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Point 1: The adverse effects of climate change and sea level rise present significant risks to the sustainable development of Small Island Developing States (SIDS). The long term effects threaten the very existence of some small islands. Since ratifying the UN Framework Convention on Climate Change (UNFCCC) in 1993, Fiji has pursued policies that recognize the importance of managing the environment and natural resources, to ensure social and economic prosperity in the present and for the future.
Point 2: While not a major contributor to climate change, Fiji, like other small island countries, is at the frontline of its impacts. Climate change is having a widespread impact, affecting all sectors of the economy from health, infrastructure, water resources, agriculture, forestry and fisheries. The burden of this impact is being shouldered more by the rural populace because of their dependence on vulnerable sectors such as agriculture and tourism, for their livelihood
Question 1: Explain the specific roles of contemporary accountants in both sectors towards sustainability
Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.
Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.
Prepare a master budget for the three-month period.
Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.
Evaluate the Predetermined Overhead Rate
Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.
Complete the schedule to compute the pool rates for the different activities.
Prepare Company financial statements
This individual assignment is based on the TerraCycle Inc.
Discuss the ethical issues
Calculate the GDP in Income Approach and Expenditure Approach
A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.
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