Deck 8: Accounting and Sustainability Intelligence

Question 1

Sustainability is transformational business, transforming business from a focus on bottom line profit to a holistic view of the business as an integral part of a larger system.

Answer 1

True

Question 2

The triple bottom line measures all the following business decision results EXCEPT

A)Social
B)Morale
C)Economic
D)Environmental

Answer 2

B

Question 3

The traditional cost-benefit decision model considers quantitative and qualitative factors.

Answer 3

False

Question 4

Sustainability accounting does not impact people inside the organization.

Question 5

Sustainability accounting is also called ________.

Question 6

Short-term results that might appear favorable for all three bottom lines might also be favorable in the long run.

Question 7

Sustainability accounting collects information for which two general purposes?

A)Making decisions and evaluating performance
B)Reporting to investors and governmental agencies
C)Evaluating performance and reporting to governmental agencies
D)Evaluation performance and reporting to investors

Question 8

XBRL uses electronic tags for data, both quantitative and qualitative.

Question 9

What is the triple bottom line and what does it measure?

Question 10

Although the triple bottom line and sustainability are related, ________ considers a longer run perspective.

Question 11

________ is a recycling programs for electronic products.

Question 12

For many corporations, decisions in the short run often produce extraordinary profits and the results are sustainable in the long run.

Question 13

There is a class of corporation that reports on profit, people, and planet.

Question 14

The triple bottom line focuses on the effect of which three results?

A)People, technology, and environment
B)Profit, people, and quality of life
C)People, profit, and the planet
D)Technology, profit, and corporate morals

Question 15

________ involves collecting, storing, organizing, and reporting economic, social, and environmental information for making decisions and evaluating performance.

Question 16

How does sustainability accounting impact technology?

A)Sustainability accounting has no impact on technology.
B)IT components may be redesigned to reduce or eliminate various heavy metals.
C)Data needs to be stored for longer periods of time.
D)Companies will place more dependance on paper and less dependance on computers.

Question 17

The triple bottom line measures the economic, social, and environmental results of corporate decisions.

Question 18

How does sustainability accounting impact people?

A)Accountants collect the same type of data.
B)Customers expect more people-friendly products.
C)Vendors may be asked to provide less energy efficient products.
D)Employees will not need to modify business processes.

Question 19

Sustainability requires the ability to view the enterprise from a(n)

A)Global perspective
B)Local perspective
C)Environmental perspective
D)Profitable perspective

Question 20

The triple bottom line is sometimes call ________.

Question 21

Biomimicry is an innovation method that seeks sustainable solutions by emulating nature's patterns and strategies.

Question 22

What is the focus of enterprise carbon accounting?

Question 23

Biomimicry

A)Seeks sustainable solutions by avoiding nature's patterns and strategies
B)Is a type of scientific research that studies nature and does not apply discoveries to commercial use
C)Seeks sustainable solutions by emulating nature's patterns and strategies
D)A and B

Question 24

The ________ model provides an organizing framework for grappling with complex and sometimes conflicting sustainability issues.

Question 25

What new perspective does sustainability require of corporations?

Question 26

________ is an innovation method that seeks sustainable solutions by emulating nature's patterns and strategies.

Question 27

How are the quantitative and qualitative factors in the IDM model expanded in the IDa model?

A)An estimated financial amount is associated with the qualitative factors.
B)They include the economic, social, and environmental (ESE)costs/disadvantages and benefits/advantages.
C)They are not expanded in the IDa model.
D)The quantitative factors are converted to qualitative factors.

Question 28

True sustainability focuses on creating long-term value.

Question 29

A decision model

A)Streamlines the data collection process
B)Reveals the interdependencies of economic, social, and environmental factors in creating value
C)Guarantees a corporation is making the right decision
D)Makes the decision process overly complex

Question 30

Which type of sustainability is best defined as having a balance of cash inflows and cash outflows that can be maintained in the long run?

A)Environmental sustainability
B)Economic sustainability
C)Social sustainability
D)Human sustainability

Question 31

True sustainability focuses on creating

A)Short-term profits
B)Short-term value
C)Long-term value
D)A and B

Question 32

You are a staff accountant in the purchasing cycle group at Acme Widgets. Acme manufactures widgets from various metals and has manufacturing plants around the world.
Acme Widgets has come under pressure from various governments, environmental, and humanitarian groups to improve their sustainability practices. You are asked to provide suggestions on incorporating sustainability practices within the purchasing cycle. Prepare an email with your suggestions.

Question 33

Integrating sustainability into decision making often involves innovation, looking at issues as opportunities and envisioning new sustainable solutions.

Question 34

What does enterprise carbon accounting measure?

A)The reduction of carbon emissions resulting from a corporation's process redesign
B)The impact of recycling on corporate profits
C)Consumer awareness of carbon emissions
D)The amount of carbon emissions resulting from a corporation's operations and activities

Question 35

To be ________ sustainable, it is necessary to have a balance of cash inflows and cash outflows that can be maintained in the long run.

Question 36

Sustainability, a new approach to decision making, shifts the decision focus from minimizing risk to ________.

Question 37

How does sustainability accounting impact people?

Question 38

E-cycling is

A)A transaction cycle of a purchase over the Internet
B)The recycling of electronics, such as computers and cellular phones
C)The improper disposal of electronic waste
D)Something that has little impact on IT hardware purchases

Question 39

What are the three keys to sustainability?

Question 40

Which of the following steps is included in the sustainability IDa model but NOT in the IDM model?

A)Performance evaluation
B)Qualitative analysis
C)Implement decision
D)A and C

Question 41

What is biomimicry? Provide an example.

Question 42

List four value creation approaches.

Question 43

The two criteria to evaluate frameworks for reporting and evaluating sustainability performance are ________.

Question 44

Explain three approaches for storing qualitative data in a database. Provide an example of each.

Question 45

The ________ sustainability reporting framework of guiding principles for establishing an environmental management system (EMS).

Question 46

How does the IDa model integrate sustainability into decision making?

Question 47

Sustainability reporting expands a firm's performance report to include not only economic performance, but also a firm's performance as it relates to ________ responsibility.

Question 48

What is the difference between the IDM and IDa models?

Question 49

The ability to tag qualitative data with XBRL tags allows users to search for specific economic, social, and environmental performance indicators, such as carbon footprint, and then compare these among different organizations.

Question 50

Create/draw the sustainability IDa (Integrated Decision analysis)model.

Question 51

One approach to storing qualitative data is to

A)Quantify it using numerical ranking
B)Track it in spreadsheets
C)Ignore it; qualitative data is not relevant to business decisions
D)Convert it into a financial amount using business intelligence tools

Question 52

Which method of creating value is best defined as strive for zero waste as opposed to reduced waste?

A)Cradle-to-cradle model
B)Life cycle assessment model
C)Redesign the product
D)Redesign the processes

Question 53

The accounting system plays a crucial role in the success of sustainability reporting.

Question 54

The ________ is the most widely used approach to sustainability reporting.

Question 55

Which of the following is NOT the best method of creating value?

A)Adopting a cradle-to-cradle/zero-waste model
B)Using life-cycle assessment
C)Redesigning the product and process
D)Implementing a lawsuit risk minimization plan

Question 56

The ________ offer guiding principles for sustainability and a framework that integrates sustainability into management decision making.

Question 57

The ISO 14000 Environmental Management framework provides specific levels of environmental performance for an organization.

Question 58

How can the integrative decision model be expanded to encompass the additional dimension of economic, social, and environmental factors in decision making?

Question 59

Sustainability reports are used by investors, consumers, society, and others to evaluate a firm's performance in terms of profit, loss, and the ability to continue as a corporation.

Question 60

A complicated sustainability framework provides greater detail and is more effective than a simplistic sustainability model.

Question 61

Which of the following is the emerging form of common currency in the built (building's)environment?

A)H₂O
B)CO
C)H₂O₂
D)CO₂

Question 62

In order for a model to be accepted throughout an organization and provide a common language for communicating and understanding issues, the sustainability reporting model must be

A)Transparent and effective
B)Understandable and efficient
C)Translatable and transparent
D)Inexpensive and understandable

Question 63

Match the sustainability framework with the appropriate definition.

-INTERNATIONAL FEDERATION OF ACCOUNTANTS (IFAC)SUSTAINABILITY FRAMEWORK

A)Enables organizations to identify and control their environmental impact, continuously improve their environmental performance, and implement a systematic approach to setting and achieving environmental targets.
B)Provides a resource summarizing various frameworks used in accounting for sustainability.
C)Provides a sustainability reporting framework of which the G3 guidelines are the cornerstone.
D)Requires ISO 14001 as the environmental management system.
E)Provide guiding principles for sustainability and a framework that integrates sustainability into management decision making.

Question 64

The success of a framework or model is often based upon not perfection, but ________.

Question 65

What is required for a sustainability reporting model to be effective?

Question 66

Match the sustainability framework with the appropriate definition.

-ISO 14000 ENVIRONMENTAL MANAGEMENT

A)Enables organizations to identify and control their environmental impact, continuously improve their environmental performance, and implement a systematic approach to setting and achieving environmental targets.
B)Provides a resource summarizing various frameworks used in accounting for sustainability.
C)Provides a sustainability reporting framework of which the G3 guidelines are the cornerstone.
D)Requires ISO 14001 as the environmental management system.
E)Provide guiding principles for sustainability and a framework that integrates sustainability into management decision making.

Question 67

Match the sustainability framework with the appropriate definition.

-SIGMA GUIDELINES

A)Enables organizations to identify and control their environmental impact, continuously improve their environmental performance, and implement a systematic approach to setting and achieving environmental targets.
B)Provides a resource summarizing various frameworks used in accounting for sustainability.
C)Provides a sustainability reporting framework of which the G3 guidelines are the cornerstone.
D)Requires ISO 14001 as the environmental management system.
E)Provide guiding principles for sustainability and a framework that integrates sustainability into management decision making.

Question 68

Which sustainability reporting framework focuses on providing guidance to organizations in creating an environmental management system (EMS)?

A)ISO 14000 Environmental Management
B)EMAS European Union
C)Sigma Guidelines
D)Global Reporting Initiative (GRI)

Question 69

Match the sustainability framework with the appropriate definition.

-EMAS EUROPEAN UNION

A)Enables organizations to identify and control their environmental impact, continuously improve their environmental performance, and implement a systematic approach to setting and achieving environmental targets.
B)Provides a resource summarizing various frameworks used in accounting for sustainability.
C)Provides a sustainability reporting framework of which the G3 guidelines are the cornerstone.
D)Requires ISO 14001 as the environmental management system.
E)Provide guiding principles for sustainability and a framework that integrates sustainability into management decision making.

Question 70

Match the sustainability framework with the appropriate definition.

-GLOBAL REPORTING INITIATIVE (GRI)

A)Enables organizations to identify and control their environmental impact, continuously improve their environmental performance, and implement a systematic approach to setting and achieving environmental targets.
B)Provides a resource summarizing various frameworks used in accounting for sustainability.
C)Provides a sustainability reporting framework of which the G3 guidelines are the cornerstone.
D)Requires ISO 14001 as the environmental management system.
E)Provide guiding principles for sustainability and a framework that integrates sustainability into management decision making.

Question 71

Describe the sustainability reporting framework ISO 14000 Environmental Management. What specification is NOT included in this framework.

Question 72

The Global Reporting Initiative give grades to companies. What are the grades and how are they earned?

Question 73

To be effective, how must the sustainability report provide information about the organization's sustainability performance?

A)In an electronic format
B)In a hard copy format
C)In a relatively straightforward and understandable manner
D)In a timely manner

Question 74

In integrated reporting, thinking does not include considering long-term success.

Question 75

What are the four steps required for an organization to receive EMAS registration?

Question 76

Which sustainability reporting framework is the cornerstone of the G3 guidelines?

A)International Federation of Accountants (IFAC)Sustainability Framework
B)EMAS European Union
C)ISO 14000 Environmental Management
D)Global Reporting Initiative (GRI)

Question 77

In order to be effective, the sustainability report must provide information about the organization's sustainability performance in a relatively straightforward and understandable manner. In business, this is described as the ________.

Question 78

Which sustainability reporting framework was a joint undertaking of the British Standards Institution, Forum for the Future, AccountAbility, and the UK Department of Trade and Industry and provides guiding principles for sustainability and a framework that integrates sustainability into management decision making?

A)ISO 14000 Environmental Management
B)International Federation of Accountants (IFAC)Sustainability Framework
C)Sigma Guidelines
D)Global Reporting Initiative (GRI)

Question 79

The ________ is an internationally recognized green building certification system, providing third-party verification that a building or community was designed and built using strategies aimed at improving performance across all the metrics that matter most.

Question 80

What are the G3 guidelines provided by the Global Reporting Initiative (GRI)? Provide examples.