CSR and Climate Change Implications for Multinational Enterprises
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CSR and Climate Change Implications for Multinational Enterprises

Edited by John R. McIntyre, Silvester Ivanaj and Vera Ivanaj

Multinational economic actors, particularly corporations, play a defining role in the response to the climate change or warming debate and the emerging scientific consensus. This book describes, explains, and predicts how multinational firms will rise to the multiple challenges posed by global climate issues and the organizational and behavioral various responses of the international corporate community. It focuses on three core research and learning objectives. Firstly, it develops the core idea that multinational enterprises cannot implement meaningful sustainability initiatives without an appropriate governance system and corporate culture. Building on this notion, it addresses the question of environmental sustainability across select industry sectors, such oil and banking. Finally, drawing on a diverse range of contributing experts, it presents select best practices such as the opportunities arising from smart technologies implementation to achieve symbiotic industrial relationships, directed particularly towards the ecological environment of these firms’ transborder operations and global reach.
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Chapter 10: New trends in public accounting in Portugal: the particular case of provisions, contingent liabilities, and contingent assets

Maria da Conceição da Costa Marques

Abstract

The current tendencies in public accounting are based on a conceptual framework consisting of a set of inspiring principles of accounting standards and practices, according to which entities subject to public accounting should prepare the financial information with the objective of obtaining an image of reality. Accounting can play an important role in supporting, collaborating, and coordinating between different partners, with the participation of stakeholders and citizens in decision-making processes. Modern public sector management relies on management information systems that enable accurate, reliable, and up-to-date information on the state and the economic and financial performance of the states on the same terms as any other economic entity. International Public Sector Accounting Standards (IPSAS) are the standards to achieve these objectives. IPSAS 19 proposes to define provisions, contingent liabilities, and contingent assets, as well as identify the circumstances under which provisions should be recognized, how they should be measured, and what disclosures should be made about them. This rule should be applied in accounting for provisions, contingent liabilities, and contingent assets by entities that prepare and present financial statements in accordance with the accrual regime (except for the exceptions and exclusions provided for in the standard) and apply to all entities of the public sector that are not Government Business Enterprises. The main theme of this study is the new aspects of public accounting and IPSAS 19 and concerns provisions, contingent liabilities, and contingent assets. In the case of provisions, these are reflected in the Balance Sheet and Income Statement, while liabilities and contingent assets are disclosed in certain circumstances in the notes to the accounts.

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