I will make a presentation on Material Flow Cost Accounting (ISO 14051) and Japanese case examples on 15th June 2010 at GIN2010 conference in Korea.
Below is the abstract on my presentation:
Material flow cost accounting (MFCA), an effective tool in the environmental management accounting, is expected to be International Standard (ISO) in 2011. The standard provides a guideline and general framework of MFCA. Further, the standard is designed to be well-integrated into other environmental management activities (e.g., ISO 14001). Since 2008, ISO/TC207/WG8, a working group under the TC 207 (Technical Committee 207 on Environmental Management) has been established and intensively working for standardization of MFCA with 57 experts from 26 countries. Focusing on material losses, MFCA can simultaneously contribute to organizations’ higher economic performance as well as further environmental conservation (e.g., more efficient material use) for sustainably society. Nowadays, MFCA has been widely employed in Japan as an effective management tool mainly among manufacturing companies.
The Japanese MFCA case examples clearly indicate that increased transparency in environmental and financial impacts through the MFCA implementation can simultaneously enhance companies’ economic and environmental performance.
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