationsbytheSecuritiesandExchangeCommission(SEC)andtheFinancialAccountingStandardsBoard(FASB).
MagnitudeofEnvironmentalPollution
EnvironmentalpollutionintheUnitedStatesisamajorissue.Inassessingenvironmentalpollution,specificallyhazardouswastes,inthiscountry,theEPAmadethefollowingstatements:
Thereareapproximately240,000,000peopleintheUnitedStates.Trytoimagineatonofhazardouswastepilednexttoeachofthem,withanothertonaddedeachandeveryyear.
Hazardouswasteisproducedinthiscountryattherateof700,000tonsperday.That's250milliontonsperyear--enoughtofilltheSuperdomeinNewOrleans1,500timesover.(EnvironmentalProtectionAgency1987,p.14)
Althoughitistruethattheamountofhazardouswasteislarge,mostofthiswasteisnotdumpeddirectlyintotheenvironment.Givensufficientincentives,mostofthehazardouswasteproducedprobablycouldberecycledasenergysourcesorbechemicallystabilized.
However,inthepast,publiccorporationswerenotasknowledgeableabouttheimpactofthesehazardouswastesonhumansastheyarenow.Additionally,theylackedsufficientincentivesto,andwerenotrequiredto,properlydisposeofhazardousmaterials.Today,thesecompaniesarebeingforcedtoaddresstheirlackofforesightbyacceptanceofresponsibilityand,therefore,liabilityforpastwastes.Thisliabilityultimatelyleadstodisclosurebypubliccorporations.TheEPAistheprincipalfederalagencyresponsibleforidentifyingthecompaniestobeheldresponsibleforthesepastwastes.
HistoryoftheEnvironmentalProtectionAgency
PresidentRichardM.NixoncreatedtheEnvironmentalProtectionAgency(EPA)asanindependentagencyoftheUnitedStatesgovernmentbyanExecutiveOrderentitled"ReorganizationPlan3of1970."WhilemostfederalagencieshavebeencreatedbyCongress,thecreationofanagencybyexecutiveorderwasuniqueandimpliedlackoflegislativesupport.
Designedtoensuretheprotectionofnationalenvironmentalhealth,theEPAhasnotalwaysreceivedmeaningfulsupportfromCongress.Earlybudgetsweremeager,andtheagency'smainheadquartersinWashington,D.C.waslocatedinanoldcondominium。
(onceownedbyVice-PresidentSpiroAgnew,whohadtroublesellingitthroughregularrealestatechannels).
Althoughitreceivedminimalsupportoriginally,sinceitscreationtwodecadesago,theEPAhaswitnessedagradualandsteadygrowthinpublicconcernfortheenvironment.Duringthe1970s,initsfirstdecadeofexistence,theEPAfocuseditsattentionprimarilyontheimplementationofmajorenvironmentallegislationenactedbyCongress.Duringthenextdecade,the1980s,theagencybegantoturnitsattentiontowardtheproblemofenforcingitsmanystatutes.Today,environmentalconcernshaveneverbeenhigherinthecountry'ssocial,economic,andpoliticalagendas(Vincoli1993).Inaddition,therehavebeenseverallawspassedthataredirectlyconcernedwithenvironmentalissues.
EnvironmentalRegulatoryActs
SomeofthemoresignificantenvironmentalfederalregulationsintheUnitedStatesinclude:
CleanAirAct(CAA)-1963(revisedandamendedin1967,1970,1972,1977,and1990);CleanWaterAct(CWA)-1972(amendedin1977and1987);FederalInsecticide,FungicideandRodenticideAct(FIFRA)-1949(amendedin1972and1978);HazardousMaterialTransportationAct(HMTA)-1975;ToxicSubstancesAct(TSCA)-1976;ResourceConservationandRecoveryAct(RCRA)-1976(amendedin1980and1984);ComprehensiveEnvironmentalResponse,CompensationandLiabilityAct(CERCLA)(Superfund)-1980;SuperfundAmendmentsandReauthorizationAct(SARA)-1986(amended1991);HazardousWasteOperationsandEmergencyResponse(HAZWOPER)-1990;PollutionPreventionAct(PPA)-1990.
EachofthesefederalactsgivestheEPAandotherfederalagenciestheabilitytoenforcecleanupofabandonedandexistinghazardouswastesitesandtoimposeliabilityonresponsiblepartiestopayforthecleanup.
Astheenactmentdatesofthesefederalactsindicate,priorto1970environmentalregulationwaslimited.SincethecreationoftheEPA,therehasbeenasubstantialincreaseinenvironmentalawarenessbythepublicthathasleddirectlytoalargenumberofgovernmentalregulations.Eachoftheseenvironmentalactshascontributeddirectlytoourcountry'soverallintenttocontrolhazardouswastes.OneofthemostsignificantactsrelatedtoenvironmentalissuesistheSuperfundAct(CERCLA).
FinancialReportingandDisclosure
ThismanuscriptwillnowreviewdisclosurerequirementsoftheSecuritiesandExchangeCommissionandtheFinancialAccountingStandardsBoard.ThesimilaritiesanddifferencesoftheserequirementsandhowtheyinterfacewithEPArequirementsisemphasized.ThesetopicscontributeTheSECdisclosurerequirementsforenvironmentalliabilitieshaveevolveddifferentlyfromthoseoftheFinancialAccountingStandardsBoard(FASB).TheSECmandatesthatcorporationsfileareportifpollutionexpenditureshaveamaterialeffectontheirearnings.SECregulationS-Krequiresthatcertaintypesofenvironmentalinformationbedisclosed:
Thematerialeffectsthatcompliancewithfederal,state,andlocalenvironmentallawsmayhaveuponcapitalexpenditures,earnings,andcompetitiveposition.Litigationpendingorknowntobecontemplatedbyagovernmentauthoritypursuanttofederal,state,andlocalenvironmentalregulations.Anyotherenvironmentalinformationofwhichaprudentinvestoroughttobeinformed.(WilliamsandPhillips1994,p.31)
Forsustainableprogressofacompany,constructiveinformationdisclosureisrequiredasthesocialresponsibilityofthecompany,particularlyfortheinformationthathasimportantsocialmeaning.Atthesametime,suchanapproachestablishesthesocialevaluationofthecompany.Highexpectationsareimposedonenvironmentalaccountingasoneoftheenvironmentalinformationsystemsinvolvedwithcompaniesandintroductionofthesysteminasmanycompaniesaspossibleandaccumulationofannouncementsarestronglyrequested.
ThisguidelineclarifiesthesignificanceofenvironmentalaccountinginChapter1,indicatesenvironmentalcosts,environmentaleffects,andeconomicaleffectsassociatedwithenvironmentalmeasuresinChapters2and3astheelementsthatformtheenvironmentalaccountingsystem.Theguidelinehasdiscussedtheconceptofmeasuringeachelement.Companiestrytoinstalltheenvironmentalaccountingsystemandusethesystemsforvariouscasesusingtheinformation.
Enterprisesusingtheirdatabases,whicharedevelopedusinganenvironmentalaccountingsystem,canusethemfortheirinternalenvironmentalmanagementoradministrationmanagementandforannouncingtheimplementationstatusofenvironmentalconservationexternallyasapartofinformationdisclosure.Intheinternaluse,sincetheindependenceanduniquenessofthecompanycanbedemonstrated,thisguidelinesimplyindicatesthebasicconceptsdescribedinChapters1to3.
Whendisclosinginformationexternally,companiesmustconsiderintegrityandcommonalitythatenablethesystemtobeasocialsystemfordistributionofcorrectinformationtousers.Whilerecommendingpositiveannouncementofenvironmen
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