Material Flow Accounting Essay Example | Topics and Well Written Essays - 2250 words

Material Flow Accounting - Essay ExampleThese methods have proved popular at national levels following the new envisage Green Trend which now seems to have taken over in time the fiscal and monetary policy of the public and private sector and has often even been termed a form for integrated environmental and economic accounting. Browne (2005).The EIA and the EMS have proved to be very popular tools of the Environmental Impact Assessment strategies and the flair has so far not been restricted to the USA but many other jurisdictions are now changing their laws (particularly the EU) in order to be bust able to reduce the stress on natural sources and the environmental impacts and increase the operating efficiency of certain firms which may otherwise be an environmental hazard. (Durrenberger, G., Hartmann, C.2002).The EIS is fast-flying becoming a tool for An Environmental Impact Assessment (EIA) and such a contestation through the use of accounting techniques like the MFA and LC A(discussed down down the stairs will be used to give an assessment of the positive and/or negative environmental influences that a project may have on the environment. The statement will then identify and foresee the social and biological impacts ion the environment as a part of good practice and sometimes legal extremity in many countries today to decide whether the project being undertaken is worth the damage it will have on the environment. ... (Fehily, Timoney & Co. 1999).To facilitate such as compendium two techniques have developed in the yester decades to provide a more technical prediction of the environmental cost and benefit analysis. (Fehily, Timoney & Co. 1999)Firstly there is the Material bunk analysis (MFA) which will amalgamate the material lams with in a development transaction and will also calculate indicators and develop strategies and measures for improving material flow systems.Thus academic opinion has endorsed it a credible method of assuring the sustain ability of industrial ecology along with the techniques of LCA ( life cycle assessment).The MFA will be used piece making decisions in the EMS and EIS by capturing the mass balances in an economy or an upcoming development transaction , where inputs (extractions + imports) equal outputs (consumptions + exports+ accumulation + wastes), and will utilize the laws of Thermodynamics. (Fehily, Timoney & Co. 1999).This method facilitates the decision making process in the Impact Assessment by recognizing that the total amount of matter and energy involved at each and each stage of the economic cycle is required for all economic activities. The pith and substance of the analysis thus becomes the query whether flow of materials is sustainable in name of the environmental burden it creates. (Fehily, Timoney & Co. 1999). In an EIS statement the MFA will be used to minimize the flow of materials while maximizing the human welfare generated by the flow. This is because the MFA system is invol ved in the monitoring of wastes that are typically unaccounted for in traditional economic analyses. (Kahn, H., Brown, W., Martel, L. 1976).Similarly then we have the system for the life