| Title | Regenerative Management Accounting In The Context Of Circular Economy |
|---|---|
| ID_Doc | 414 |
| Authors | Ambrus, R; Izvercian, M; Artene, A; Ivascu, L |
| Title | Regenerative Management Accounting In The Context Of Circular Economy |
| Year | 2017 |
| Published | |
| Abstract | Sustainability is an approach adopted by more and more companies. The importance of sustainable development is reflected in the company's financial results. The circular economy is a key to sustainable development. The circular economy requires resources to be used for as long as possible, extracting the maximum value and then recovering and regenerating the materials at the end of each lifetime. Regenerative cost accounting framework offers managers the tools and critical thinking skills necessary to succeed in business while taking into account the costs of regeneration right from the beginning of the production processes. The role of regenerative management accounting model is to help companies lower the operational and regeneration costs. How can an economic entity large or small control its costs of production and maximize its profit while tackling a green approach trough a circular economy model? The aim of this paper is to identify how regenerative managerial accounting is used for a sustainable economic development in the context of a circular economy. Applying circular economy models business owners or managers can improve cash flows, create master budgets that advertize the longevity of products by using circular models that reduce the company s cost and save them money while analyzing necessary and unnecessary cash expenditures. (C) 2017 Published by Future Academy www. FutureAcademy.org.UK |
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