Environmental accounting regulation for protection and remediation - An UAE perspective

The purpose of any accounting system is to provide managers across the organization with information that facilitates not only Control of activities and refinement of operational plans but also the accountability. With changing accounting policies both the corporate and financial worlds’ effective and consistent deployment of accounting logic by keeping environmental protection is highly essential for rapidly polluting current environment. In years past, environmental issues were often ignored by both corporations and individuals. Environmental accounting is used to determine measures to promote sustainable environmental management. Implementing measures that strike a balance between cost reduction and environmental impact reduction is crucial to promoting sustainable environmental management. The release of new International Accounting Standards (IAS), the World Bank, United Nations, and International Federation of Accountants (IFAC) environmental guidance documents has added pressure to the IASC to come out with an environmental standard. UNCTAD has been at the forefront of work on environmental accounting. The Group recommended that it concentrate its future efforts on examining available guidance on the main issues in environmental financial accounting and on identifying key environmental performance indicators and their relation to financial performance. Ultimately, this has given a focus to form a framework for environmental accounting which may be used by national standard-setters. Such a framework will comprise a set of recommended "best-practices" which will be drawn from the work of national professional accounting bodies, industry groups and accounting standard setters. The present study is aimed to focus the environmental accounting issues and the legal frame work for environmental protection and remediation in the UAE. The required information for the study has been collected from secondary sources those include the official publications of the government and non government agencies. The study is limited to the law and regulation related to the environmental accounting issues in the UAE and; the summary of the study would reveal the effective environmental protection and remediation frame work for current environmental accounting practices in UAE

Emerging challenges and trends in commerce education in India

Commerce education is business education. Commerce education is that area of education which develops the required knowledge, skills and attitudes for the handling of Trade, Commerce and Industry. Business and Commerce are performing arts requiring inculcation of professional operative skills. However, every art and skill requires scientific knowledge as basic foundation in theory. Acquisition of theoretical knowledge sharpens human faculties of mind and intellect. Thus, a system of business and commerce education should equip the student with the knowledge of theory which he should apply in performing and practicing art, and getting knowledge from experience. We stress on training in applied business-science is a part of social responsibility of business. Business and Commerce education should be oriented to the practical problematic micro and macro situation. This orientation would enable a commerce graduate or a business graduate to meet several challenging situations in managerial decision-making. Commerce and business graduates must imbibe the fundamentals of language, logic, simple mathematics and business communication skills which create the power to think logically and present the problem in a lucid language. It is necessary to adopt an integrated approach which assumes that management of business and commerce should not be increasingly divided. Commerce education should be on total personality against the Government policies creating uncertainty and difficulties created by bureaucracy. Education in business and commerce should create a personality which is not only adaptable but of a high moral character. While keeping in line with the developments in technology and computerization, basic social and Indian values, Indian culture and tradition and typical problematic situations which are Indian should never be lost sight of, while imparting business and commerce education in India. The growing phenomenon of globalization, liberalization and privatization has been immensely influencing the Commerce Education. Alvin Toffler in his famous book "Future Shock" says that, “To help avert future shock, we must create a super industrial educational system and to do this, we must search for our objectives, methods in the future rather than past. Education must shift into future tense.” The Higher Education sector in India is very vast. \u

Executive Summary

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