Australia has a capitalist economy meaning that private citizens and groups own the businesses in the economy instead of the government. Investments are crucial for businesses to operate and grow hence, businesses must convince investors to voluntarily contribute huge amount of their money as investments. In order for businesses to attract investments, all the possible risk and benefits of the business must be assessed and evaluated with sufficient reliability.
With reference to (Hines 1991), “The Rubber Tree is the only barrier between the harsh western sun and the soft ferns. I walk beneath its branches with gratitude for the shade and protection it gives.” The Rubber Tree acts as a metaphor to accounting regulations and examines many issues …show more content…
It helps protect humans against diseases, flooding and many other natural calamities. People would cease to exist without the operation of these ecosystems (Holzman, 2012). However, with the development of economy and technologies, people have been exploiting the value of nature beyond its capability to offer in order to receive benefits from nature. According to the ME (Millennium Ecosystem) in 2005, people lost three to five trillion dollars’ worth of natural resources every year. Therefore, it can be agreed that one of the problems is that the value of nature capital would go unaccounted for in accounting decision making. Thus, it is essential to establish the recognition of nature capital and quantifying them correctly is important. Additionally, people will be able to set proper policies and improve effective resource management and then achieve human health outcomes (Holzman, 2012). The overestimation or underestimation of the value of nature capital would result in negative influence of allocation and utilisation of natural …show more content…
For example in Japan whale capture is a cultural feast. Nevertheless this separates Japan from the family of global whale protection. This implies that same environmental impact can have different implications across borders. “The type of development that was to be encouraged needed to recognise any adverse environmental impacts it would cause” (Bell, Fraser; Lehman, Glen 1999). If the limit of economic growth is approachable, the earth cannot afford the same living standard for everyone. “When a family with $1500 a year increases its income to $4500, this is an increase of only $3000. The family needs it and the Earth can afford it. When a family with $150,000 a year increases its income to $450,000.The family does not need it, and the earth cannot afford the additional consumption” (Cobb 1997, 91). In the face of irreparably damaged earth, everyone is equal, regardless of your
With reference to (Hines 1991), “The Rubber Tree is the only barrier between the harsh western sun and the soft ferns. I walk beneath its branches with gratitude for the shade and protection it gives.” The Rubber Tree acts as a metaphor to accounting regulations and examines many issues …show more content…
It helps protect humans against diseases, flooding and many other natural calamities. People would cease to exist without the operation of these ecosystems (Holzman, 2012). However, with the development of economy and technologies, people have been exploiting the value of nature beyond its capability to offer in order to receive benefits from nature. According to the ME (Millennium Ecosystem) in 2005, people lost three to five trillion dollars’ worth of natural resources every year. Therefore, it can be agreed that one of the problems is that the value of nature capital would go unaccounted for in accounting decision making. Thus, it is essential to establish the recognition of nature capital and quantifying them correctly is important. Additionally, people will be able to set proper policies and improve effective resource management and then achieve human health outcomes (Holzman, 2012). The overestimation or underestimation of the value of nature capital would result in negative influence of allocation and utilisation of natural …show more content…
For example in Japan whale capture is a cultural feast. Nevertheless this separates Japan from the family of global whale protection. This implies that same environmental impact can have different implications across borders. “The type of development that was to be encouraged needed to recognise any adverse environmental impacts it would cause” (Bell, Fraser; Lehman, Glen 1999). If the limit of economic growth is approachable, the earth cannot afford the same living standard for everyone. “When a family with $1500 a year increases its income to $4500, this is an increase of only $3000. The family needs it and the Earth can afford it. When a family with $150,000 a year increases its income to $450,000.The family does not need it, and the earth cannot afford the additional consumption” (Cobb 1997, 91). In the face of irreparably damaged earth, everyone is equal, regardless of your