Environmental, social and governance (ESG) issues are steadily becoming the responsibility of accounting and finance professionals, according to the Association of International Certified Professional Accountants.
In a release on Wednesday, the Association shared six ESG trends affecting accounting and finance professionals in 2021, with a main point being a shift in responsibility of ESG matters from sustainability and marketing departments to the inclusion of accounting and finance teams. The Association's findings were based on conversations with its members, global standard-setters and executives at CPA firms who head ESG reporting and accounting efforts.
Many things are taking place:
Salesforce, Accenture and a tipping point for carbon accounting | Greenbiz
The events of 2020 thrust the issue of corporate sustainability front and center in many C-suites. With that heightened visibility comes questions about accountability and accounting — specifically carbon accounting. It's a dilemma decades in the making: How to properly track and declare a company's carbon dioxide emissions in real time, not just in lag time after an annual data hunt.
One year ago, cloud software powerhouse Salesforce began touting its answer with the general availability of the Salesforce Sustainability Cloud, a platform for providing real-time access to ESG data such as energy consumption and greenhouse gas emissions. The application was first developed internally for the company's sustainability team and then spun out into a product meant to help companies collect data for sustainability reporting purposes.
BMO Financial Group joins the Partnership for Carbon Accounting Financials
TORONTO , Jan. 29, 2021 /PRNewswire/ - BMO Financial Group (TSX: BMO) (NYSE: BMO ) today announced it has joined the Partnership for Carbon Accounting Financials (PCAF).
"Joining the Partnership for Carbon Accounting Financials supports BMO's leadership position on climate-related risk and opportunity," said Michael Torrance , Chief Sustainability Officer, BMO. "By joining we are supporting the development of leading methodologies to track and report financed emissions which will inform our risk assessment and climate strategy going forward."
Social accounting includes looking beyond the bare numbers of racial diversity
(The Conversation is an independent and nonprofit source of news, analysis and commentary from academic experts.)
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Earl Lewis: For the past four or so decades, in our so-called “colorblind” society, the dominant white majority has been just fine endorsing “diversity,” as long as what we mean by that is only a relatively modest shift in numbers.
In this tradition, as well-earned and hard-won as are the seats of the first Black and the first Jewish Georgia senators elected recently – clearly shifting if not threatening the dominant electoral presumptions – one can only keep looking to the day when the table itself is reset to actually represent the demographics and full talent pool of our full country.
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FERC Issues Notice of Inquiry on Accounting Treatment of Renewable Energy Assets | Troutman
On January 19, 2021, FERC issued a Notice of Inquiry (“NOI”) seeking comments on the appropriate accounting and reporting treatment for certain renewable energy assets and for the purchase, generation and use of renewable energy credits (“REC”).
Concurrently with its issuance of the NOI, FERC issued an order denying a request for confirmation as to the appropriateness of booking certain wind and solar generating equipment costs to specific accounts in the USofA (“Order”). In the Order, FERC found that such guidance was not appropriate in the proceeding due to the contentious subject matter, potential implications beyond the proceeding, and lack of specific details in the request.
Alan Skelton Named Director of Research and Technical Activities of the Governmental Accounting
Mr. Skelton has served on the GASB's advisory group, the Governmental Accounting Standards Advisory Council (GASAC), since 2015 and as its vice chair since 2018. He was named to the director's position by the GASB chair following a national search that began in September of 2020 and considered more than 30 candidates.
Mr. Skelton earned a bachelor of science degree in accounting and finance at Florida State University. He is a certified public accountant in Georgia.
Accounting Manager (Hedge Fund) | eFinancialCareers
Boutique hedge fund in NYC is seeking to hire an Accounting Manager as part of their continued growth.
Working closely with the CFO and Controller, the Accounting Manager will be responsible for a range of tasks including:
• Primary point of contact for fund administrator, including monthly NAV review;
• Preparation and review of investor allocations, management fees, performance reporting and associated statements;
• Manage day-to-day accounting, books and records;
• Develop and oversee a robust internal control environment;
• Set-up infrastructure and processes for new entities;
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COVID-19 had disparate impact on accounting and finance | Accounting Today
The coronavirus pandemic has hit revenues at most companies around the world, but almost none of them feel that they're lagging behind their competitors.
The results showed an across-the-board decline in revenue, with very large companies (those with more than $10 billion in revenue) most likely to have experienced a considerable decline in revenue.
To be sure, some companies have been performing well despite the challenges, including videoconferencing companies like Zoom, e-commerce providers like Amazon, and streaming entertainment services like Netflix.
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