THE RESOURCE MANAGEMENT ACT Assignment Example | Topics and Well Written Essays - 2500 words

THE RESOURCE MANAGEMENT ACT - Assignment Example The RMA advocates for the protection and development of the natural and physical resources in order to enable communities and individuals to provide for their social, cultural and economic wellbeing while safeguarding the life supporting capacity of the ecosystems and mitigating the potential adverse effects of their activities. According to Frieder (1997), the adoption of RMA was particularly significant in a number of reasons. For example, unlike the previous resource use regulations which were controlled by different agencies and sectors such as pollution, forestry and land use among others, the RMA act has provided an integrated framework for environmental and resource management. Another potential significance of the Resource Management Act is that it is the first statute in New Zealand to incorporate the principle of environmental sustainability and sustainable management as part of the regulatory framework. This is particularly based on the notion that sustainable management of our resources is critically important for the regulation of human activities on the environment. This paper critically discusses the use of New Zealand’s Resource Management Act as a tool for promoting sustainable management of the natural and physical resources of New Zealand. There are currently 12 regional councils in New Zealand. Generally, regional councils play some of the critical roles in the implementation of the Resource Management Act. During the assessment of the resource consents, regional councils often undertake a number of processes and considerations particularly the issuance of resource consents. The other roles of regional councils are preparation of regional plans and policy statements, carrying out enforcement actions and monitoring the actual state of the environment and the potential impact of their decisions under the

Advance Financial report Essay Example | Topics and Well Written Essays - 2250 words

Advance Financial report - Essay Example The credit crunch in 2008 and 2009 saw the fall of big financial institutions including Lehman brothers, AIG, Bear Stearns, and the others. The US government and other governments in Europe tried to provide bail-out funds to save companies because of the economic consequences of the problem but the crisis was unstoppable (Ryan, 2008). In an effort to prevent the occurrence of similar problem in the future, the issue on the influence or effect of the use fair value accounting in the preparation of financial statements becomes a subject of investigation and debate. Fair value is close related to market price as SFAS 157 defined as â€Å"the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date†. (FASB, 2006). First, compared with other measurements, FVA permits or requires companies to report in the financial statements more accurate, timely and comparable information on amounts, regardless of the condition in the economy (Ryan, 2009). This means that fair value is more relevant than historical cost when it comes to understanding the assets and liabilities of business organizations. It is believed that fair value does reflect the underlying fundamentals most specifically the risk of the asset. In other words the quality of information is enhanced in giving relevancy more importance than reliability for decision makers (Scott, 2010, citing Plantin, Sapra & Song Shin, 2008). The use of fair value in the financial statements would come closer to valuation conducted by investors or finance people for decision making purposes (Brigham and Houston, 2002). Second, the reported amounts under FVA would more updated on a regular and on-going basis (Ryan, 2009) allowing decision makers to know that the company would still an on-going concern. On the premise that accounting information are meant to inform the decision makers, then the purpose of