Describe about the Accounting Theory and Issues for Business Scenario.
The development of technology and infrastructure has changed the business scenario. It has become very much important for the organizations to analyze their business activities in order to reduce environmental impacts. Therefore, for this reason business organizations are putting extreme efforts to develop appropriate strategies and policies in order to increase their efficiently and decreasing environmental impacts (Aras and Crowther, 2012). The environmental issue can obstruct the growth and development process of the business entities by associating the entities into legal obligations. Moreover, it can bring the company in adverse situation so that the company cannot provide attention to its core business activities (Bowen and Aragon-Correa, 2014). The undertaken company Bio-Sustainable Feeds put great attention on the CSR strategies so that the environmental impact of the company can be reduced and the company can be established as an environmental friendly company (Brimblecombe et al., 2003). The feeds regarding the aquaculture continuation is innovated in the form of bacteria that helps in the enhancement of the fish growth with the utilization of the structures of the fish in a more effective manner in order to enhance the organizational growth in the field of aquaculture.
Discussion on the value to the society of the research made by BSF Ltd
According to the case study it can be perceived that the business entities Bio-Sustainable Feeds put great attention on developing efficient CSR strategies for the firm as well as improving their sustainability quotient and putting more efforts on the research and development sections of the firm (Hillstrom and Hillstrom, 2002). The research and development department plays a significant role in the development of product and services of a company. The department is focusing on minimizing the environmental impacts as well as developing products that will increase the profitability and value of the company (Keinert, 2008). The R&D department is researching the use of bacteria to make fish feeds from sugar cane residue, recaptured methane gas and wood chips. The development of product from wastage enables the company to minimize environmental impacts and recycling the natural resources which increases the sustainability and development of the company (McElhaney, 2008). The case study depicted provides the effective process that is conducted for the research and thereby the conduct helps in appropriate promotion of company with environmental friendly practices. It thereby also helps in providing focus on the establishments that are made by the company are const effective focus created or not. It thereby also provides appropriate improvement in the profitability with thereby helps in mitigating the risks that are indicated. The company’s activities seem to be improving the business of activities of the company with producing the product in a cost effective manner and thereby the consciousness is created for the company.
The initial research of BSF Ltd depicts the sustainable environment indicated for the aqua cultural feeds and thereby the research seems to be focusing on the plant based feeds. The research regarding this seems to be creating a lot of problems and thereby the support for the system is created via another approach which is depicted in this case study (B. Rust, 2011). The plant based fish feed seems to be supposed to solve the problems that helps in converting the rates of the low fish into the rate of the high values of fish. In this research the fish dies and also the maturity period of the fish is lowered. The process of diverting the value of the crops into the luxury products helps in diverting the fish value with regarding the production (Stokes &Howden, 2009). The process benefits the rich and the poor people with depicting the importance of the human food values. The environmental issue can obstruct the growth and development process of the business entities by associating the entities into legal obligations. Henceforth the problems regarding the early research are depicted in the context of the case with thereby enhancing the features of the organization with the increment of profitability for the organization. The description of the problems helps in providing overview of the components that are used for the research and thereby the components act as a crucial form for facing the current situation. The production of the fish feeds is being established with the help of the production of the components and thereby the consideration is made with the assumption of environmental quality feeds. It thereby helps in the enhancement of the fish feeds research with the usage of the poor class objections and thereby the consideration for the company is created in order to find the alternatives of the component of research mentioned in the case study.
The company has introduced new process of producing fish feed from the natural resources that have led to the increase in value and minimizing environmental impact. The research and development department has put all their efforts in the development of the product. The research helps in constructing the ideas that seems to be innovative for the organization with making progress and thereby the company consists of the alternative components are created in order to create fruitful progress in the environment of the environment.
The process of the research includes the verifiable tools and the techniques that are implemented on the research subject in order to gain the appropriate results (Shumway & Parsons, 2006). The procedures and the techniques undertaken help in considering the logical and the sequential procedures along with the practical examples. These practical examples are presented in front of the researcher. With depicting the practical examples, the future research are preceded with the assumptions made seems to be based on the outcomes of the future research. The process of development creates growth for the organization and thereby it also helps in indicating the structures that are presented for the enhancement of the progress. The process helps in forming the innovative structures that are requisite for the enhancement of the structure with the growth and the development of the corporation experiences. The innovation process helps in conducting the intangible asset and thereby the bacteria produce the feeds for fish.
Research development determines the implementation of the research on the particular organization. It helps in the growth of the organization and shows innovative idea that has been developed and carried out by the research and development department (R., 2016). The innovation process seems to be continued in this case for betterment of the organization BSF Ltd. The enhancement of the research relies on the enhancement of the research environment with creating the values for the organization.
The increase in competition in the market has compelled the companies to invest into research and development. In order to stay competition in the business environment, it is important for the companies to develop innovative and unique ideas and techniques(Berk and DeMarzo, 2007). Therefore, to achieve competitive edge in the market, the companies have to protect their innovative ideas and methods. Patents provide that protection of using innovative ideas by other companies or any other party. Patent is an intangible asset that is shown in the balance sheet of the company. The use of bacteria to develop feed for the fish from wood chips, recaptured methane gas and sugarcane is an innovative idea of the company BSF Ltd(Hillier, 2010). BSF Ltd received grant of amount $500 million from the commonwealth scientific and industrial research organization. BSF Ltd spent an amount of $500 million AUD in the research process and around $200 million in development cost of the aquaculture feed. The project’s discount rate is 8%. The evaluation and determination of the market value of the organization is very much important as it shows the development in the current business environment(Holton, 2012). The patent of BSF ltd is around $700 million AUD if the feed are sold. Therefore, the market value patent of the company is $700 million AUD.
|
Particulars |
Debit ($) |
Credit ($) |
|
Grant |
500 |
|
|
Commonwealth Scientific and Industrial Research Organization |
500 |
|
|
Alternative aquaculture feeds |
100 |
|
|
Cash |
100 |
|
|
Research |
500 |
|
|
cash |
500 |
|
|
Development cost |
200 |
|
|
cash |
200 |
|
|
Patent |
700 |
|
|
Cash |
700 |
In the given case study, the company BSF Ltd received grant of amount $500 million AUD from Common Wealth Scientific and Industrial Research Organization. On the alternative aquaculture feed, the company invested $100 million (Moles, 2011). An amount of $500 million AUD was spent on the research process and development cost of $200 million AUD. The total amount of money that the company spent is around $700 million AUD. The transactions of cash expense and received has been shown in the journal entry. The company utilized the grant money appropriately in the research and development of aquaculture feed (Spiceland, Sepe and Nelson, 2011). The selling of the feed will help to estimate the market value patent. The patent value is equal to the innovation value developed by the company. With the help of this innovative idea, the company BSF Ltd will be able to increase its market value as well as achieve a competitive advantage. The research and development department helps in the research and development process of the aquaculture feed (Stittle and Wearing, 2008). The journal entry shows the transactions from the year 2013 to 2016 as well as the amount of cash received and expensed. The accounting process helps to collect and analyze the transactions over a period of time. The investment in the research and development of the aquaculture feed has been shown in the journal entry. However, it is important for the company to develop its product and protect its innovative ideas (Wolf, 2008). The research and development plays an effective role in the enhancement of the structure which helps in the constructing the enhancement of the information collection for research. The main purpose of accounting is depicted for the process of collection, storage and the evaluation of the transactions done by a company during the specific time period of time. The crucial objectives helps in considering the views that are depicted as per the research and thereby the consideration regarding the control management might be constructed for the enhancement of the transactions.
The system of management depicted in the case study of BSF Ltd considers all the prospects of patent values and implementation of innovative strategies in order to produce bio-sustainable feeds for the fishes. The research in this process helps in determining the process which seems to be executed appropriate while continuing the process of research and thereby the control of the strategies seems to be taking place in this context (Sarker et al., 2016). The strategies for the control management of the research made in the BSF Ltd are as follows:-
Appropriate usage of the bio- sustainable materials helps in creating an appropriate environment for the fishes and there by completing the preparation of food for the fishes.
The growth of the high quality fish process can be implemented with the creation appropriate control management of the sustainable environment.
Appropriate usage of the upper parts of the plants for the creation of food for the fishes determines the enhancement of the business of BSF Ltd (Chung, 2016).
Appropriate usage of the wastage materials which are being used in the research of the fish food carried out by BSF Ltd. It thereby helps in controlling the costs of the organization with creating profit for the organization.
Appropriate control process helps in providing the appropriate environment with creating the exclusive control management. The control management also depicts the enhancement of the historical feed system which seems to be processed with creating a huge amount of cost for the execution of the process determined in the system. With the creation of this system, the evaluation of the control measures is depicted in this system. Henceforth the control process are used with the creation of appropriate control management with the appropriate approximation of the measurements undertaken in this case study.
References
Berk, J. and DeMarzo, P. (2007). Corporate finance. Boston: Pearson Addison Wesley.
Hillier, D. (2010). Corporate finance. London: McGraw-Hill Higher Education.
Holton, R. (2012). Global finance. Abingdon, Oxon: Routledge.
Moles, P. (2011). Corporate finance. Hoboken, N.J.: Wiley.
Spiceland, J., Sepe, J. and Nelson, M. (2011). Intermediate accounting. New York: McGraw-Hill Irwin.
Stittle, J. and Wearing, B. (2008). Financial accounting. Los Angeles: SAGE Publications.
Wild, J. (2005). Financial accounting. Boston: McGraw-Hill/Irwin.
Wolf, M. (2008). Fixing global finance. Baltimore, Md.: Johns Hopkins University Press.
Aras, G. and Crowther, D. (2012). Business strategy and sustainability. Bingley, U.K.: Emerald.
Bowen, F. and Aragon-Correa, J. (2014).Greenwashing in Corporate Environmentalism Research and Practice: The Importance of What We Say and Do. Organization & Environment, 27(2), pp.107-112.
Brimblecombe, P., Cunningham, M., Cunningham, W. and Freedman, W. (2003). Environmental encyclopedia.. Farmington Hills, Mich.: Gale.
Hillstrom, K. and Hillstrom, L. (2002). Encyclopedia of small business. Detroit, MI: Gale Group.
Keinert, C. (2008). Corporate social responsibility as an international strategy. Heidelberg: Physica-Verlag.
McElhaney, K. (2008). Just good business. San Francisco: Berrett-Koehler Publishers.
Rust, M. (2011). The Future of Aquafeeds.https://www.nmfs.noaa.gov/aquaculture/docs/feeds/the_future_of_aquafeeds_final.pdf. Retrieved 16 September 2016, from https://www.nmfs.noaa.gov/aquaculture/docs/feeds/the_future_of_aquafeeds_final.pdf
Chung, E. (2016). ‘Greener’ fish farming could lead to unhealthier seafood. CBC News. Retrieved 16 September 2016, from https://www.cbc.ca/news/technology/aquaculture-feed-1.3262922
R., L. (2016). Retrieved 16 September 2016, from https://sciencenordic.com/fish-feed-research-may-helpreduce-world-hunger
Sarker, P., Kapuscinski, A., Lanois, A., Livesey, E., Bernhard, K., & Coley, M. (2016). Towards Sustainable Aquafeeds: Complete Substitution of Fish Oil with Marine Microalga Schizochytrium sp. Improves Growth and Fatty Acid Deposition in Juvenile Nile Tilapia (Oreochromisniloticus).PLOS ONE, 11(6), e0156684. https://dx.doi.org/10.1371/journal.pone.0156684
Shumway, S. & Parsons, G. (2006). Scallops. Amsterdam: Elsevier.
Stokes, C. &Howden, M. (2009). Adapting agriculture to climate change. Collingwood, Vic.: CSIRO Pub.
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